The most common type of loan available to borrowers with a 593 credit score is an FHA loan. FHA loans only require that you have a 500 credit score, so with a 593 FICO, you will definitely meet the credit score requirements. … We can help match you with a mortgage lender that offers FHA loans in your location.
Subsequently, how much credit do I need for a 10k loan?
To get approved for a $10,000 personal loan, you’ll typically need a credit score of 620 or higher — though keep in mind that some lenders are willing to work with borrowers who have scores lower than this.
Keeping this in view, what credit score is needed for a $2000 loan?
You will likely need a credit score of at least 580 for a $2,000 personal loan. Most lenders that offer personal loans of $2,000 or more require bad credit or better for approval, along with enough income to afford the monthly payments.
What is most commonly used for collateral with secured loans?
A home or real estate property is one of the most common forms of collateral for secured loans. For example, mortgages are set up as loans secured by the property.
Ideal credit score to avail a personal loan
The minimum CIBIL score for a personal loan is usually considered to be between 720 and 750. Having this score means you are creditworthy and lenders will approve your personal loan application quickly.