Does Oportun verify income for personal loan applications? This question is about Oportun

Does Oportun verify income for personal loan applications?

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This question is about Oportun

Grace Enfield, Content Writer

@grace_enfield • 11/25/21 This answer was first published on 11/25/21. For the most current information about a financial product, you should always check and confirm accuracy with the offering financial institution. Editorial and user-generated content is not provided, reviewed or endorsed by any company.

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Yes, Oportun will verify your income when you apply for a personal loan. If you do not have any income, you can apply for an Oportun personal loan with a co-signer, and Oportun will verify that person's income instead.

Oportun 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 Oportun requirements to be considered for loan approval.

Oportun Personal Loan Requirements

Be at least 18 years old
Be a US citizen or permanent resident
Have a Social Security number or ITIN
Must live in one of these states: AZ, CA, FL, ID, IL, MO, NJ, NM, NV, TX, UT, WI

You have a good chance of getting approved for a loan from Oportun 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.

Answer Question

Does an Oportun personal loan affect your credit score

Yes, an Oportun personal loan does affect your credit score, both when you apply and during the entire time that you are paying the loan off. Initially, an Oportun 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.

How an Oportun Personal Loan Affects Your Credit Score

Hard pull: When you apply for an Oportun personal loan,...

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How do I apply for an Oportun personal loan?

To apply for an Oportun personal loan, first check for pre-qualification and then enter your personal and financial information on the online application. Next, verify the accuracy of the information, submit the application and wait to receive a decision.

How to Apply for an Oportun Personal Loan

Check for pre-qualification. Pre-qualification is a way to check your approval odds and potential rates before applying for an Oportun personal loan. It doesn’t hurt...

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Does Oportun do a hard inquiry?

Yes, Oportun 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.

Oportun'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...

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