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 | 99% - 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.
What mortgage rate can I get with a 650 credit score? ›
Mortgage rates as of May 30, 2024
| FICO® score | APR | Monthly payment * |
|---|
| 680-699 | 7.064% | $2,009 |
| 660-679 | 7.278% | $2,052 |
| 640-659 | 7.708% | $2,141 |
| 620-639 | 8.254% | $2,255 |
2 more rowsThe 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 kind of car loan can I get with a 650 credit score? ›
Average Car Loan Interest Rate by Credit Score
| Average Auto Loan Interest Rate by Credit Score | | |
|---|
| Average New Car Rate | Average Used Car Rate |
|---|
| Subprime (580-619) | 11.53% | 18.55% |
| Nonprime (620-659) | 8.86% | 13.28% |
| Prime (660-719) | 6.40% | 8.75% |
2 more rowsJul 5, 2023
Requirements for a $3,000 Personal Loan
Credit score: Some personal loan lenders, such as Upstart, allow you to apply with a very low credit score. However, most set a minimum. Discover, for example, requires a minimum credit score of 660, while some others require a minimum of 700.
What credit score is needed to buy a $400,000 house? ›
Your credit score has less bearing on your ability to get a mortgage than you might think. The minimum FICO score for a conventional loan is 620. The best rate comes with a score of 740 or higher.
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 is needed for a $30,000 car loan? ›
In general, you'll need a FICO credit score of at least 600 to qualify for a traditional auto loan. However, the minimum credit score required with vary from lender to lender. As interest rates increase due to inflation, securing a subprime auto loan may be more difficult — but not impossible.
How much 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 can a 650 credit get you? ›
As someone with a 650 credit score, you are firmly in the “fair” territory of credit. You can usually qualify for financial products like a mortgage or car loan, but you will likely pay higher interest rates than someone with a better credit score. The "good" credit range starts at 690.
Easiest-to-get personal loans compared 2024
| Title | APR | Min. credit score |
|---|
| BadCreditLoans.com | 5.99% to 35.99% | Undisclosed |
| Upstart | 5.2% to 35.99% | 300 |
| Avant | 9.95% to 35.99% | 580 |
| LendingClub | 8.98% to 35.99% | 600 |
6 more rowsMay 7, 2024
Monthly payments for a $3,000 personal loan
| Loan duration | Average monthly payments ($3,000 loan) | |
|---|
| Poor credit | Good credit |
|---|
| 1–12 months | $486.76 | $308.32 |
| 13–24 months | $243.39 | $159.67 |
| 25–36 months | $129.93 | $107.48 |
1 more rowMar 7, 2024
Generally, you'll need a good to excellent credit score — 670 or higher — to qualify for a $20,000 loan.
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 do you need for a 500000 mortgage? ›
Include your closing costs in the home loan (VA refinance only) Expect most mortgage lenders to want minimum credit scores of 620 or even 640.
How to get 700 credit score from 650? ›
How To Get A 700 Credit Score
- Lower Your Credit Utilization Ratio. Credit utilization makes up the second-largest percentage of your credit score. ...
- Space Out New Credit Applications. ...
- Diversify Your Credit Mix. ...
- Keep Old Credit Cards Open. ...
- Make On-Time Payments.
However, a credit score of 620 could qualify you for an FHA loan with a rate of 4.125%. This is a 0.75% drop from a score of 610, which could save you over $40,000 in interest payments on a $250,000 home. FHA loan applicants with a credit score of 620 or higher could qualify for down payment options starting at 3.5%.
