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Personal Loan Lenders who do NOT require tax returns and w-2’s.

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Contributor

Personal Loan Lenders who do NOT require tax returns and w-2’s.

Good morning all, from NH.

Has anyone been through a simplified process for obtaining a unsecured personal loan? My credit is excellent (760, 801,828) and carry little debt and have excellent credit lines. What I am seeking ideally, is a lender who does not require a mountain of paperwork regarding annual income. I simply will foresake the process, rather than to supply anything more than pay stubs from my very high paying job, valid bank account numbers, and my excellent credit history. Does anyone know of lenders who are able to provide options based on a streamlined process for those with top tier credit? 

Thank you.

EQ: 748 ; EXP: 788 ; TU: 739
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Message 1 of 7
6 REPLIES 6
Frequent Contributor

Re: Personal Loan Lenders who do NOT require tax returns and w-2’s.

I've gotten loans with Marcus, Prosper, and Lending Club and not had to supply any form of proof of income to any of them. From what I've read, at least some of these require POI from some applicants so I'm not sure there is any lender that would never ask, what they require varies by applicant.

Current Score: Mar 2019: EX FICO8 779, TU FICO8 800, EQ FICO 780, TU Vantage 773, EQ Vantage 786
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Message 2 of 7
Valued Contributor

Re: Personal Loan Lenders who do NOT require tax returns and w-2’s.

I think the best lenders to get a personal loan from with a low chance of requiring POI is a lender you have an internal history with. Also, I think it would depend on whether you are seeking a $500 loan or a $50,000 loan. As a personal loan is traditionally an unsecured loan, the more you borrow the greater the risk you are to the FI and the more reassurance they are going to want to have that you will be able to pay it back.


















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Message 3 of 7
Valued Member

Re: Personal Loan Lenders who do NOT require tax returns and w-2’s.

Lightstream comes to mind. Can borrow up to 100k if your income and credit supports it. They didn’t ask for much income verification other than a pulse (probably a pay stub but I do not recall). I’ve heard some have requested up to 100k for a “car purchase”, as it offers the lowest interest rate, and used the funding for other investments or matters. There are no title requirements for a “car loan” with Lighstream. Not endorsing that type of behavior, but the more information available the more informed decision you can make. 

Message 4 of 7
Contributor

Re: Personal Loan Lenders who do NOT require tax returns and w-2’s.

Thank you for that info, but evidently things at LightStream have changed since your last involvement. They want all kinds of annoying things for income verification. To me, it isn’t worth in for a lender to crawl up...with a microscope. 

EQ: 748 ; EXP: 788 ; TU: 739
BOA Cash Rewards:$27,000 ; BOA Business Cash Rewards:$20,000 ; AMEX PLATINUM BUSINESS-Open; Amex Business Blue- $30,000; AMEX Everyday Preferred: $30,000; Venture One:$11,750 ; QuickSilver:$10,500 ; CFU: $6,000 ; Home Depot: $15,000 ; Lowe's: $25,000 ; AMEX Business Plum: Open ; Discover It: $13,500; Elan Financial; $14,500; Citi Diamond Preferred-$11,000; CitiBusiness AAdvantage; $7,000; SYNC Welcome Home-$25,000
Message 5 of 7
Contributor

Re: Personal Loan Lenders who do NOT require tax returns and w-2’s.

Yeah, I kinda blew it. I was in the vastness of all things that are online credit reviewing, and happened across a review for a lender. This individual 5 starred the lender stating that with only a pay stub and a proof of bank account, she received a decent loan. However, I closed out prematurely...and POOF went the source! Not even in my history on my IPad. Still in mourning. 🙃

EQ: 748 ; EXP: 788 ; TU: 739
BOA Cash Rewards:$27,000 ; BOA Business Cash Rewards:$20,000 ; AMEX PLATINUM BUSINESS-Open; Amex Business Blue- $30,000; AMEX Everyday Preferred: $30,000; Venture One:$11,750 ; QuickSilver:$10,500 ; CFU: $6,000 ; Home Depot: $15,000 ; Lowe's: $25,000 ; AMEX Business Plum: Open ; Discover It: $13,500; Elan Financial; $14,500; Citi Diamond Preferred-$11,000; CitiBusiness AAdvantage; $7,000; SYNC Welcome Home-$25,000
Message 6 of 7
Valued Contributor

Re: Personal Loan Lenders who do NOT require tax returns and w-2’s.

I have had loans of 20000+ with SOFI, Lending Club, and Prosper. Never asked for any POI.

Message 7 of 7
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