If you have found the perfect refinancing solution that fits exactly with your personal preferences and needs, then it is time to apply for the loan. Meet your lender or lending club personal loans and fill all the applications in person along with all the supporting documents. All the information and documents about you and your co-borrower, whether for personal loans or prosper personal loans must be submitted.

Documents Needed for Personal Loan:

If you want to apply for a refinance, you will need to submit all the documents to your lender to verify your employment history, creditworthiness, and overall financial situation.

Following are the documents needed for personal loan:

• W-2s from the last 2 years
• Two recent and consecutive pay statements
• Bank statements for all your financial accounts
• All your investments for the last two months
• Personal and business tax returns

*All the above documents needs to be duly signed. If you are self-employed, the documents needed for personal loan may include –

• A copy of most recent quarterly or year to date profit-loss statement
• Latest monthly statements for any mortgage
• Home equity loan or line of credit you hold at home

Apart from these basic documents, your personal loan lender may want some more documents which he will decide depending on your mortgage and circumstances.

You must take enough time to fill up all the applications with acute details. You should not hide your credit problems or hold back the documents needed for personal loan. This will only delay your loan to be sanctioned. So for your benefit, share every detail about your finance with your lender.

Locking In Your Interest Rate – An Essential Requirement For Personal Loans

As interest rates fluctuate very frequently, it may happen that the rate has changed in between the day you applied for a personal loan and the day you close. So it is important to lock in your rate of interest with your lender. Or else you may face problems.