Can I get a personal loan with no job?

The federal Equal Credit Opportunity Act prohibits lenders from declining solely because you lack a W-2 job, as long as you have qualifying income. Acceptable income includes Social Security, disability, veterans benefits, pension, annuities, regular retirement distributions, and (in many cases) unemployment insurance.

Your debt-to-income ratio still has to support the new monthly payment. If your only income is $1,200/month from Social Security and you want a $10,000 loan with a $250/month payment, lenders will look at whether the payment leaves enough for basic living expenses. Lower loan amounts are easier to approve in these situations.

Adding a co-applicant with W-2 income often unlocks better terms. Federal credit-union PALs are also more flexible on income verification than mainstream personal-loan lenders.