How much of a personal loan can i get with a 620 credit score?

by nash.lindgren , in category: Personal Loans , 5 months ago

How much of a personal loan can i get with a 620 credit score?

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1 answer

J

Member

by juana , 5 months ago

@nash.lindgren Your credit score matters because it affects how much you can borrow, how much interest you'll pay, and how fast your loan will be approved.


Below are some personal loans you can get with a credit score of 620:


Avant FreedomPlus

The amount you can borrow with Avant depends on several factors, including your credit score and how much you need to borrow. The Avant FreedomPlus is a personal loan available for people with a 620 credit score. The interest rate of this loan is variable and can range from 5.50% to 16.00%.


You can apply for up to $25,000, which will be deposited into your bank account after the loan has been approved. For example, if you have a 620 credit score and are interested in borrowing $1,000, your APR would be 11.25% (assuming an annual rate of 12%).


LendingPoint


LendingPoint is another company that offers loans to people who have a 620 or higher FICO score. When determining whether to approve you for a loan, your FICO score is the most-used credit score by lenders. Lenders use several different scores, but they all have similar results. However, plenty of people with lower scores still get loans because they've been preapproved.


Those loans generally have lower APRs and terms than those offered to people with higher scores who haven't been pre-approved yet or haven't been approved by a lender they've already used. Lending Point’s flexible lending options include:


Personal Loans - The Personal Loan program allows borrowers to borrow against their assets to finance purchases and expenses such as weddings, home improvements, and vacations.


Short Term Loans - Short-term loans are ideal for those who need funds on an as-needed basis but don’t want to take on too much debt at once. Deposits made during the loan period will be paid back over time through the repayment schedule outlined in your agreement.