What is the minimum salary to get a loan?

What is the minimum salary to get a loan?


It depends on what type of loan you’re talking about. If you’re just seeking a $1,000 loan then a $2,000 – $3,000 income may cover that.

However, if you’re look for a home equity line of credit or a larger unsecured loan then your income must be much larger. A lender will look at your debt-to-income ratio to ensure your income is proportionate enough to the debt you’re taking on.

What type of loan or financing are you looking for? Please select one of the these options to start the short application. We will review your information to find the most suitable provider for you!

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Vlad Sherbatov

Vlad is the President and Co-Founder of Smarter Loans, Canada's original and largest loan comparison website. He is a passionate entrepreneur and business leader in the Canadian financial sector. He was selected as a 2019 Top 25 Leaders in Lending by the Canadian Lenders Association. Vlad is an author at Smarter Loans, and has been featured in publications like the Toronto Star and National Post, among others.