Wells Fargo does verify income for personal loan applicants to confirm that people can repay what they borrow, but it does not disclose a minimum income requirement. You also have to meet other Wells Fargo requirements to be considered, such as being at least 18 years old and being a US citizen or permanent resident. You have a good chance of getting approved if you meet all of these requirements.
Wells Fargo Personal Loan Requirements
Be at least 18 years old
Be a US citizen or permanent resident
Have a Social Security number or ITIN
Have a credit score of 600 or higher
If you want a better idea of what personal loans you may qualify for with your income, you can use WalletHub's free pre-qualification tool.
Applicants need a credit score of 660 to get a personal loan from Wells Fargo, according to multiple third-party sources. That means the Wells Fargo personal loan credit score requirement is in the fair credit range. To put this in perspective, most other lenders' credit score requirements for personal loans range between 585 and 700.
Keep in mind that just having a 660 credit score is not enough to qualify you for a Wells...
It takes 2 to 4 business days to get money from a Wells Fargo personal loan, in most cases. The Wells Fargo loan timeline includes around up to 3 business days to get approved for a Wells Fargo loan and another 1 business day to receive the funds after approval. Keep in mind that this is a typical applicant's experience, and in some cases it could take longer.
No, Wells Fargo does not allow cosigners on personal loans, but it does allow joint applicants. Joint applications enable two people to apply for a Wells Fargo personal loan together, then share equal responsibility for paying back the loan.
There are two major differences between having a cosigner and submitting a joint application for a personal loan. For starters, during the application process, a cosigner's credit and income matter more than those of the primary...
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