Funancials

The Funny Money Blog

How To Get Approved For A Loan

Credit Building ·

The most important reason to maintain good credit is for loans. There are a number of other reasons (I’ll mention later) but it’s primarily to save you on the interest you’ll pay on loans. With that said, here are a few tips to consider when applying for a loan.

Credit –

Most banks and lenders consider anything above 720 excellent.

Income –

Keep your Debt-To-Income (DTI) under 30%.

Collateral –

Keep Loan-To-Value (LTV) under 80%.

Stay within these 3 guidelines and you should be fine.

A Blinkin

Hunter, aka A. Blinkin, is the blogger behind Funancials. His experience in banking, lending, payments and investments has earned him the title of "Personal Finance Guru." In addition to helping people with their finances, Hunter enjoys crunchy tacos, open mouth kisses from his 2 baby boys and writing in third person.

Was this article helpful?

Get Fresh Funancials Content

Enter your email address to get new articles and money tips delivered straight to your inbox.


(no spam, I promise.)

Important Disclosure

I'm a big believer in transparency. As such, you should know that I make money from this blog. Weird, I know. The way I make money is simple: I occasionally link to products and companies that I believe provide tremendous value. If you choose to sign up, I may receive a small payout. This payout comes at no additional cost to you and, trust me, it's small. I'm in no position to quit my day job. Please do not spend any money on these products unless you feel you need them or that they will help you achieve your goals.