Loan Options by Credit Score

Notes & explanations

1. Eligibility is lender-specific. Eligibility means meeting the requirements of the particular provider and product. A general category, example or checklist on this page does not establish approval, a borrowing limit or an available rate. ↩ Back to text

2. Missing history versus adverse history. Limited or missing credit history is not the same as a record of missed payments. A missing score also does not prove that no credit report exists. The distinction matters when asking a lender what information it can evaluate. ↩ Back to text

3. A soft inquiry is not final approval. A soft credit inquiry does not affect credit scores. That does not mean every later stage of an application is also soft. Ask which inquiry occurs at each stage before submitting a full application. ↩ Back to text

4. What a hard inquiry means. A hard inquiry is generally associated with a credit application and can affect credit scores. “No hard check” should be understood for the specified stage only, not as a blanket promise about an entire lending process. ↩ Back to text

5. APR and the interest rate. APR expresses borrowing costs on an annual basis and can include required charges beyond interest. It is not the dollar amount you will repay. Compare it alongside net cash received, the repayment term and the lender’s disclosed payment schedule. ↩ Back to text