To qualify for a $100,000 loan, an annual income of around $26,000, an excellent credit score and history and possibly a form of collateral are typically required. Frequently, a home is used as collateral if the loan prospect has enough equity. Recreational vehicles are accepted as collateral in some cases.
Banks offering loans of this nature want to ensure that the borrower is capable of repaying the loan. The bank examines the potential borrower's credit score and history along with bank statements and tax returns to make sure he brings in enough capital to support repayment of the loan that he is requesting.