What are Oportun's requirements for borrowers?

Yes, Oportun does a hard inquiry when you apply for a loan. This credit report inquiry will likely drop your credit score by about 5 to 10 points, but you'll be able to get back on track with a few months of on-time payments.

Oportun's hard inquiry will stay on your credit report for two years, but it won't affect your credit after one year, and the impact may subside before then. To see how your individual credit score may be affected by a hard inquiry, you can use the ... read full answercredit score simulator on WalletHub.

It's worth noting that some people may be uncertain about whether Oportun does a hard inquiry because there's only a soft inquiry during the pre-qualification process. Soft inquiries do not impact your credit score. But that's just the first step, and a hard inquiry is required when you officially apply.

If not having a hard inquiry is important to you, lenders that don't do a hard pull at all include Integra Credit, NetCredit, and Opploans.

Yes, Oportun will verify your income when you apply for a personal loan. If you do not have any income, you can apply for an Oportun personal loan with a co-signer, and Oportun will verify that person's income instead.

Oportun may verify income by requesting financial information like pay stubs, bank statements, or W-2 forms. In other cases, they'll just use credit report information. Either way, you will also have to meet other Oportun requirements to be considered for loan approval.... read full answer

Oportun Personal Loan Requirements

• Be at least 18 years old
• Be a US citizen or permanent resident
• Have a Social Security number or ITIN
• Must live in one of these states: AZ, CA, FL, ID, IL, MO, NJ, NM, NV, TX, UT, WI

You have a good chance of getting approved for a loan from Oportun if you meet all of these requirements.

If you want a better idea of what other personal loans you may qualify for with your income, you can use WalletHub's free pre-qualification tool.

You can get Oportun personal loan prequalification through the Oportun website. Oportun prequalification allows you to see your odds of approval for a personal loan from Oportun, as well as your potential interest rate, and the process will have no impact on your credit score.

How to Get Oportun Personal Loan Prequalification... read full answer

• Go to the Oportun website.
• Click on the "Go" button after filling in your ZIP code.
• Enter whether you received an email offer, your name, email address, date of birth, phone number and more.
• Click Continue.

Once you receive your Oportun prequalification status, you can choose whether or not to actually submit an application. Getting pre-approved does not mean you're guaranteed to be approved if you apply, but your approval odds will be very high.

If you want to consider more options first, you can try out WalletHub's free personal loan prequalification tool, which checks for prequalification with multiple personal loan providers at the same time.