Secured Loan Info
The ways to get a secured loan from Umpqua Bank are: apply online or visit the branch of your choice if you live in Arizona, California, Colorado, Idaho, Nevada, Oregon, Utah or Washington.
You must be at least 18 years of age and meet several requirements:
- Have a score of 650 or higher.
- Possess a CD to serve as collateral
- Show a debt to income ratio of less than 50%.
- Have permanent residency or U.S. citizenship.
In addition, there are several essential documents to process the application:
- Gross monthly income
- Social Security Number
- Valid driver's license
- Monthly housing or rental cost
After you submit the paperwork and your application is processed, the bank will analyze your case in order to grant you approval. We remind you that this loan does not require you to have an Umpqua checking or savings account, but having one allows you to obtain a 0.5% discount on the APR through automatic payment of the monthly payments.
There are other relevant facts about this financing that you should know. You can opt for an unsecured loan, you have the option to make a joint application and you need proof of assets when you want $50k or more. In case of doubts, you have the phone number: 1-(866)-486-7782, the chat on their website or the Go-To app.
Umpqua Bank's secured loan is an option that allows you to start, repair or consolidate your credit history. Although this financing is less popular, you can get better conditions and larger amounts. At Busconomico, we have many to choose from.
Español: Préstamo personal asegurado del banco Umpqua