You can borrow as much as $40,000 - $100,000+ with a 640 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 640 credit score are from Upstart because they offer $1,000 - $50,000 with APRs of 7.80% - 35.99% and repayment periods of 36, 60 months.
Best Personal Loans for a 640 Credit Score
Lender | Loan Amounts | APRs | Credit Score Requirement |
Upstart | $1,000 - $50,000 | 7.80% - 35.99% | None |
Oportun | $300 - $10,000 | 35.95% - 35.99% | None |
OneMain Financial | $1,500 - $20,000 | 18% - 35.99% | None |
RISE | $300 - $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 640 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.
How much loan can I get with a 640 credit score? ›
How much can I borrow with a 640 credit score? Lenders can set their minimum and maximum loan amounts. In most cases, limits will start at $1,000 and go up to $100,000, depending on credit score and other factors.
Is a 640 credit score good to buy a house? ›
Generally, the higher your credit score, the more likely you'll qualify for a mortgage loan with these lenders. Many will accept a credit score as low as 620, but they may have other requirements for those borrowers, such as a higher income or a larger down payment.
Can I get a $20,000 loan with 650 credit score? ›
Requirements for a $20,000 Personal Loan
Requirements vary by lender, but most lenders require borrowers to have a credit score in the good to excellent range — meaning a score of at least 670. Some lenders state they require stable, consistent income, while others list a minimum income requirement.
What credit score is needed to buy a $300K house? ›
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.
What credit score do you need to get a $30,000 loan? ›
Requirements to receive a personal loan
This allows them to look at your history from the past seven years and see whether you've typically made payments on time. For a $30,000 loan, you'll typically need a credit score above 600 just to qualify or above 700 to get a competitive rate.
What credit score do I need 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 do you need for a $400000 house? ›
Charge mortgage insurance premiums at a reduced rate. Don't have a pre-set credit score but most lenders require 620+
How to raise credit score from 640 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.
What does my credit score need to be to buy a 200k house? ›
Conventional loan
Conventional loans are the most common type of mortgage, accounting for about 70% of the market. They usually require a 620 credit score, though some lenders will consider applicants with scores as low as 580.
Advertising Disclosures
Loan Amount | Loan Term (Years) | Estimated Fixed Monthly Payment* |
---|
$20,000 | 5 | $415.07 |
$25,000 | 3 | $771.81 |
$25,000 | 5 | $514.57 |
$30,000 | 3 | $926.18 |
13 more rows
Can I get a 30k car loan 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.
How to get 20K instantly? ›
In such scenarios, where you don't have the time and leeway to apply for a full-fledged loan, a small and quick financial fix can be a lifesaver. Well, it's possible now, and the only document you require is your Aadhar Card. Yes, you can avail of an instant paperless Rs. 20,000 loan on Aadhar Card.
How much do you need to make a month to afford a 200k house? ›
With a 5% down payment and an interest rate of 7.158% (the average according to Mortgage Research Center's rate tracker at the time of writing), you will want to earn at least $4,544 per month – $54,528 per year – to buy a $200,000 house. This is based on an estimated monthly mortgage payment of $1,636.
How much income do I need for a $400,000 mortgage? ›
Assuming a 30-year fixed conventional mortgage and a 20 percent down payment of $80,000, with a high 6.88 percent interest rate, borrowers must earn a minimum of $105,864 each year to afford a home priced at $400,000. Based on these numbers, your monthly mortgage payment would be around $2,470.
How much is a 20% down payment on a $350 000 house? ›
To make a 20% down payment on a property with a $350,000 mortgage, you would need $87,500. Many buyers make lower down payments, however. Some as low as 3%.
What APR car loan can I get with a 640 credit score? ›
Average car loan interest rates by credit score
FICO Score | Average new car rate | Average used car rate |
---|
661 to 780 (prime) | 7.01% | 9.73% |
601 to 660 (near prime) | 9.60% | 14.12% |
501 to 600 (subprime) | 12.28% | 18.89% |
300 to 500 (deep subprime) | 14.78% | 21.55% |
1 more rowMay 13, 2024
Is a 640 credit score good enough to buy a car? ›
A credit score of 640 is considered fair, which means you may encounter higher interest rates and less favorable loan terms compared to someone with a higher credit score. Lenders may offer shorter loan terms or require a larger down payment to reduce their risk and this could result in higher monthly payments.
How big of a loan can I get with a credit score of 600? ›
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).