Discover in 5 Minutes How to Get Loans

Finding out how to get loans in the United States is the first step towards great financial achievements, whether it’s buying a home, financing a vehicle, or expanding a business.

When researching how to get loans, you will realize that preparation is as important as choosing the financial institution. Different modalities require distinct documentation and financial profiles. This article aims to clarify these nuances, ensuring you don’t waste time with applications that do not match your profile.

In this guide on how to get loans, you will learn in detail the types of credit available, the requirements demanded by creditors, and the best options in the current market. Finally, after this reading, you will have all the necessary knowledge to choose wisely. Keep reading.

Types of Loans Available in the Market

The American financial landscape offers various categories of credit. Each one is designed with the objective of meeting specific needs.

Firstly, personal loans function as fixed-term credit, usually unsecured.

In fact, they are ideal for consolidating debts, carrying out renovations, or financing large purchases. In this case, as a general rule, Annual Percentage Rates (APRs) range from 6.49% to 35.99%, depending directly on the applicant’s history.

Mortgages, or mortgage loans, represent long-term financing intended for the acquisition of real estate. There are conventional options and government programs such as FHA, VA, and USDA, each with its own down payment rules and eligibility.

Another common modality is the home equity loan, which includes the HELOC line of credit. This format allows the equity accumulated in the property to be used as collateral in order to obtain funds for renovations or paying off debts with higher interest.

In the educational field, student loans are divided into federal and private. Federal loans depend on financial need and enrollment in eligible institutions, while private ones analyze the student’s score and income.

For those looking for vehicles, auto loans finance new or used cars through banks, credit unions, or dealerships. Finally, small business loans aim for working capital and expansion, requiring solid business plans and consistent operational history.

General Requirements and Approval Criteria

Understanding the demands of creditors is vital in the successful process of how to get loans.

For personal loans, creditors look for a fair or good credit score. Approvals occur with scores starting at 580, but scores above 660 guarantee reduced interest rates.

It is emphasized that the debt-to-income ratio, known as DTI, must remain at 35% or less. Proof of stable income through pay stubs or bank statements is essential. In some cases, presenting a co-signer or collateral can increase the chances of approval.

In the case of mortgages, the minimum down payment varies according to the program.

Know that conventional loans require a 3% down payment and a minimum score of 620. The FHA allows a 3.5% down payment with a score of 580. Programs like VA and USDA may offer zero down payment. However, they have location restrictions and specific fees.

Most creditors limit DTI to 43%. For home equity loans, at least 15% equity in the property and a maximum LTV of 85% are required, with scores preferably above 620.

Step-by-Step for Credit Application (How to get loans)

Your loan application must follow a logical structure to avoid rejections.

The first step in personal loans involves assessing credit and payment capacity.

Check your score, correct possible errors, and reduce debts to improve your DTI. Then, determine the exact amount needed and research different creditors.

In fact, many offer pre-qualification with a “soft” inquiry, which does not affect your score. With the documents in hand, send the formal application and await approval before signing the contract.

For mortgages, the process begins with saving for the down payment. Specialists suggest saving 20% of the property value to avoid the PMI mortgage insurance, although the average down payment in 2024 was 15%.

Know that obtaining pre-approval is essential, as it demonstrates seriousness to sellers. After finding the property with the help of a realtor, make an offer and go through the underwriting process.

In the case of student loans, the priority should be to maximize federal aid by completing the FAFSA.

The Best Loan Options Today

Below, we detail the financial institutions and products that stand out in the year 2026, according to analyses by specialists and renowned press outlets.

1. LightStream

LightStream is positioned as a robust choice in the personal loan category, offering amounts ranging from $5,000 to $100,000.

Its terms are extended, potentially reaching 240 months, which facilitates the management of the monthly cash flow. Annual Percentage Rates (APRs) range between 6.24% and 24.89%.

An important differentiator is the absence of an origination fee and the offering of a discount for those who adhere to automatic payment, making the total cost of the loan more attractive.

2. PenFed Credit Union

PenFed Credit Union is ideal for those seeking competitive rates, with a maximum APR limited to 17.99%.

Although it requires the applicant to be a member of the credit union, the membership process is open to the public.

This option is frequently cited by Fortune as an excellent alternative for borrowers who prioritize the low cost of credit over other conveniences, maintaining an accessible requirement profile.

3. Rate Mortgage

Considered the best overall creditor in 2026, Rate Mortgage stands out for the speed of pre-approval and competitive rates. The institution accepts credit scores from 620, making it accessible to a broad public.

Its portfolio includes conventional, FHA, VA, and USDA mortgages, covering practically all residential property purchase needs.

4. Veterans United Home Loan (How to get loans)

Focused exclusively on military and veterans, Veterans United is the benchmark in this category. The institution requires a minimum score around 620 and allows financing with zero down payment, a significant benefit.

Furthermore, it does not require mortgage insurance, reducing the monthly cost of installments. It is the recommended choice by Fortune for members of the Armed Forces who wish to purchase a home with facilitated conditions.

5. BlueVine

BlueVine offers lines of credit up to $250,000, with APRs starting at 7.8% for highly qualified clients.

To access this capital, the company must be legally constituted (LLC or corporation), have at least 12 months of operation, and prove a minimum monthly revenue of $10,000.

Undoubtedly, this is an agile solution for businesses that need fast working capital.

6. OnDeck (How to get loans)

OnDeck offers lines of credit from $6,000 to $200,000 and term loans from $5,000 to $400,000. The average APR is around 56%, reflecting the agility and less bureaucracy.

Requirements include one year of operation, annual revenue of at least $100,000, and a minimum personal score of 625. It is a viable alternative for companies seeking capital injection and with proven cash flow.

Conclusion

Understanding how to get loans in the United States is less about “where to ask” and more about how to prepare.

The market is broad, competitive, and data-driven, which means that credit score, debt-to-income ratio, and income stability determine not only approval but the real cost of money over time.

Choosing the correct modality—personal, real estate, student, automotive, or business—avoids paying unnecessary interest and reduces the risk of excessive indebtedness.

Another decisive point is to use pre-qualification to your advantage. It allows comparing offers without impacting credit and directs the application to institutions compatible with your profile.

In the case of larger financing, such as mortgages, pre-approval is not only strategic but essential for negotiating better conditions. For businesses, demonstrating operational history and consistent cash flow weighs more than future promises.

In summary, getting a loan in the US is not a random process.

Here’s the tip! Those who organize their credit before applying, compare offers with criteria, and understand the requirements of each option can get cheap credit. If you know that a personal loan is the most suitable for your case, then we recommend that you check out the guide on how to apply for personal loans now.