Find an $80,000 personal loan
Image: 80000Where to get an $80,000 loan
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An $80,000 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 $80,000 loans and put together some tips to help guide you through the process of applying.
Monthly payments for an $80,000 personal loan
| Loan duration | Average monthly payments ($80,000 loan) | |||
|---|---|---|---|---|
| Poor credit | Average credit | Good credit | Excellent credit | |
| 1–12 months | $23,962.50 | $15,753.50 | $11,578.00 | $6,874.00 |
| 13–24 months | $3,435.50 | $3,648.25 | $3,673.92 | $3,574.38 |
| 25–36 months | $2,628.22 | $2,575.14 | $2,565.94 | $2,516.29 |
| 37–48 months | $2,086.85 | $2,083.74 | $2,083.35 | $2,025.47 |
Average monthly loan payments are based on aggregate TransUnion credit report data from Credit Karma members with active personal loans as of December 2022
The best $80,000 personal loans
USAA
You can get an autopay discount on your interest rate, and you won’t pay application or prepayment penalty fees. But only USAA members can apply, and membership is limited to veterans, service members and military family members.
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.
Wells Fargo
You won’t be charged an origination fee or prepayment penalty. And setting up autopay will qualify you for an interest rate discount. But you must already be a Wells Fargo customer to apply for a loan. And while Wells Fargo offers a rate-estimate calculator, it doesn’t provide the option to prequalify, so your only application option comes with a hard credit check.
LightStream
Only borrowers with good-to-excellent credit can qualify with LightStream, but the lender offers competitive interest rates and a rate discount for autopay. Unfortunately, there’s no prequalification process available.
How to get an $80,000 loan
Applying for an $80,000 loan can take some work, but it’s worth the effort if you can save money by consolidating debt at a lower rate or finance home renovations that increase your home value.
Start by collecting basic information about your finances, such as …
- W2s
- Recent paystubs
- Identification/Social Security number/driver’s license
- Desired loan amount
- Monthly expenses, such as housing costs and debt
- Information about any collateral you want to use
From there, it’s a good idea to apply for prequalification. This lets you preview your potential rate without a hard credit inquiry. It will also give you a good idea of which lender may be the best fit for you.
Once you decide to move forward and officially apply though, the lender will likely perform a hard credit inquiry that can have a temporary effect on your credit scores.
If you apply for a personal loan, you may be able to access money within a few days.
But home equity loans or HELOCs can take up to a month or more to disburse funds. (Loans that tap your home equity usually have lower rates than unsecured personal loans, so it may be worth the wait.)
FAQs about $80,000 loans
The ease of getting an $80,000 loan depends on your credit and a lender’s specific approval requirements. Borrowers with higher credit scores are more likely to be approved for a broader range of loans and with better terms. But certain lenders market to people whose credit is on the lower end of the spectrum, which takes some guesswork out of the application process. Those lenders likely charge higher interest rates and fees to applicants with bad credit. So when shopping for loans, look at a lender’s full range of rates and fees, not just their lowest advertised terms, and use prequalification to get an idea of what those terms might be for you.
$80,000 loans may be available to people with no credit or bad credit, these options likely will come with higher interest rates, fees, or even the need to provide collateral to get approved. If you don’t have a strong credit history, lenders might consider you a risk and structure your loan terms with that in mind. It’s a good idea to apply to prequalify with various lenders so you can shop around and compare potential offers without a hard credit inquiry that can temporarily hurt your credit scores.