What credit score will generally be needed for alternate loan approval?

[DrPharaohX]

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I'm trying to get a rough idea before I apply for an alternate loan.

 

[DrPharaohX]

27 views and no replies, and I thought this forum is supposed to be helpful 😡 It's a freakin' straight forward question people.

 

[mpp]

Your question is, unfortunately, not straight forward at all unless of course you give some specific details about which lenders, which loans, cosigners or none, what interest rate, what terms, etc. Just apply and you will find out if your credit score is high enough or better yet, just ask the lenders.

 

[DrPharaohX]

Well by alternate loans I mean a private non-Stafford non-Federal loan. More specifically, I'm looking at the Bankone and Bank of America loans that dont' require school certification. I'd like an additional amount just for first year.

 

[evescadeceus]

Told by TERI that I would have to pay off the two recent dinks being reported before they would even consider me with a 664. It is very difficult to get a straight answer from a bank rep, who cite the same variables as the above post, so I can only hazard a guess that 700 seems to be the bottom of their comfort zone.

 

[osteo emt]

I think that evescadeceus is right for the most part......... a score of at least 650 is needed at most lending institutions. I believe T.H.E said that a score of at least 650 is favorable. You just have to try to get private loans from several places if you think you arent that favorable.....most places dont take that long to get back to you with a decision, maybe a day or two. There's always the co signer option if u can get someone to cosign for u, for some places this can be the deciding factor.