Gino Rodriguez, Writer
@gino_rodriguez
OneMain Financial does not offer secured personal loans, but they do offer unsecured personal loans and other types of secured loans including auto loans and mortgages. Secured loans require collateral, such as a car, home or money in a bank account, whereas unsecured loans do not.
The upside to an unsecured personal loan is that you don’t run the risk of losing an asset if you fail to make the payments. With secured loans like mortgages and auto loans, the property will be used as collateral, so you could lose your home or car if you don’t pay the loan back. However, OneMain Financial reports payment information to the major credit bureaus every month, so if you make your payments on time, you can boost your credit score.
For more information, visit WalletHub’s OneMain Financial reviews page.
People also ask
How do I apply for a OneMain Financial personal loan?
To apply for a OneMain Financial 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 a OneMain Financial Personal Loan
- Check for pre-qualification. Pre-qualification is a way to check your approval odds and potential rates before applying for a OneMain Financial personal loan. It...
Is it difficult to get an OneMain Financial personal loan?
It is not difficult to get a personal loan from OneMain Financial because you need a credit score of 600 or higher to qualify, according to third-party sources. You will also have to meet other common requirements like being at least 18 years old, having an SSN, and having enough income to afford monthly loan payments.
OneMain Financial Personal Loan Requirements
- Minimum Credit Score: No minimum credit score required
- Age: 18+ years old
- Residency: U.S....
Does OneMain Financial verify income for personal loan applications?
Yes, OneMain Financial will require a proof of income when you apply for a personal loan. If you do not have any income, you can apply for a OneMain Financial personal loan with a co-signer, and OneMain Financial will verify that person’s income instead.
OneMain Financial may verify income by requesting financial information like bank statements, pay stubs or tax returns. In other cases, they’ll just use credit report information. Either way, you will also...
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