Yes, Mariner Finance will verify your income when you apply for a personal loan. If you do not have any income, you can apply for a Mariner Finance personal loan with a co-signer, and Mariner Finance will verify that person's income instead.
Mariner Finance may verify income by requesting financial information like pay stubs, bank statements, or W-2 forms. In other cases, they'll just use credit report information. Either way, you will also have to meet other Mariner Finance requirements to be considered for loan approval.
Mariner Finance Personal Loan Requirements
Be at least 18 years old
Be a US citizen or permanent resident
Have a Social Security number and government-issued photo ID
Must live in one of the 22 states Mariner Finance services
You have a good chance of getting approved for a loan from Mariner Finance if you meet all of these requirements.
If you want a better idea of what other personal loans you may qualify for with your income, you can use WalletHub's free pre-qualification tool.
Yes, a Mariner Finance personal loan does affect your credit score, both when you apply and during the entire time that you are paying the loan off. Initially, a Mariner Finance personal loan will affect your credit score in a negative way, but the long-term impact can be very positive, assuming you repay the loan on schedule.… read full answer
How a Mariner Finance Personal Loan Affects Your Credit Score
Hard pull: When you apply for a Mariner Finance personal loan, Mariner Finance will do a hard inquiry into your credit history, which will temporarily drop your credit score by about 5-10 points in most cases.
Increased debt level: Taking out a Mariner Finance personal loan will naturally increase the amount of debt that you have. Since your debt level is one of the components of your credit score, you can expect that to have a negative impact initially.
Account diversity: One positive way that getting a Mariner Finance personal loan can impact your score right away is by adding more diversity to the types of accounts you have open. Your "credit mix" is one of the components of your credit score, and the more types of accounts you have, the better - as long as you handle them responsibly.
Payments: The biggest factor in how a Mariner Finance personal loan affects your credit score is whether you pay on time. If you make on-time payments, your score should steadily increase as a result. If you pay late or fail to make payments altogether, you can expect your credit score to drop.
The bottom line is that while a Mariner Finance personal loan does affect your credit score, most of the way that your score changes depends on how responsible you are with the loan. If you'd like to estimate how certain actions might affect your credit score, you can use WalletHub's free credit score simulator.
To apply for a Mariner Finance personal loan, first check for pre-qualification and decide which way you will apply (online, by phone or in person), then enter your personal and financial information on the application. Next, verify the accuracy of the information, submit the application and wait to receive a decision.… read full answer
How to Apply for a Mariner Finance Personal Loan
Check for pre-qualification. Pre-qualification is a way to check your approval odds and potential rates before applying for a Mariner Finance personal loan. It doesn’t hurt your credit. You can check for pre-qualification on the Mariner Finance website.
Decide which way to apply. You can apply for a Mariner Finance personal loan online, by phone or in person. Applying online is the best way because it typically offers the fastest decision.
Enter your personal information on the application. Mariner Finance requires the following personal information on the application: your name, date of birth, phone, citizenship and Social Security number.
Enter your financial information on the application. Mariner Finance requires the following financial information on the application: your personal and household annual income, employment status and period, employer’s number, monthly rent/mortgage payment, and loan purpose.
Double check the application for accuracy. To ensure that your Mariner Finance personal loan application gets processed as quickly as possible, make sure that all the information is correct and complete before you submit it.
Submit your application. Mariner Finance will typically provide a decision on your application within 1 business day.
If you are approved for a Mariner Finance personal loan, you will generally receive the funds within 2 business days after approval. After that, it’s your responsibility to make monthly payments until you have fully paid back your loan, including interest.
Yes, Mariner Finance does a hard inquiry when you apply for a loan. This credit report inquiry will likely drop your credit score by about 5 to 10 points, but you'll be able to get back on track with a few months of on-time payments.
Mariner Finance's hard inquiry will stay on your credit report for two years, but it won't affect your credit after one year, and the impact may subside before then. To see how your individual credit score may be affected by a hard inquiry, you can use the … read full answercredit score simulator on WalletHub.
It's worth noting that some people may be uncertain about whether Mariner Finance does a hard inquiry because there's only a soft inquiry during the pre-qualification process. Soft inquiries do not impact your credit score. But that's just the first step, and a hard inquiry is required when you officially apply.
If not having a hard inquiry is important to you, lenders that don't do a hard pull at all include Integra Credit and LendUp.
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