Our goal is to give you the tools and confidence you need to improve your finances. Although we receive compensation from our partner lenders, whom we will always identify, all opinions are our own. Credible Operations, Inc. NMLS # 1681276, is referred to here as “Credible.”

Whether you’re adding onto your home, undergoing costly medical procedures, or facing another substantial expense, a personal loan could help you pay for it.

If you need to borrow a large amount — such as a $75,000 personal loan — be sure to carefully consider all of your lender options to find the right loan for you.

Here’s what you should know before getting a $75,000 personal loan:

Where to get a $75,000 personal loan

Here are some of your lender options when it comes to getting a $75,000 personal loan:

Online lenders

Online lenders can be a good source for finding large personal loans. In many cases, they offer an easy application process and fast loan decisions.

The time to fund for online lenders is typically less than five business days — though depending on the lender, you might get your money as soon as the same or next business day if you’re approved.

Here are Credible’s partner lenders that offer personal loans of $75,000 or more:

LenderRatesLoan Amounts
lightstream
View details
3.99% – 19.99% APR$5,000 up to $100,000
  • Rates: 3.99% – 19.99% APR
  • Loan terms (years): 2, 3, 4, 5, 6, 7 (up to 12 years for home improvement loans)
  • Loan amount: $5,000 to $100,000
  • Fees: None
  • Discounts: Autopay
  • Eligibility: Available in all states except RI and VT
  • Min. income: Does not disclose
  • Customer service: Phone, email
  • Soft credit check: No
  • Min. credit score: 660
  • Time to get funds: As soon as the same business day
  • Loan uses: Credit card refinancing, debt consolidation, home improvement, and other purposes

LightStream personal loans review

LightStream disclosure

sofi
View details
5.99% – 18.83% APR$5,000 up to $100,000
  • Rates: 5.99% – 18.83% APR
  • Loan terms (years): 2, 3, 4, 5, 6, 7
  • Loan amount: $5,000 to $100,000
  • Fees: None
  • Discounts: Autopay
  • Eligibility: Available in all states except MS
  • Min. income: Does not disclose
  • Customer service: Phone, email
  • Soft credit check: Yes
  • Min. credit score: Does not disclose
  • Time to get funds: 3 business days
  • Loan uses: Solely for personal, family, or household uses

SoFi personal loans review

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All APRs reflect autopay and loyalty discounts where available | LightStream disclosure | Read more about Rates and Terms
  • LightStream offers personal loans from $5,000 to $100,000. Most LightStream loans come with terms ranging from two to seven years — but if you’re using the loan for home improvements, you could have up to 12 years to repay it. Plus, if you’re approved, LightStream will fund your loan as soon as the same business day.
  • SoFi personal loans are available for $5,000 to $100,000 with terms from two to seven years. If you take out a loan with SoFi, you’ll also have access to perks like unemployment protection and free financial planning advice. If you’re approved, you could have your loan funds in three business days.

Learn More: Home Improvement Loans

Banks

Some major banks — such as Bank of America, Capital One, and Chase — don’t offer personal loans. However, others do. For example, with Wells Fargo, you might be able to borrow up to $100,000.

Also keep in mind that if you already have an account at a bank, you might qualify for a loyalty rate discount if you also take out a personal loan with them.

Do credit unions offer $75,000 personal loans? Generally, credit union personal loans aren’t available for such a high amount.

However, keep in mind that because credit unions are nonprofit organizations, they sometimes offer lower rates compared to banks. So if you can get by with less than $75,000, then a credit union could still be a good option.

Alliant Credit Union, for example, offers $50,000 personal loans — the highest loan amount you’ll typically see from a credit union.

Check Out: Where to Get a Personal Loan

What to consider when comparing $75,000 loans

To qualify for a $75,000 personal loan, you’ll likely need good to excellent credit, steady income, and a relatively low debt-to-income ratio so the lender knows you can comfortably afford the payments.

If you don’t meet these requirements, you might need to settle for a smaller loan amount or work on building your credit first.

Tip: If you’re struggling to get approved for a personal loan, another option is adding a cosigner to your application. Not all lenders offer cosigned personal loans, but some do.

Even if you don’t need a cosigner to qualify, having one could get you a lower interest rate than you’d get on your own.

If you’re ready to get a personal loan for $75,000, here are a few points to consider:

  1. Interest rates
  2. Fees
  3. Repayment terms
  4. Monthly payment
  5. Total repayment costs

1. Interest rates

The interest rate on a loan indicates how much you’ll pay in interest charges over the life of the loan and is usually the biggest cost associated with borrowing money.

Keep in mind: The repayment term you choose will also affect your rate. In most cases, the shorter the loan term, the lower the rate.

It’s important to consider how much your loan will cost you over time and how the interest rate impacts this. You can estimate how much you’ll pay for a loan using our personal loan calculator below

Enter your loan information to calculate how much you could pay

Total Payment
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Total Interest
$

Monthly Payment
$

With a
$
loan, you will pay
$
monthly and a total of
$
in interest over the life of your loan. You will pay a total of
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over the life of the
loan.


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2. Fees

Some lenders charge fees for personal loans. For example, you might come across:

  • Origination fees that are deducted before the loan is disbursed to you
  • Late fees if you miss payments
  • Prepayment penalties if you pay off the loan early
Tip: As you shop for a loan, be sure to double-check which lenders charge fees. Each lender is different, so this will vary.

Also keep in mind that if you take out a loan with one of Credible’s partner lenders, you won’t have to worry about prepayment penalties.

Learn More: How to Get a $50,000 Personal Loan Fast

3. Repayment terms

Personal loan terms typically range from one to seven years, depending on the lender. The term you choose will affect your monthly payment as well as your interest rate.

Check Out: Best Personal Loans

4. Monthly payment

The monthly payment on a loan is a major indicator of whether the loan will fit in your budget — especially with a loan amount as high as $75,000.

If you need a smaller monthly payment, you could opt for a longer repayment term.

Learn More: Good Credit Personal Loans

5. Total repayment costs

Finally, be sure to estimate the loan’s total repayment costs. Before signing for a loan, review the Truth in Lending Act (TILA) disclosure that the lender will provide. This will outline your loan’s interest rate, monthly payment, and fees (if any).

Pay special attention to these two numbers:

  1. The finance charge: This is the cost of your loan, including interest and fees, assuming you make all your payments on time.
  2. Total payments: This is the sum of all the payments you’ll make to pay off your loan, including the loan principal and finance charges.

Check Out: Home Equity Loans vs. Personal Loans

Cost to repay a $75k loan

The table below shows how different interest rates and loan terms could affect the total repayment cost for a $75,000 loan. Keep in mind that the interest rates shown are solely for illustrative purposes and are hypothetical.

Repayment termAPRMonthly paymentTotal interest
2 years5%$3,290$3,969
3 years6%$2,282$7,139
4 years7%$1,796$11,206
5 years8%$1,521$16,244
6 years9%$1,352$22,338
7 years10%$1,245$29,587

If you decide to take out a $75,000 personal loan, remember to consider as many lenders as you can to find the right loan for you. Credible makes this easy — you can compare your prequalified rates from multiple lenders in two minutes.


About Rates and Terms: Rates for personal loans provided by lenders on the Credible platform range between 4.99-35.99% APR with terms from 12 to 84 months. Rates presented include lender discounts for enrolling in autopay and loyalty programs, where applicable. Actual rates may be different from the rates advertised and/or shown and will be based on the lender’s eligibility criteria, which include factors such as credit score, loan amount, loan term, credit usage and history, and vary based on loan purpose. The lowest rates available typically require excellent credit, and for some lenders, may be reserved for specific loan purposes and/or shorter loan terms. The origination fee charged by the lenders on our platform ranges from 0% to 8%. Each lender has their own qualification criteria with respect to their autopay and loyalty discounts (e.g., some lenders require the borrower to elect autopay prior to loan funding in order to qualify for the autopay discount). All rates are determined by the lender and must be agreed upon between the borrower and the borrower’s chosen lender. For a loan of $10,000 with a three year repayment period, an interest rate of 7.99%, a $350 origination fee and an APR of 11.51%, the borrower will receive $9,650 at the time of loan funding and will make 36 monthly payments of $313.32. Assuming all on-time payments, and full performance of all terms and conditions of the loan contract and any discount programs enrolled in included in the APR/interest rate throughout the life of the loan, the borrower will pay a total of $11,279.43. As of March 12, 2019, none of the lenders on our platform require a down payment nor do they charge any prepayment penalties.



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