Stilt personal loans for nonresidents review
No green card? You could still qualify for a personal loan.
- Best for nonresident workers and new immigrants.
- Pick something else if you don't live in one of the 16 states it lends in.
Is Stilt legit?
Yes, Stilt is a legitimate online lender. Its website is secured by Secure Sockets Layer (SSL) certificate technology, and it follows other industry-standard security practices.
How much will this loan cost me?
Stilt offers loans with APRs that range from 7.99% to 15.99% — a relatively low maximum compared to some alternative lenders that don’t require US citizenship or permanent residence. It also doesn’t charge an origination fee, while many other online lenders do.
To see how much you might make in repayments each month, enter the loan amount, term in years and interest rate in the calculator.
Monthly repayments calculator
Calculate how much you could expect to pay each month
|Loan terms (in years)|
How pricing works
Stilt doesn’t only consider your income and credit score. It also considers your education, employment and financial behavior on the whole.
If you have a full-time job or the offer of one, it will work in your favor when it comes to getting a good rate. How you spend your money — specifically if you show responsibility from month to month — will also help.
While it still uses a soft credit check, it will have much less of an impact compared to whether you have an education, job or job offer and how you manage your money.
What do I need to qualify?
To be eligible for a Stilt personal loan, you must meet the following criteria:
- Physically be in the US
- Have a US phone number
- US bank account holder
- Live in an eligible state and have a physical address — not a PO Box
- Hold one of the following visas:
- F-1 and OPT: Student visa for full-time students that are allowed to temporarily work in the US.
- H-1B: Specialty worker visa.
- H-4: Visa for family members of an H-1B Visa holder
- O-1: Individuals with extraordinary ability or achievement work visa.
- L-1: Intracompany transferee work visa.
- TN: NAFTA professional visa.
- J-1: Exchange visitor visa for work- or study-exchange program participants.
- DACA: Visa for undocumented immigrants who entered the country as a minor.
What states does Stilt lend in?
Stilt personal loans are available in the following states:
- New Jersey
- New York
Pros and cons
Before you apply with Stilt consider all of what it has to offer — and what it might be missing for you.
- No green card necessary
- No credit score required
- Excellent customer service
- Limited availability
- Can’t apply with a cosigner
- Maximum term of just 36 months
Compare personal loans from top online lenders
Compare Stilt against other personal loan providers by entering your credit score and state. These lenders have different requirements — including residency requirements — so be sure to check that you meet them before applying.
Stilt reviews and complaints
|BBB customer reviews||1 out of 5 stars, based on 1 customer reviews|
|Trustpilot Score||4.7 out of 5 stars, based on 102 customer reviews|
|Customer reviews verified as of||19 October 2020|
For the most part, customers seem happy with Stilt’s low rates, quick funding — in just two to three days — and easy application. Others highlight Stilt’s helpful customer service representatives and transparent terms.
How do I apply?
You can apply for a Stilt personal loan online. Follow these steps to get started:
- Click Check my rate on this page or go to Stilt’s website and fill out the required fields before clicking Get started.
- If you meet Stilt’s basic eligibility requirements, a representative will contact you and invite you to apply.
- Once you submit your application, Stilt does a soft credit pull if you have a Social Security number and goes over your finances, then gets in touch for a quick verification call to make sure your information is correct.
- If you’re approved, Stilt will send you an offer. Carefully read your loan terms and conditions before signing. Stilt will then do a hard credit inquiry, which may affect your credit score.
- Your funds will be disbursed to your bank account.
What documents do I need to apply?
All non-US citizens or permanent residents must be prepared to provide:
- Copy of your passport
- Copy of your visa
- I-20 documents — if you’re a student
What happens after I apply?
After you submit your application, you should hear back from a loan specialist in 24 hours with next steps. You might be asked to provide recent bank statements and other documentation, depending on your application.
Stilt might ask to connect to your bank account so it can access information about your past transactions. This gives its underwriting team another way to evaluate your past financial habits and could help you qualify for a larger loan amount or more competitive rates.
If approved, you should receive your funds in your bank account two to three business days after signing your loan documents.
How does Stilt evaluate applications if it doesn’t check credit?
Since having a credit score isn’t a requirement — you need a Social Security number for that — Stilt might consider the following when determining your rates:
- Education and work experience. Stilt looks at your work history, level of education and your GPA if you’re still in school.
- Financial behavior. Similar to a credit check, Stilt looks at your debit and credit accounts to see how you handle your personal finances.
- Derogatory fees. If you have any late fees, overdraft or nonsufficient funds fees regularly taken out of any of your bank accounts, it could hurt your application.
- Defaults, collections or bankruptcies. If you’ve defaulted on a large debt, it could have a negative effect on your application.
- Accuracy of application. Make sure to reread your application a few times before submitting it. It could hurt you if its underwriters find inaccuracies.
How do repayments work with Stilt?
Stilt’s personal loans come with monthly repayments with terms up to three years. You have a few ways to make repayments, including by check, bank transfer or online.
Stilt doesn’t have an autopay option, but once you set up your bank account for online payment, making additional payments is relatively painless. You can even set up payments for a future date.
Since Stilt doesn’t have any prepayment penalties, try repaying your loan as quickly as possible to save on interest. If you notice anything wrong with your account or have any questions, contact customer service as soon as possible.
What other types of loans does Stilt offer?
Stilt, a San Francisco-based fintech company, provides a variety of unsecured loans and other services to nonresidents legally working in 16 US states:
- Student loan refinancing. Students on an F-1 visa about to graduate with a job offer can apply to refinance their student loans, even if they originated in another country.
- Student loans. Stilt offers private loans to students on F-1 and OPT visas who are working part-time, though it isn’t advertised on its website yet. The customer service representative we spoke with told us Stilt was still working out some of its features.
- Credit-building tool. This free service isn’t a loan, but it can help you build credit. Just sign up, register some of your monthly bills with Stilt and provide your bank account information. Stilt takes care of paying your bills by withdrawing the money from your account and reporting the payment to credit bureaus.
Explore other borrowing options as a nonresident and compare your options.
Frequently asked questions
Anna Serio is a trusted lending expert and certified Commercial Loan Officer who's published more than 1,000 articles on Finder to help Americans strengthen their financial literacy. A former editor of a newspaper in Beirut, Anna writes about personal, student, business and car loans. Today, digital publications like Business Insider, CNBC and the Simple Dollar feature her professional commentary, and she earned an Expert Contributor in Finance badge from review site Best Company in 2020.
Stilt personal loans are designed with nonresident workers and new immigrants in mind. You don’t need a green card or a Social Security number to apply. Instead, it relies on aspects of your personal financial history other than your credit rating when underwriting your loan. Rates are capped at 15.99%, which is relatively low compared to other lenders that offer loans with APRs as high as 36%.
But it only works with residents of 16 states. And you need to physically be in the US and have a US bank account to qualify. Another downside? Its terms are capped at three years, which could make for high repayments if you take out a large loan.
Not sure Stilt is right for you? Compare other lenders before you apply.