Loans (US)

How to Get a Personal Loan Easily in 4 Steps

Tired of the long, complicated process of getting a personal loan? Here's our guide on how to get the money you need with ease. Learn more about our four simple steps today!


by Vinicius Barbosa

Published on 05/16/2023

Make the intimidating process of getting a loan simple!

woman handing out cash
Getting a personal loan is easier than you’d think! Source: Adobe Stock.

Getting a loan can seem like an intimidating process but it doesn’t have to be. In this blog post, we will outline four simple steps on how to get a personal loan and start saving money quickly and easily.

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With just a few steps and following guidelines set forth by financial institutions that offer personal loans, anyone can get money quickly without last-minute delays or complications. 

Read on for an easy 4-step guide on how to get a personal loan with ease!

Skip the Stress – 4 Easy Steps to Get a Personal Loan Quickly and Easily 

happy woman holding a loan form
See how to apply and get a personal loan hassle-free! Source: Adobe Stock.

Are you looking for ways to get a personal loan easily? Whether it’s to fund an expensive purchase or consolidate debt, many of us have been in this situation at one point or another. 

With the right guidance, getting a loan can be easy and hassle free. In this blog post we’re going to walk through 4 simple steps that will help you take control of your finances by acquiring a personal loan quickly! 

So let’s dive in and explore how to make this happen with minimal stress and effort.

1. Know your score

If you’ve been thinking about how to get a personal loan easily, start by checking your credit score.

That three digit number can have a big impact on whether or not you’ll be approved for a loan. Also, the interest rate you’ll qualify for. 

For example, if you’ve got a high credit score, think 720 or above, then lenders will usually view you as a pretty safe bet for borrowing money. They may even offer you a lower interest rate. 

But if your score is lower, say in the 600s or below, then it might be tougher to get approved. Also, you’ll may be stuck with less favorable terms. 

The good news is that you can take steps to improve your score. First things first, request a free credit report and go through it with a fine-tooth comb. 

Boost your score by searching for discrepancies, like incorrect reports of missed payments, and disputing them to remove any negative effects on your credit.

In addition, make sure you’re staying on top of all credit card and loan payments and keeping your credit utilization low. Secure your dream loan with ease by simply following these steps.

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2. Calculate the payments

Determining the amount of money you need for a loan is crucial, but make sure to factor in any fees charged by the lender.

These fees, known as origination fees, can range from 1% to 10% of the loan and are deducted from the loan proceeds.

Your credit score plays a significant role in determining the annual percentage rate and monthly payments for your loan.

It’s also important to consider the loan term, as a longer term may result in lower monthly payments but higher interest payments.

Luckily, you can use loan calculators to estimate your monthly payments. All based on your credit score, loan amount, and loan term.

With some research and preparation, getting a personal loan can be an easy process.

3. Apply for a pre-qualification

loan application form
Pre-qualify to learn what you can expect. Source: Adobe Stock.

Feeling lost in a sea of personal loan options? Ease your worries with pre-qualification.

By sharing a bit of personal info like income and loan purpose, you can get an idea of what to expect from lenders without affecting your credit score. 

And don’t sweat it – pre-qualification only results in a soft credit check. Even better, you can compare rates and payments from multiple lenders to find the perfect fit for your budget. 

If you want to increase your chances of getting approved or getting a lower rate, consider a co-signed or secured personal loan. 

Just be aware that these options have consequences for your co-signer or collateral if you fail to repay. So, take some time to explore your options and find the one that works best for you.

4. Compare offers

You can start your search online, where lenders like SoFi, Happy Money, and Best Egg offer easy application processes and fast funding. 

Check out the options at PNC, Discover, and Wells Fargo. Existing account holders may enjoy benefits like customized repayment terms and lower rates. 

Credit unions are a smart choice. Especially if you’re seeking even more flexibility and competitive rates, and you have less-than-perfect credit. 

But remember, you’ll need to be a member to apply. And the application process itself could slightly affect your credit score.

Getting your personal loan doesn’t have to be a hassle anymore. Now that we showed you how easy it is, you can simply follow these four steps.

That way, you’ll ensure everything goes smoothly when applying for a personal loan. 

Having the right financial institution make all the difference in helping you get what you need as quickly and comfortably as possible. 

As long as you satisfy their qualifying requirements, lenders will not hesitate to grant access to quick financing solutions.

So there you have it – a quick rundown of how to get a personal loan easily.

How credit unions can help you build your credit score

Are you one of the millions of people looking to build, or rebuild, their credit score? If so, it helps to know all your options.

In the next blog post we’re going to explore how credit unions could give you the competitive edge you need when trying to improve your financial prospects.

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About the author

Vinicius Barbosa

Vinicius Barbosa is a writer of finance-related content on this portal. Graduated in Social Communication, he writes about everything that involves the world of finances, from credit card recommendations to investment tips, for readers who want to make better decisions when it comes time to spend their money or invest wisely.

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