The Personal Loan Application Form displayed on this page is a reusable formal template crafted by professional attorneys in accordance with federal and state regulations.
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To get a better idea of what you may want to tell your lender, below are some of the most common reasons to get a personal loan: A Short-Term Unexpected Emergency Expense. To Consolidate Debt. A Large Purchase. Home Repair and Renovation. Covering Costs for Major Milestones and Goals. Paying for School. Buying Real Estate.
Personal loan applications typically require your Social Security number (SSN) and/or some other form of identification, bank statements, and possibly other financial documents, as well as pay stubs (and potentially tax returns). You can apply for a personal loan either in person or online.
You need at least $10,500 in annual income to get a personal loan, in most cases. Minimum income requirements vary by lender, ranging from $10,500 to $100,000+, and a lender will request documents such as W-2 forms, bank statements, or pay stubs to verify that you have enough income or assets to afford the loan.
What a personal loan agreement should include Legal names and address of both parties. Names and address of the loan cosigner (if applicable). Amount to be borrowed. Date the loan is to be provided. Repayment date. Interest rate to be charged (if applicable). Annual percentage rate (if applicable).
Unexpected emergency expenses like medical emergencies, covering moving costs, job loss, car repair, the death of a family member, and vet bills can all mean having to take out a personal loan. And in short-term emergencies, they can be a good option for fast funds.