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

Does Wells Fargo verify income for personal loan applications?

Answer Question Report Abuse

This question is about Wells Fargo

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.

Permalink Report Abuse

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.

Answer Question

What credit score do you need for a Wells Fargo personal loan?

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...

read full answer

How long does it take to get money from a Wells Fargo personal loan?

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.

How to Get Money From Wells...

read full answer

Does Wells Fargo allow cosigners on personal loans?

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...

read full answer

WalletHub Answers is a free service that helps consumers access financial information. Information on WalletHub Answers is provided “as is” and should not be considered financial, legal or investment advice. WalletHub is not a financial advisor, law firm, “lawyer referral service,” or a substitute for a financial advisor, attorney, or law firm. You may want to hire a professional before making any decision. WalletHub does not endorse any particular contributors and cannot guarantee the quality or reliability of any information posted. The helpfulness of a financial advisor's answer is not indicative of future advisor performance.

WalletHub members have a wealth of knowledge to share, and we encourage everyone to do so while respecting our content guidelines. This question was posted by WalletHub. Please keep in mind that editorial and user-generated content on this page is not reviewed or otherwise endorsed by any financial institution. In addition, it is not a financial institution’s responsibility to ensure all posts and questions are answered.

Ad Disclosure: Certain offers that appear on this site originate from paying advertisers, and this will be noted on an offer’s details page using the designation "Sponsored", where applicable. Advertising may impact how and where products appear on this site (including, for example, the order in which they appear). At WalletHub we try to present a wide array of offers, but our offers do not represent all financial services companies or products.

Ask a Question

140

Ask Question

Ask Your Question

WalletHub Transparency

We are committed to being fully transparent with our readers. Opinions expressed here are the author’s and/or WalletHub editors'. WalletHub editorial content on this page is not provided, commissioned, reviewed, approved or otherwise endorsed by any company. In addition, it is not any company’s responsibility to ensure all questions are answered.