Can you get a personal loan with a 600 credit score?

Asked by Moongirl, 60155 Tue Feb 14, 2012

Can you get a personal loan anywhere from $50,000-$250,000 with a 600 credit score and if so where?

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Darrell Hess, Agent, Asheville, NC
Tue Feb 14, 2012
Probably someone out there will. I suppose it depends on what the loan is for or what other equity you have to support funds desired. When you get a home loan the loan is secured by the property. If you get an equity loan it is based on the equity the loan is founded on. The best advice anyone can give you is to get that score up and your debt to income ratio down. Pay more towards balances owed and get your lines of credit freed up. Good news is to bring your score from 600 to 650 (most home loan minimums) is not hard to do.
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I agree that it depends on what the loan is for. It could vary also depending on the company. Hopefully, you find someone that will work with you and help you get what you need. Good luck!
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Scott Godzyk, Agent, Manchester, NH
Tue Feb 14, 2012
If by a personal loan you mean unsecured, probabily no. If you are looking for a line of credite, equity loan, 1st or 2nd mortgage secured by a property, maybe depending on if you have the equity and the ability to pay back. You should meet with a local and trusted loan officer who can look at your credit and financials to see if anything is available. Anyone else is just giessing without looking at the whole picture
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