Grace Enfield, Content Writer
@grace_enfield
OppLoans requirements include being at least 18 years old, having enough income or assets to make the monthly payments and owning a verifiable bank account. You don’t need a certain credit score to qualify for OppLoans personal loans.
You can see OppLoans major requirements listed below. Just remember, while meeting all the requirements gives you a good chance of approval, it’s never guaranteed.
OppLoans Requirements for Borrowers
- Credit Score Requirement: None
- Minimum Income: Annual income of $18,000 or more
- Age: 18 years old (19 in AL and NE)
- Citizenship: U.S. citizen or permanent resident
- Identification: Social Security number
- Bank Account: Verifiable bank account with transaction history of at least 90 days
- Residency: All states except Iowa and U.S. territories
Before you apply for any personal loan, it’s a good idea to pre-qualify. To pre-qualify with multiple lenders at once, check out WalletHub’s free pre-qualification tool.
People also ask
Does OppLoans verify income for personal loan applications?
OppLoans will verify your income when you apply for a personal loan. OppLoans requires a minimum annual income of $18,000 to ensure that you can make your monthly payments, and if you don’t meet the minimum income requirement, you likely won’t get approved.
If you receive alimony, disability benefits, or Social Security benefits, you may have to provide proof of income by submitting a paystub, your most recent benefit/award letter, 1099, or W-2. However,...
read full answer by Grace Enfield, Content WriterDoes OppLoans do a hard inquiry?
OppLoans does not perform a hard inquiry into your credit history when you apply for a loan, which makes it easy to get approved and means applying won't hurt your credit. When deciding if you can qualify for a personal loan with them, OppLoans will consider other factors such as income, debt load, age, and residency.
OppLoans typically caters to people with bad or no credit. However, loans from OppLoans are usually much more...
read full answer by Rick Bormin, Personal Loans ModeratorHow do I apply for an OppLoans personal loan?
To apply for an OppLoans 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 an OppLoans Personal Loan
- Check for pre-qualification. Pre-qualification is a way to check your approval odds and potential rates before applying for an OppLoans personal loan. It doesn't hurt...
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I had all that and was denied