Does Rocket Loans give instant approval? This question is about Rocket Loans

Rocket Loans doesn’t give instant approval, but they may approve you the same day you apply. If they need to verify any of your information, the approval process may take a little longer, but you can expect to get the funds within 1 business day after you’re approved and you accept the offer. Key Things to Know About Rocket Loans Personal Loan Approval Minimum credit score: 640 Minimum income: $24,000 annually Approval timeline: Same day Funding timeline: 1 business day after approval Age requirement: 18+ Citizenship requirement: U.S. citizen or permanent resident Residency requirement: All states state except for Nevada, Iowa, and West Virginia For more information, check out the full Rocket Loans personal loan review on WalletHub.

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Does Rocket Loans give instant approval?

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This question is about Rocket Loans

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Grace Enfield, Content Writer

@grace_enfield • 08/19/22 This answer was first published on 08/19/22. 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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Rocket Loans doesn’t give instant approval, but they may approve you the same day you apply. If they need to verify any of your information, the approval process may take a little longer, but you can expect to get the funds within 1 business day after you’re approved and you accept the offer.

Key Things to Know About Rocket Loans Personal Loan Approval

Minimum credit score: 640
Minimum income: $24,000 annually
Approval timeline: Same day
Funding timeline: 1 business day after approval
Age requirement: 18+
Citizenship requirement: U.S. citizen or permanent resident
Residency requirement: All states state except for Nevada, Iowa, and West Virginia

For more information, check out the full Rocket Loans personal loan review on WalletHub.

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What credit score is needed for a personal loan?

The minimum credit score for personal loan approval is 580, depending on the lender. That means it is possible to get an unsecured personal loan with a bad credit score, though such a loan will likely have an origination fee.

For your reference, WalletHub researched some of the most popular lenders to find out more about their specific loan requirements.

Credit Score for Personal Loan Approval by Lender

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What are the personal loan requirements?

Major personal loan requirements include being at least 18 years old, having a bank account, having a good credit history, and having enough income or assets to afford monthly loan payments. Specific personal loan requirements vary by lender, however. Avant requires a credit score of 600 or higher, for example, while Prosper sets the bar at 640 and SoFi asks for 680. Most lenders don’t disclose annual income requirements, but two exceptions are LendingPoint ($20,000+)...

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How do you get a personal loan from a bank?

To get a personal loan from a bank, first check your credit score, then compare available offers to find the best rates, fees and payoff periods. After that, check for pre-qualification, submit an application either online or in person and wait for a decision. The steps may not sound all that complex, but preparing to get a loan can be time consuming.

How to Get a Personal Loan from a Bank

Check Your Credit

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