Non-U.S. Citizen Getting A Personal Loan

Qualifying for a personal loan may be difficult for anyone, however Non-U.S. Citizens have an especially tough time.

Many lenders have strict eligibility requirements when it comes to citizenship, leaving Non-U.S. citizens with restricted entry to affordable financing.

Nevertheless, some lenders supply personal loans to Non-U.S. citizens, relying on the main points of their immigration and what documentation they will provide.

In case you can’t qualify for a personal loan, think about low-cost alternatives.

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Can a non-U.S. citizen get a loan?

A non-U.S. citizen can get a personal loan, however eligibility requirements range by lender and it’s typically tougher than if you have been a citizen.

Some lenders could think about Non-U.S. citizens high-risk debtors primarily based on two factors: the length of their stay in the nation and a possible lack of credit.

Since private loans have long repayment phrases — two to seven years, however sometimes longer — lenders are concerned you might leave the nation before you repay the loan in full.

Non-U.S. citizens also want time to construct credit and will have nonexistent or low credit score.

Lawful permanent residents, also referred to as green card holders, can have the easiest time applying for a personal loan because they will often present long-term status within the country;

and supply Social Security numbers, which help lenders to assess credit.

Lenders may also settle for an Individual Taxpayer Identification Number, or ITIN, as a substitute for a Social Security number, although it’s not as common.

Along with permanent residency, some lenders settle for a valid visa. Visas that present you’ll be in the nation longer than the loan time period you’re applying for could also be particularly helpful.

Applying for a personal loan as a Non-U.S. citizens

Applying for a personal loan is a simple course of that can principally be done on-line. To use, you’ll want to satisfy the following basic criteria:

  • Be 18 years or older.

  • Present proof of identity with a government-issued ID.

  • Present a U.S.-based address.

  • Record contact particulars like a telephone quantity and e-mail deal with.

  • Present proof of revenue and employment.

Almost all applications would require a SSN or ITIN to pull your credit.

Although some lenders cater specifically to borrowers with poor credit (629 or lower FICO score) or poor credit histories;

lenders usually prefer to see good credit (690 or increased FICO score) and two to a few years of credit history.

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Pre-qualifying for a personal loan

If possible, pre-qualify with the lender to see in case you clear its credit requirement. Pre-qualifying features a short application and soft credit pull, which won’t have an effect on your credit score.

On-line lenders usually tend to offer pre-qualification than banks or credit unions.

Including a co-signer to your application

In case you’re unable to qualify by yourself, adding a co-signer — ideally a U.S. citizen — could improve your chances of getting permitted for a personal loan or help you get a lower interest rate or higher loan amount.

A co-signer is somebody who provides their name to the first borrower’s loan application.

Although this particular person won’t have entry to the loan funds, they’re legally liable for the loan amount and any extra charges should you be unable to pay.

Personal loans for Non-U.S. citizens

Listed below are lenders that accept applications from permanent residents, visa holders and different immigrants.

In some instances, you’ll want to offer documentation, such as a copy of your inexperienced card or visa, to indicate your immigration status is current.


SoFi presents personal loans with zero charges for borrowers with good credit score. SoFi additionally lets borrowers add a co-signer to the loan application.

Minimal credit score: 680.

Loan amounts out there: $5,000-$100,000.

Terms available: Two to seven years.

Eligibility requirements: Candidates may be permanent U.S. residents or non-permanent residents, together with DACA recipients and asylum seekers. E-2, E-3, H-1B, J-1, L-1 or O-1 visas are eligible.


Marcus presents private loans with zero charges to good-credit debtors. In the event you don’t have a Social Security number, Marcus will settle for an ITIN.

Minimal credit score: 660.

Loan amounts available: $3,500-$40,000.

Phrases out there: Three to 6 years (consists of 9 repayment options total).

Eligibility necessities: Candidates have to be permanent U.S. residents.


LendingClub presents personal loans to debtors with fair credit. It could be an particularly good fit if you want a private loan to consolidate and repay debt.

Minimal credit score: 600.

Loan amounts out there: $1,000-$40,000.

Terms available: 3 or 5 years.

Eligibility requirements: Candidates have to be permanent U.S. residents or visa holders.


Upgrade accepts borrowers with bad credit report. Upgrade customers can join free credit score monitoring and tips to construct credit.

Minimal credit score: 560.

Loan amounts out there: $1,000-$50,000.

Terms out there: Two to seven years.

Eligibility necessities: Applicants have to be permanent U.S. residents or visa holders.

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Universal Credit

Universal Credit is an offshoot of Upgrade, however borrowers with low credit score could have a greater chance of qualifying with Universal Credit.

Minimal credit score: 560.

Loan amounts out there: $1,000-$50,000.

Terms out there: Three to 5 years.

Eligibility necessities: Candidates have to be permanent U.S. residents or visa holders.


Oportun gives personal loans, together with co-signed loans, to low- and moderate-income borrowers with limited or no credit history. Oportun accepts ITINs and ID cards issued in different countries.

Minimum credit score: None.

Loan amounts out there: $300-$10,000.

Terms available: 12 to 51 months.

Eligibility requirements: In response to a customer service representative, applicants don’t want to show proof of residency or visa.

Capital Good Fund

Capital Good Fund serves borrowers with low revenue and no credit history or bad credit. It has a number of types of loans, together with a loan to cover immigration-related costs.

Minimum credit score rating: None.

Loan amounts out there: $300-$50,000.

Terms available: 15 months to seven years.

Eligibility requirements: Applicants should present a SSN or ITIN, plus a form of identification.

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