You can borrow as much as $40,000 - $100,000+ with a 650 credit score. The exact amount of money you will get depends on other factors besides your credit score, such as your income, your employment status, the type of loan you get, and even the lender.
The best personal loans for a 650 credit score are from Upstart because they offer $1,000 - $50,000 with APRs of 6.4% - 35.99% and repayment periods of 36, 60 months.
Best Personal Loans for a 650 Credit Score
Lender | Loan Amounts | APRs | Credit Score Requirement |
Upstart | $1,000 - $50,000 | 6.4% - 35.99% | None |
Oportun | $300 - $18,500 | 10.07% - 35.95% | None |
OneMain Financial | $1,500 - $20,000 | 18% - 35.99% | None |
RISE | $500 - $5,000 | 60% - 299% | None |
Jora Credit | $500 - $4,000 | 75% - 349% | None |
For more information, check out WalletHub’s complete picks for the best personal loans for fair credit. Then, you can estimate your potential rates with our free pre-qualification tool.
This answer was first published on 08/26/22. For the most current information about a financial product, you should always check and confirm accuracy with the offering financial institution. Editorial and user-generated content is not provided, reviewed or endorsed by any company.
FAQs
You can borrow as much as $40,000 - $100,000+ with a 650 credit score. The exact amount of money you will get depends on other factors besides your credit score, such as your income, your employment status, the type of loan you get, and even the lender.
Can I get a $5000 loan with a 650 credit score? ›
With FICO, fair or good credit scores fall within the ranges of 580 to 739, and with VantageScore, fair or good ranges between 601 to 780. Many personal loan lenders offer amounts starting around $3,000 to $5,000, but with Upgrade, you can apply for as little as $1,000 (and as much as $50,000).
Can I buy a house with a credit score of 650? ›
The major credit bureaus have different credit scoring categories, and a good credit score is between 670 and 739. A 650 is on the high end of the fair credit score category, which ranges from 580 to 669. A 650 credit score will help you qualify for most home loans, but you may end up with a higher interest rate.
What is the personal loan rate with a 650 credit score? ›
Fair-credit personal loan rates
Borrower credit rating | Score range | Estimated APR |
---|
Excellent | 720-850. | 12.64% |
Good | 690-719. | 14.84% |
Fair | 630-689. | 18.69%. |
Bad | 300-629. | 21.74%. |
What can you finance with a 650 credit score? ›
What Does a 650 Credit Score Get You?
Type of Credit | Do You Qualify? |
---|
Store Credit Card | YES |
Unsecured Credit Card with No Annual Fee | YES |
Unsecured Credit Card with Rewards | YES |
Home Loan | YES |
3 more rows
What credit score do I need for a $500000 loan? ›
For a conventional loan, often backed by Fannie Mae and Freddie Mac, a minimum score of 620 is typically required. It's important to remember that while lenders have minimum credit score requirements, having a higher score can improve your chances of getting a better mortgage deal.
What credit score is needed for a $25,000 loan? ›
Typically, a desirable credit score for a $25,000 personal loan is around 670 and above, but some lenders work with those who have scores from 580 and up.
How big of a loan can I get with a 650 credit score? ›
You can borrow as much as $40,000 - $100,000+ with a 650 credit score. The exact amount of money you will get depends on other factors besides your credit score, such as your income, your employment status, the type of loan you get, and even the lender.
What credit score is needed for a $10 000 loan? ›
To increase your chance of qualifying for a $10,000 unsecured loan, you should have a credit score of 600 or higher. Some lenders start their minimum credit score requirements at 600, however, there are some lenders that require a credit score in the high 600s or low 700s.
What credit score is needed to buy a $300K house? ›
The required credit score to buy a $300K house typically ranges from 580 to 720 or higher, depending on the type of loan. For an FHA loan, the minimum credit score is usually around 580.
With your 650 credit score, lenders will generally consider you to be a higher-risk borrower. This means to get loan approval, you're likely to need strong qualifications when it comes to income, employment, and other debts.
What credit score do I need for a $3,000 loan? ›
Requirements for a $3,000 Personal Loan
However, most set a minimum. Discover, for example, requires a minimum credit score of 660, while some others require a minimum of 700. Most lenders consider your whole financial situation.
What percentage of people have a credit score over 650? ›
70% of U.S. consumers' FICO® Scores are higher than 650. What's more, your score of 650 is very close to the Good credit score range of 670-739. With some work, you may be able to reach (and even exceed) that score range, which could mean access to a greater range of credit and loans, at better interest rates.
Can I get a 30k car with a 650 credit score? ›
Summary. Even though a 650 credit score isn't that great, it is enough for you to secure a car loan, albeit with a relatively high interest rate. Remember that you can improve your credit history and refinance with another bank at a lower interest rate down the line.
What credit score do I need for a $30,000 car loan? ›
There isn't one specific score that's required to buy a car because lenders have different standards. However, the vast majority of borrowers have scores of 661 or higher.
How to raise your credit score from 650 to 700? ›
6 easy tips to help raise your credit score
- Make your payments on time. ...
- Set up autopay or calendar reminders. ...
- Don't open too many accounts at once. ...
- Get credit for paying monthly utility and cell phone bills on time. ...
- Request a credit report and dispute any credit report errors. ...
- Pay attention to your credit utilization rate.
How much money can I borrow with a 650 credit score? ›
You can borrow as much as $40,000 - $100,000+ with a 650 credit score. The exact amount of money you will get depends on other factors besides your credit score, such as your income, your employment status, the type of loan you get, and even the lender.
What credit score is needed for a $5000 card? ›
A credit score of 700 or better is typically needed for a card that offers a $5,000 credit limit. This means that these cards usually require you to have good or excellent credit. You will normally need a high income and little to no existing debt to get a limit that high, too.
How much is the monthly payment on a $5000 dollar loan? ›
The monthly payment on a $5,000 loan ranges from $68 to $502, depending on the APR and how long the loan lasts. For example, if you take out a $5,000 loan for one year with an APR of 36%, your monthly payment will be $502.
What do you need to get approved for a $5000 loan? ›
Eligibility criteria for a $5,000 loan
- Income and employment verification. Lenders want to ensure that you can repay your loan, so you'll need proof of employment, household income, and other key financial information. ...
- Credit score and history. ...
- Debt-to-income (DTI) ratio.