Does Jora Credit do joint personal loans?

Jora Credit does not disclose a specific credit score needed to get a personal loan, unlike many personal loan providers. Although there isn't a specified Jora Credit credit score requirement, Jora Credit will consider people who have bad credit, according to customer service. Most other lenders' credit score requirements for personal loans range between 585 and 700.… read full answer

Keep in mind that Jora Credit will look at more than just your credit score when evaluating your application for a personal loan. Jora Credit will consider your entire financial profile, including things like your income, existing debts and recent credit inquiries, when deciding whether to approve you.

If you're unsure of what your current credit score is, you can check it for free on WalletHub.

The best way to get a $50,000 loan is to take out a personal loan from LightStream, SoFi, or Navy Federal Credit Union. These lenders offer personal loans of $250 to $100,000, with APRs as low as 2.49%, depending on an applicant's creditworthiness.

How to Get a $50,000 Loan in 6 Steps… read full answer

1. Check your credit score.
2. Check for personal loan pre-qualification to see your approval odds and potential rates.
3. Compare the terms of personal loans for which you have high approval odds.
4. Pick a loan and submit an application.
5. Wait for a decision.
6. Wait for the funds to be delivered (usually within 7 business days of applying).

Best $50,000 Loan Options

*According to either the lender or multiple third-party sources

There are several other ways to get a $50,000 loan, too. For example, you could tap into your home equity, charge the amount to a credit card, or borrow from a friend or family member. Pawnshop loans are an option, as well, though they're expensive and it's best to avoid them.

Ways to Get a $50,000 Loan

Personal loan

Personal loans offer $1,000 to $100,000 in funding for 12 to 84+ months, depending on the lender. Their APRs typically range from 6% to 36%, and they may or may not charge an origination fee to open the loan. Personal loan credit score requirements typically range from 585 to 700+, but there are some options for people with lower scores (including secured loans).

Home equity

You can get a home equity loan or home equity line of credit (HELOC) to borrow against your home. You'll be able to borrow a percentage of the difference between your home's value and the amount you have left to pay on the mortgage. There's the potential for a lot of funding if you have a lot of equity. Home equity loans usually last for 5 to 30 years, have APRs of 4% to 8%, and tend to require credit scores of 680+. If you cannot repay what you owe, you risk foreclosure on your house.

Credit card

Depending on what you need money for, you may have the option to charge it to a credit card. Credit cards have a wide range of credit limits, depending on the card and your creditworthiness. You may want to check out WalletHub's picks for the best high limit credit cards. It will likely be difficult to find a credit card with a minimum credit limit of $50,000 or higher, but it's possible to get a limit this large if your credit score and income are high enough.

Friends and family

You can always turn to someone you know to borrow money, and you're likely to get better terms than you would with a traditional lender. However, you also risk putting your relationship with that person in jeopardy if you can't repay what you owe. It may also be difficult to convince someone to lend you an amount this large.

Pawnshop loan

Pawnshops give you money for an item and let you pay it back with interest to reclaim the item. However, this interest tends to be very expensive, around 2% to 25% per month. Plus, if you don't pay back what you owe, the pawnshop can sell your item. This option is not ideal.

The best places to get a $20,000 loan with fair credit include LightStream, SoFi and Marcus. Most major personal loan providers have minimum credit score requirements that are within the fair credit range (640 to 699). Most also offer loans of $20,000 or more. But not all lenders are equal. The best ones don’t charge origination fees to process the loan, and they offer especially low APRs.… read full answer

However, it’s important to remember that even though it’s possible to get a $20,000 loan with fair credit, there’s never a guarantee that a lender will let you borrow that much. People with credit scores that just barely meet the issuer’s requirements could potentially have trouble getting loans that are high above the issuer’s minimum. They might even have difficulty getting approved for a loan of any amount. Most issuers’ minimum loan amounts are around $1,000 to $3,000.

Best Lenders for a $20,000 Loan with Fair Credit in 2023

Loans of $3,500 - $40,000. 0% origination fee. 6.99% - 24.99% APR. 680 minimum credit score.

Loans of $5,000 - $100,000. $0 origination fee. 5.99% - 22.49% APR. 660 minimum credit score.

Loans of $5,000 - $100,000. $0 origination fee. 7.99% - 23.43% APR. 680 minimum credit score.

Loans of $2,500 - $35,000. $0 origination fee. 5.99% - 24.99% APR. 660 minimum credit score.

Note: Credit score requirements are from the company’s customer service or several credible websites.

If your score is toward the bottom of the fair credit range, consider Best Egg or Prosper. Both require a minimum credit score of 640. But both also charge origination fees. Best Egg’s fee is 0.99% - 8.99% and Prosper’s is 1% - 5%. Both lenders offer loans of $20,000 or more. But again, there’s no guarantee you’ll qualify for a loan that big.

The best way to gauge your odds of getting a $20,000 loan with fair credit is to use WalletHub’s free pre-qualification tool. Just put in the amount of the loan you want, along with a few personal details. You’ll then be able to see which lenders will give you the best approval odds.