Overview

Wondering if you're eligible to apply for a loan? While specific criteria may vary depending on the lender and loan type, there are general requirements that most applicants must meet. This article will help you understand what factors are considered in determining eligibility and what to expect during the application process.

General Eligibility Requirements

To apply for a loan, you must:

• Have a verifiable name, date of birth, and Social Security number.

• Be at least 18 years old.

• Have a valid U.S. residential address.

• Have a personal banking account at a U.S. financial institution with a routing transit number.

  • Note: This requirement does not apply to auto refinance loans.

• Have a valid email account.

• Have a source of income (such as employment, an accepted job offer, or another regular source of income).

• Meet minimum creditworthiness requirements.

State & Residency Considerations

Loan availability may vary based on your state of residence. If you are unsure whether a specific loan product is offered in your location, we encourage you to begin an application. Our system will automatically determine if you meet state-specific eligibility criteria.

Soft Credit Inquiry: Applying Without Impacting Your Credit Score

When you check your rate through our platform, we perform a soft credit inquiry, which does not affect your credit score. This allows you to see if you qualify and review potential loan offers without any impact on your credit history. If you accept your rate and  proceed with an offer, a hard credit inquiry will be conducted, which may affect your score.

What If I Don’t Qualify?

Even if you don’t receive an offer at this time, you’re always welcome to apply again in the future. Loan eligibility can change based on updates to your financial situation, credit profile, and other factors.

Next Steps

To find out if you qualify, simply start an application. It only takes a few minutes, and you’ll receive a decision quickly without affecting your credit score.

📌 Related Articles:

• Minimum Credit Requirements for Loan Approval

• How Loan Applications Impact Your Credit Score

• Loan Funds Usage: What’s Allowed and What’s Not