Find a $17,000 personal loan
Image: 17000Where to get a $17,000 loan
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A $17,000 loan can help you consolidate debt, fund a home improvement project or finance a major purchase.
The right personal loan can offer competitive rates, minimal fees and a reasonable timeline for repayment. But not all personal loans feature great terms, and it can be hard to find the lender that’s the right fit for your needs.
We’ve picked out some of the best lenders that offer $17,000 loans and put together some tips to help guide you through the process of applying.
Monthly payments for a $17,000 personal loan
| Loan duration | Average monthly payments ($17,000 loan) | |||
|---|---|---|---|---|
| Poor credit | Average credit | Good credit | Excellent credit | |
| 1–12 months | $1,521.50 | $1,510.00 | $1,479.40 | $1,481.14 |
| 13–24 months | $800.39 | $795.80 | $778.60 | $762.67 |
| 25–36 months | $588.02 | $570.22 | $547.70 | $530.18 |
| 37–48 months | $499.83 | $475.67 | $448.71 | $427.98 |
The best $17,000 personal loans
SoFi
You may need strong credit to qualify with SoFi. But if you do, you can access specialized perks in addition to competitive rates. And if you lose your job through no fault of your own while you’re paying off a SoFi loan, you may be able to temporarily modify your payments.
Avant
Avant offers personal loans specially designed for borrowers with fair credit. But the highest rates with the lender can be costly. Adding to the cost, Avant may charge you an administration fee when you take out your loan, and the lender also charges late and “dishonored” payment fees.
Upgrade
Upgrade offers some flexible loan terms and amounts, and you’ll have the option to prequalify. The lender doesn’t charge prepayment penalties (which is good if you pay your loan off early), but it does charge an origination fee that will add to your costs.
Alliant Credit Union
Alliant Credit Union might be a solid choice if you’d like a personal loan with flexible repayment terms and the potential for a same-day loan. (Depending on your bank, there may be a wait before you can access your cash.) But you must meet certain membership criteria to join this credit union and apply for a loan.
Prosper
Prosper’s rates can be high compared to competitors, but it allows co-borrowers on applications and doesn’t list a minimum income requirement. You’ll have to pay an origination fee on the loan and face other fees for late payments, insufficient funds and check processing.
How to get a $17,000 loan
Getting a $17,000 loan starts with taking stock of your financial situation. Checking your credit can give you a sense of the kind of terms you might receive on a loan, as well as help set expectations for the shopping process.
When you’re ready to apply for a personal loan, you’ll first want to narrow your search based on eligibility requirements. Make sure lenders offer the $17,000 loan you’re looking for, but you’ll want to consider other factors as well.
For instance, not every lender works in every state, and some might not allow you to use your loan funds for your intended purpose.
Once you have a list of possible lenders, it’s a good idea to see if they offer prequalification, which allows you to see your potential rates and terms without triggering a hard credit inquiry. While prequalification doesn’t involve submitting a formal application, you should expect to provide personal information such as your income.
Keep in mind that prequalification is not a guarantee of approval or exact terms. You’ll still need to apply formally, which usually involves a hard credit check and have a temporary impact on your credit.
The best available lender might not be the one that listed the lowest interest rate during prequalification. Other fees, such as an origination fee or prepayment penalty, could affect your total cost, so make sure to consider them when determining the most affordable loan.
We also recommend using a loan calculator to determine the total cost of a potential loan.
FAQs about $17,000 loans
$17,000 loans may be available to borrowers with different kinds of credit histories, but each lender will have its own requirements for approval. It’s worth keeping in mind that the best loan terms usually go only to people with excellent credit. If a lender advertises rates starting in the single digits, try to find out their full range of available rates and fees to get a better sense of their offerings.
Many lenders consider applicants with less-than-perfect credit, so they may be a better choice if you’re looking to get approved for a loan. Even so, loans for bad credit tend to come with higher interest rates and fees. If you have bad credit, look for lenders that offer prequalification — this can give you an idea of the terms you might be offered before you commit, without hard inquiry that can temporarily bring your scores down further.