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Updated
When you’re ready to fill out a personal loan, you’ll need to have quite a bit of information and documentation nearby to enter onto your application. Understand what most lenders want to see and why so you can apply without wasting time.
Lenders typically require at least two forms of government-issued identification. While many will prefer a driver’s license number and recent bill, these will usually all be acceptable forms of ID:
Almost every lender requires you to meet a minimum income requirement. When you fill out the application form, lenders will need the some basic information and details to verify your income.
Lenders usually require information about your assets, debts and liabilities, so be sure to have a few other documents on hand when you apply.
Many lenders will ask for your employer name and phone number in the full application. But your pay stubs and direct deposits are usually enough to satisfy a lender’s employment verification. If needed, the lender can get in touch with your employer to verify your employment and income details. However, this is more common with mortgages than personal loans.
Yes. Secured loans require extra documentation so the lender can verify the worth of the collateral. These details will need to be confirmed with the lender before you apply and especially before you purchase the asset. Expect to provide any of the following documents when applying for a car loan:
These documents may not be needed at first. Many lenders allow you to fill out a preapproval application to see how much you may be able to borrow before you visit a dealer. This can help with the negotiation process.
By knowing what exactly what documents you’ll need, filling out your loan application can be quick and stress-free. Once you know what to expect, you can confidently compare a range of personal loans and apply without worrying about the application taking forever to complete.
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Ok. Would like to see what I would cost me to get 100k loan if you have a spreed sheet or something to breck it do for me I’m definitely interested but just want to make sure I like the terms before committing
Hi Jaison,
Thank you for leaving a question.
While we are unable to give you a breakdown of your loan cost, basically, there are two factors that impact how much a personal loan will cost you: the interest rate and the fees which make up what’s known as the annual percentage rate (APR) or the annual total cost of a personal loan.
You can use our table to compare $100,000 personal loans in terms of their APRs to help you determine which loan option is the least expensive. Then, you can get a quote directly from your preferred lender by clicking the “Go to site” button to see more details about their loan offer including the interest rate and a breakdown of all the charges and fees.
Make sure you meet all the eligibility requirements and review the loan terms and conditions before applying and making a decision on whether it is right for you.
I hope this helps.
Regards,
Val