Check your Approval Odds for a $6,000 loan
Image: 6000Where to get a $6,000 loan
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Taking out an $6,000 loan can be a smart move if it helps you achieve a financial goal.
But you’ll want to make sure you understand what type of personal loan is best for your situation and how those monthly payments will fit into your budget.
We’ll walk you through our recommendations for lenders to consider and how to apply for a loan.
Monthly payments for a $6,000 personal loan
| Loan duration | Average monthly payments ($6,000 loan) | |||
|---|---|---|---|---|
| Poor credit | Average credit | Good credit | Excellent credit | |
| 1–12 months | $586.77 | $557.68 | $549.41 | $537.67 |
| 13–24 months | $326.41 | $306.31 | $287.46 | $273.65 |
| 25–36 months | $240.17 | $227.61 | $210.61 | $192.13 |
| 37–48 months | $210.41 | $192.45 | $172.24 | $156.27 |
The best $6,000 personal loans
LightStream
Only borrowers with good-to-excellent credit can qualify with LightStream, but the lender offers competitive interest rates and a rate discount for autopay. Unfortunately, there’s no prequalification process available.
Avant
Avant offers personal loans specially designed for borrowers with fair credit. But the highest rates with the lender can be costly. Adding to the cost, Avant may charge you an administration fee when you take out your loan, and the lender also charges late and “dishonored” payment fees.
Citibank
This lender offers competitive rates — if you’re an existing customer and have strong credit. Citibank doesn’t offer prequalification, so you’ll need to submit a formal application to get an idea of your loan terms.
American Express
American Express personal loans feature no origination fees or prepayment penalties. But you have to be an eligible American Express cardholder to apply, and once you receive an offer, you have to formally accept within three days or the offer is rescinded.
Fifth Third Bank
Fifth Third offers personal loans with a wide range of loan amounts and loan term options — and they don’t come with any closing costs or prepayment penalties. But only current Fifth Third customers are eligible to apply online.
How to get a $6,000 loan
Before searching for a $6,000 loan, it’s a good idea to check your credit scores and reports. Understanding your credit situation can help give you a sense of your ability to get a $6,000 loan and the kinds of loans that might be available to you.
After checking your credit, you can begin to shop around for a loan. It might be helpful to see what your bank or credit union has to offer, but it’s best to compare potential options from various lenders so you can find the best rates and terms for you.
If a lender offers prequalification, you can see the terms you might be offered without affecting your credit. Just keep in mind that you might need to provide personal information required to run a soft inquiry on your credit reports. And there’s no guarantee your estimated terms will be your final ones.
Once you’ve researched available loans, you can start to assess the best option for you. Making sure your lender will offer you a loan at your preferred amount is a necessity, but the lender might also have eligibility requirements and state availability restrictions that determine your ability to apply, including your intended use for the funds. You might also want to consider how fast the lender may send you your funds after approval.
Your potential interest rate, the length of the loan and any fees will affect the overall cost. We recommend using a loan calculator to determine how much you might end up paying over the life of the loan.
FAQs about $6,000 loans
Some lenders offer same-day loans that provide funding within hours of approval. But same-day funding is not guaranteed, and even the fastest loans can take hours to transfer the funds to your account. The exact timing will depend on your bank.
Your ability to get a $6,000 loan typically depends on your credit profile and a lender’s requirements for approval. For instance, a borrower with bad credit may only be able to get approved from a lender that specifically advertises loans for people with less-than-perfect credit. Applicants with lower credit scores will likely get offers with higher interest rates and fees than people with stronger credit scores get.
$6,000 loans may be available to people with no credit or bad credit, these options likely will come with higher interest rates, fees, or even the need to provide collateral to get approved. If you don’t have a strong credit history, lenders might consider you a risk and structure your loan terms with that in mind. It’s a good idea to apply to prequalify with various lenders so you can shop around and compare potential offers without a hard credit inquiry that can temporarily hurt your credit scores.
*Approval Odds are not a guarantee of approval. Credit Karma determines Approval Odds by comparing your credit profile to other Credit Karma members who were approved for the personal loan, or whether you meet certain criteria determined by the lender. Of course, there’s no such thing as a sure thing, but knowing your Approval Odds may help you narrow down your choices. For example, you may not be approved because you don’t meet the lender’s “ability to pay standard” after they verify your income and employment; or, you already have the maximum number of accounts with that specific lender.