 TITLE: What Is a Signature Loan? CONTENT: How to Get a Signature Loan\n---------------------------\nIf you'd like to take out a signature loan, follow these steps:\n### Check Your Credit Score\nBefore you apply for a signature loan, it's a good idea to check your credit score. If your credit score is lower than you'd like it to be, you may want to focus on improving it. The higher your credit score is, the more likely it is you'll receive a lower interest rate and more favorable terms. So, if you don't immediately need the loan to cover an emergency expense, waiting until you've increased your credit score may be worthwhile.\n### Gather All of Your Information\nMost signature loan applications will ask you for the same personal details. You'll likely have to share your monthly income, the name of your employer, whether you're a homeowner or renter and your monthly housing costs. You may need to provide your W-2 forms or pay stubs to prove your income, so having these documents handy is a good idea.\n### Compare Your Options\nDon't be tempted to go with the first signature loan lender you find—it's important to do your research and compare all your options. That way, you can make an informed decision and reduce your risk of overpaying for your loan.\nDuring your research, you'll find that some lenders will list the minimum credit score they require for personal loans on their websites. If you come across a lender that seems like a good option but you don't know if you'll meet their requirements, you can always call or email them to find out. Applying for signature loans will result in hard inquiries on your credit report, so reduce the impact on your credit by limiting your application period to a short time frame and only applying to a few loans you're confident you'll qualify for.\nIf a lender can prequalify you for a loan, this will not affect your credit score. Prequalifying is a great way to get an idea of the types of offers you may receive.\n### Read the Fine Print\nOnce you find a signature loan you'd like to move forward with, read the fine print before signing on the dotted line. Look out for prepayment penalties, automatic withdrawals, origination fees, late payment fees and other details that can increase the cost of your loan or cause unwanted surprises.\n### Accept the Loan and Start Making Payments\nIf you've read the fine print and are satisfied with the terms, accept the loan. With some lenders you may get your money in a few business days, while others may take a bit longer. As soon as you receive your funds, take note of when your first payment is due and consider setting up automatic payments. Also, think about adding extra money to your payments each month so you can pay off your loan more quickly. END