 TITLE: How Much Can I Borrow With a Personal Loan? CONTENT: Which Factors Affect My Personal Loan Amount?\n---------------------------------------------\nEach lender has its own set of criteria for determining loan amounts. But in general, here are some of the primary factors:\n*   **Lender's loan offerings**: Even among lenders with similar loan terms and credit requirements, you may see a wide range of loan amounts. For example, SoFi offers loans ranging from $5,000 to $100,000, while Marcus loans go from $3,500 to $40,000. Both lenders offer loans to people with good to excellent credit scores.\n*   **Credit score**: Your credit score is an essential element in the loan underwriting process. The higher your credit score, the less of a risk you pose of defaulting on your loan. As a result, you may qualify for higher loan amounts if you have a good score than someone with a low credit score could. Many personal loan companies also have minimum credit score requirements.\n*   **Credit history**: In addition to your credit score, lenders will review your credit report for other factors that may indicate potential risk. If your credit score is decent but you have significant negative items on your credit report, such as missed loan payments or accounts in collections, it could hurt your chances of qualifying for a larger loan.\n*   **Income and debt**: Another factor lenders consider when you apply for a loan is your ability to repay it. To determine this, they'll look at your annual income—there's typically a minimum income requirement—as well as your debt payments. Lenders will calculate your debt-to-income ratio (DTI), or how much of your monthly gross income goes toward debt payments, to get an idea of your ability to make another monthly payment and how large a payment you could handle.\nBecause every lender is different in how it considers each of these factors, it's a good idea to shop around and compare multiple loan offers to improve your chances of scoring a better one. Experian CreditMatch™ allows you to get prequalified and compare loan offers from multiple lenders through one place based on your credit profile. END