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Where can I get an $80,000 personal loan?


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An $80,000 personal loan may be harder to come by, but many online lenders and banks will offer this amount to borrowers with good credit. (iStock)

Some lenders offer personal loans of $80,000 or more, but you’ll need good to excellent credit to borrow such a large amount.

Before taking out an $80,000 personal loan, consider all of your options to find the loan that’s right for you. Here’s where to look for an $80,000 loan and some things to consider before getting a big personal loan.

Where can I get an $80,000 personal loan?

The personal loan market has grown rapidly in recent years, reaching a record $323 billion in the third quarter of 2020, according to data from Experian. With this growth, more and more lenders are offering personal loans. Here’s where to find an $80,000 personal loan.

Online lenders

The companies that specialize in personal loans, like Avant, Payoff and Upstart, allow borrowers to apply for a loan and receive money within days. With online lenders, it’s relatively easy to compare interest rates and fees – and many of these lenders allow you to obtain a personalized loan estimate in a few minutes.

Compare personal loan rates using Credible without affecting your credit score.

Banks and credit unions

Physical institutions may also offer unsecured personal loans, and many have an online application process. These institutions may offer the advantage of allowing you to meet with a loan officer in person to discuss your financial situation. Some banks and credit unions may also offer discounts if you have a checking account or other product with them.

$80,000 personal lenders to consider

Although a number of financial institutions offer personal loans, not all of them will lend you $80,000. Here are two credible partner lenders to consider that offer $80,000 personal loans:


LightStream offers loans of up to $100,000 with no origination fees and longer loan terms than most competitors.

  • Loan amounts: $5,000 to $100,000
  • Repayment Terms : 2 to 7 years (12 years for renovation credits)
  • Average funding time: As soon as the same working day
  • Who might it be good for: People looking for lower monthly payments over a longer term


SoFi offers unemployment protection, which means your payments will be suspended if you lose your job – and you may also be eligible for career coaching.

  • Loan amounts: $5,000 to $100,000
  • Repayment Terms : 2 to 7 years old
  • Average funding time: From 3 working days
  • Who might it be good for: People who want help in their career and protection if they lose their job

The following lender is not a credible partner, but still offers $80,000 personal loans and is worth a look.

Wells Fargo

Wells Fargo offers a wide range of loan amounts, fast financing and no fees.

  • Loan amounts: $3,000 to $100,000
  • Repayment Terms : 1 to 7 years old
  • Average funding time: From the same day or the next working day
  • Who might it be good for: People who want to repay their loan faster

Other lenders may also offer $80,000 personal loans, so it’s important to shop around and compare your options.

Things to Consider When Comparing $80,000 Personal Loans

Before committing to a personal loan, get quotes from several different lenders to see the rates and terms they offer. Here are some things to compare:

  • APR – APR stands for annual percentage rate and takes into account the interest rate and fees charged. This represents your cost of borrowing. Most personal lenders advertise their APRs, and looking at them rather than just the interest rate provides a better comparison.
  • Costs – Personal loans often come with an origination fee, usually a percentage of the loan amount that is deducted before the money reaches your bank account. With a good credit score, you should be able to find a lender that does not charge origination fees. You should also be able to avoid application fees and other fees.
  • Repayment period – This is the length of time you have to repay the loan. Duration of personal loans can be as short as one year and as long as 10-12. With an $80,000 personal loan, you’ll probably want to find a lender that offers longer repayment terms to lower your monthly payment. Keep in mind, however, that a longer loan term will increase the amount you will ultimately pay in interest.
  • Monthly payment – Your loan amount, interest rate and repayment term determine your monthly payment. Make sure you know the monthly payment for each loan you are considering and see if it will fit your budget.
  • Total loan cost — All of the above will contribute to the total amount you pay for your personal loan. Higher interest rates and longer terms will increase the amount of interest you pay over time, which means you pay more to borrow money.

If you’re ready to find a personal loan that’s right for you, compare personal loan rates in minutes with Credible.

How much will an $80,000 personal loan cost?

The cost of your $80,000 personal loan will depend on the APR and repayment term. You can use a personal loan calculator like this one from Credible to determine what your monthly payment will be and the total cost based on the terms you are considering.

People with better credit will generally qualify for a lower APR than those with bad credit. This is because lower credit scores represent a higher risk for the lender and companies charge higher rates to compensate.

If you have excellent credit, you may qualify for APRs as low as 2.5% to 5%. If your credit is fair to poor, your APR may reach 20% or more. This interest rate difference can mean a dramatic increase in the amount you pay. For example, an $80,000 personal loan with a 3% APR repaid over five years would have a monthly payment of $1,437. Over the course of the loan, you would pay $86,249. With an APR of 19%, your monthly payment on that same five-year loan would be $2,075 and your total cost would be $124,514.

Loan terms can also make a big difference. Longer terms will result in lower monthly payments, but result in larger total payments over the life of the loan. Here’s how your costs break down in two different scenarios – an $80,000 personal loan with an APR of 10% and a three-year term versus one with a five-year term.

Three-year term

  • Monthly payment: $2,581
  • Total cost: $92,929

Five-year term

  • Monthly payment: $1,700
  • Total cost: $101,985

Alternatives to an $80,000 Personal Loan

If you need $80,000 for a real estate project or to consolidate your debts, a personal loan is not your only option. Here are a few more to consider.

Home Equity Loan

A home equity loan is paid out in a lump sum and the amount you can borrow is based on the equity in your home. (Equity is the difference between the value of your home and the amount you owe on your mortgage.) Home equity loans usually have a fixed rate, which means you’ll have the same monthly payment for the entire term. term of your loan. Because these loans are secured by your home, they tend to have lower interest rates. But you risk losing your home to foreclosure if you can’t make your payments.


Owners can also purchase a home equity line of credit, or HELOC, which is another loan based on the equity in your home. These loans work more like a credit card. When you purchase a HELOC, you enter the drawdown period and can spend up to your credit limit as needed. Then you will enter the repayment period, repaying the money you borrowed with interest. These loans usually have variable rates, which means your monthly payment will change over the course of your loan. HELOCs are also secured by your property.

Refinancing by collection

With a cash refinance, you take out a new mortgage that pays off and replaces your original mortgage. Your new mortgage is for more than you currently owe, and you get the difference in cash. These loans have lower interest rates than other options, although you usually pay a substantial amount in closing costs.

Add a co-signer

If you’re having trouble qualifying for an $80,000 personal loan, you might consider finding a trusted friend or relative to co-sign your loan. They will also be responsible for repaying the loan if you are unable to make your payments. But if they have strong credit, it can help you qualify for a loan or a low rate.

Borrow a smaller amount

A personal loan of $80,000 can be difficult to obtain. Consider applying for a smaller loan if you are having difficulty finding a lender for the full amount.

Credible, it’s easy to compare personal loan rates from multiple lenders without affecting your credit.