5. Apply for the Loan
After selecting a lender, complete the formal loan application. You’ll need to provide:
- Identification: A valid ID like a driver’s license or passport.
- Proof of Address: Utility bills or a lease agreement.
- Proof of Income: Pay stubs, bank statements, or tax returns.
The lender will conduct a hard credit check, which may slightly impact your credit score. Depending on the lender, you might receive an immediate decision or have to wait a few days.
Pro Tip: If your application is denied, request feedback from the lender. This can help you address any issues and improve your chances of approval in the future.
