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How to get a personal loan in the USA as a nonresident

Moving to a different country can be exciting but exhausting. We simplify the process of getting a loan in the US.

Moving costs, flights and everything else that comes along with it can leave you feeling stretched.… 

Can I get a loan as a nonresident?

The simple answer is yes, you can. Some lenders may have stricter eligibility requirements that limit their loan offers to citizens and permanent residents. For lawful permanent and nonpermanent residents, applying for a loan is the same process as for citizens. There are no higher costs or fees, though interest rates may vary.

Are there restrictions for nonresidents?

Like most options for nonresidents of any country, there are restrictions — including for loans.

For instance:

If you are a nonresident who will be in the US for a limited time, approval for a loan may be hard.

If you are a foreign national or have diplomatic immunity, it’s much more difficult to get a mortgage because you are not subject to US law. This leaves lenders unprotected should you default on the loan.

What about my credit history?

For nonresidents to get a loan, a two-year credit history and valid credit score within the US ideal. That can be a difficult requirement for nonresidents. Depending on the lender, there are ways you can still get a loan.

Assemble a credit report with three nontraditional credit accounts — for example, a rental, utility or life insurance bill.

Obtain your credit history from a foreign independent credit reporting agency.

Get written verification from foreign creditors to establish a credit history.

Getting your paperwork together is only the first step in getting a loan. If you are emigrating from your home country to the US, you will need to convert your existing credit into US credit in order to apply for any kind of loan.

How to get nontraditional credit references

For many nonresidents, it may be possible to do a nontraditional credit check. This could help you get a loan without a credit score. You will need sufficient nontraditional credit references, and your credit accounts must be free of late payments, collections or foreclosure. Nontraditional credit references can include:

Your rental history

A history of payments for such utility bills as gas, electric, water or cable TV

Non-payroll-deducted medical, life, auto or renters insurance

School tuition

You should gather at least three nontraditional credit references, each showing 12 months of on-time payments.

Can I get a personal loan?

When applying for a personal loan in the US, you’ll quickly realize that they are not designed for nonresidents. The good news is that you are still eligible to apply for some personal loans, including mortgages and auto loans. There will be plenty of paperwork, so your patience is required.

Personal loans you may be eligible for as a nonresident

This research is based on public information, consideration for a loan will be determined by the provider, and is dependent on your unique circumstance.

ProviderLoans offered to nonresidents?Other requirementsProduct details

Yes, you might meet LendingClub’s eligibility criteria if you are a US citizen, permanent resident, or living in the US on a valid, long-term visa

At least 18 years old

The holder of a verifiable bank account

Loan amounts: $1,000 to $40,000

Loan term: 3 to 5 years

Go to site
More info

Yes, you might meet LendingPoint’s eligibility criteria if you can provide US federal, state or local government issued photo ID

18 or older

Valid SSN

Minimum annual income of $25,000

Verifiable personal bank account

Live in a state where LendingPoint operates

Loan amounts: $1,000 to $25,000

Loan terms: 2 to 4 years

Go to site


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  2. Replies
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