Personal Loan With a 650 Credit Score: What Fair Credit Gets You and What It Costs
At 650 you are in FICO's "Fair" band, about 20 points below "Good." Plenty of mainstream online lenders work with fair credit, and many of them publish their terms. The catch at this score is less about whether you can borrow and more about what borrowing costs once fees are included. This page covers which lender types serve a 650, how origination fees change what you receive, and when adding a cosigner or co-applicant is worth the risk to them.
Key takeaways
- myFICO's "Fair" band runs from 580 to 669 and says "many lenders will approve loans with this score."
- LendingTree's Q2 2026 average APR for 580 to 669 was 27.52%, about five points above the 670 to 739 tier.
- Origination fees of up to 9.99% at some lenders come out of your proceeds. On $10,000, that can mean $9,001 in hand.
- A cosigner can help, but the FTC warns they can be pursued for the full debt without the lender first trying to collect from you.
This is one of our guides to personal loans by credit score.
Can you get a personal loan with a 650 credit score?
Often, yes, though no one can promise approval. myFICO describes 580 to 669 as "Fair" and says a score there is "below the average score of U.S. consumers, though many lenders will approve loans with this score." Experian counted 14.9% of consumers in that band in 2025.
Lenders that publish their terms for fair-credit borrowers tend to be online lenders and finance companies. Avant says on its own site that you "may qualify for a loan through Avant with a minimum credit score of 550," and that most of its customers had scores between 600 and 700 (from an Avant blog post published in October 2022). Upstart says its model "considers additional variables like employment and education." OneMain offers both secured and unsecured loans, which matters at this band because collateral can change the answer.
What APR should you expect at 650?
LendingTree's offer data for the second quarter of 2026 shows an average APR of 27.52% for "Fair (580-669)," against 22.70% for 670 to 739 and 30.51% under 580. A second table on the same page puts the Fair tier at 27.79%. Those averages cover loans of $5,000 to $54,999 over 36 to 83 months.
On a $5,000 loan over 36 months, 27.52% works out to $205.52 a month and $2,398.72 in interest, computed by Loans Generator. Compare that with the site's representative example below.
Representative example. For a $5,000 loan at a 10% APR over 36 months, the monthly repayment would be $161.34. Over the term, the total repayment would amount to $5,808.24, with $808.24 in interest. The loan terms range from 6 months to 12 years, with APRs between 5.99% and 35.99%. The exact rate you receive depends on factors like your creditworthiness, loan size, and repayment schedule. Better rates are typically offered to those with excellent credit.
Published ranges at lenders that work with fair credit, from each lender's own page on October 1, 2026:
| Lender | APR range | Amounts | Fee | Notes |
|---|---|---|---|---|
| Avant | 9.95% to 35.99% | $2,000 to $35,000 | Administration fee up to 9.99% | Terms 24 to 60 months |
| Upgrade | 7.74% to 35.99% | $1,000 to $50,000 | Example shows 5% | Joint applications accepted |
| Best Egg | 6.99% to 35.99% | $2,000 to $50,000 (rate tool) | Up to 9.99% | Rate tool "Fair" band is 560 to 669 |
| Upstart | 6.3% to 35.99% | $1,000 to $75,000 | Example shows 8.15% | 3- or 5-year terms |
| OneMain | 11.99% to 35.99% | $1,500 to $30,000 | See lender | Secured and unsecured offers |
How do origination fees change what you receive?
This is where fair-credit loans most often surprise people. Most fee-charging lenders take the fee out of the loan before it reaches you, and you repay the full amount.
- Best Egg: "the origination fee will be deducted from your loan proceeds," up to 9.99%.
- Avant: the administration fee of up to 9.99% "is deducted from the loan proceeds" and "is deemed part of the loan principal and is subject to the accrual of interest."
- Upgrade's example: a $10,000 loan with a 5% fee deposits $9,500.
- SoFi's fee range is 0% to 7%, also deducted from proceeds.
If you need a set amount in hand, divide it by (1 minus the fee rate). To net $5,000 with a 9.99% fee you would borrow about $5,554.94; with a 5% fee, about $5,263.16. Our origination fee calculator does this for any amount and fee.
Fee check. Two offers with the same interest rate can have very different APRs. Always compare APR, which folds the fee in, and check the dollar amount that will actually arrive in your account.
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When does a cosigner or co-applicant help at 650?
Adding a second person with stronger credit or income can improve the offer. Upgrade accepts joint applications and says one "may help you qualify for a bigger loan and/or a better rate," with both applicants' credit profiles considered and both responsible for repayment. SoFi's page also refers to applying with a co-borrower.
Before you ask someone, be clear about what you are asking. The FTC's cosigning guidance says a cosigner "may have to pay up to the full amount of the debt if the borrower does not pay," plus late fees or collection costs, and that "the creditor can collect this debt from you without first trying to collect from the borrower" (some states require creditors to try the main borrower first). The loan can appear on the cosigner's credit report and can limit their ability to get credit even if you pay on time.
A cosigner makes the most sense when your score is close to the next band, your income is solid, and the cosigner can afford the payment if you can't. For which lender types allow a cosigner or co-borrower, see personal loans with a cosigner.
Is it worth getting from 650 to 670 first?
At the LendingTree averages, $10,000 over 36 months costs $4,797.80 in interest at 27.52% and $3,879.44 at 22.70%, a difference of $918.36. If your expense can wait, moving into the Good band can be worth more than shopping lenders. Our guide to a 700 credit score shows what changes in that tier. If your score is closer to 600, the 600 credit score guide covers lenders and prep steps for that band.
Who this is for
Borrowers with scores roughly between 620 and 669 who are comparing offers and want to understand fees and the cosigner option.
What to do next
Decide the amount you need in hand, gross it up for fees, then prequalify with several lenders on the same term. Compare APR, total repayment and proceeds.
Common questions
What credit score do you need for a personal loan?
There is no single minimum. Avant states a 550 minimum on its own site; many lenders publish no minimum at all. A 650 is in the range many lenders serve.
What is a typical APR for a 650 credit score?
LendingTree's Q2 2026 average for 580 to 669 was 27.52% APR. Individual offers can be lower or higher depending on income, DTI, term and fees.
Can I avoid an origination fee with fair credit?
Some lenders charge no fee, and SoFi's range starts at 0%, but many lenders that serve fair credit do charge one. Compare APR and proceeds.
Does a cosigner make approval certain?
No. A cosigner can strengthen an application, but approval depends on both applicants and the lender's rules, and not every lender accepts cosigners.
Will prequalifying hurt my 650 score?
The CFPB says soft inquiries, such as prescreening, do not affect your score. A formal application usually triggers a hard inquiry, which can.
How we researched this
We read each lender's own disclosures and the FTC, myFICO, Experian and LendingTree pages below on October 1, 2026, and computed all payments and fee examples.
Sources
- myFICO, "What is a FICO Score?" https://www.myfico.com/credit-education/what-is-a-fico-score (accessed October 1, 2026)
- Experian, "What Is the Average Credit Score in the US?" https://www.experian.com/blogs/ask-experian/what-is-the-average-credit-score-in-the-u-s/ (accessed October 1, 2026)
- LendingTree, "Best Personal Loans with the Lowest Rates," https://www.lendingtree.com/personal/ (accessed October 1, 2026)
- Avant, home page loan disclosures, https://www.avant.com/ (accessed October 1, 2026)
- Avant, "How to Get a Personal Loan," https://www.avant.com/blog/borrow/how-to-get-a-loan/ (accessed October 1, 2026)
- Best Egg, "Personal Loans," https://www.bestegg.com/personal-loans/ (accessed October 1, 2026)
- Upgrade, "Personal Loans," https://www.upgrade.com/personal-loans/ (accessed October 1, 2026)
- Upstart, "Personal Loans," https://www.upstart.com/personal-loans (accessed October 1, 2026)
- OneMain Financial, "Personal Loans," https://www.onemainfinancial.com/personal-loans (accessed October 1, 2026)
- SoFi, "Personal Loans," https://www.sofi.com/personal-loans/ (accessed October 1, 2026)
- CFPB, "What is a credit inquiry?" https://www.consumerfinance.gov/ask-cfpb/what-is-a-credit-inquiry-en-1317/ (accessed October 1, 2026)
- FTC, "Cosigning a Loan FAQs," https://consumer.ftc.gov/articles/cosigning-loan-faqs (accessed October 1, 2026)
Loans Generator is not a loan provider or broker. We connect users with lending partners who may offer loans. Submitting a connection request on our site does not count as a loan application. To receive an actual loan offer, you must apply directly with a lender. We cannot guarantee loan approval or the terms shown on our website. Always review the loan agreement carefully before proceeding. Availability, rates, and terms vary by lender and by state. Rates, lender terms and regulatory details cited on this page were checked on October 1, 2026 and change without notice. This page is general information, not legal or financial advice.