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

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It’s possible to get an $80,000 personal loan — but big loans can come with higher costs. Therefore, carefully compare the APR and loan terms before choosing one that is right for you. (one)

If you are looking to consolidate credit card debt or finance a major home renovation, you can turn to a personal loan. Unsecured personal loans offer a flexible way to borrow money at stable, fixed rates without risking your property as collateral. Some lenders offer personal loans of $80,000 or more, although you need good to excellent credit to borrow such a large amount.

Before you take out an $80,000 personal loan, you should consider all your options to find the right loan 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 Experian data. With this growth, more and more lenders are offering personal loans. Here is an $80,000 personal loan.

  • online lenders — Companies specializing in personal loans, such as Avant, Payoff, and Upstart, allow borrowers to apply for a loan and get money in days. It’s relatively easy to compare interest rates and fees with online lenders – and many of these lenders allow you to get a customized loan estimate in minutes.
  • banks and credit unions — Brick-and-mortar institutions can also offer unsecured personal loans, and many have an online application process. These institutions may offer the benefit of allowing you to meet in person with a loan officer 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.

With Credible, you can compare personal loan rates from different lenders in minutes.

Things to Consider When Comparing $80,000 Loans

Before committing to a personal loan, get quotes from different lenders to see the interest 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 any fees charged. This represents your cost of borrowing. Most personal lenders advertise their APR, and looking at this rather than just the rate provides a better comparison.
  • fees — Personal loans often come with processing fees, usually a percentage of the loan amount that’s deducted before the money hits your bank account. With good credit, you should be able to find a lender that doesn’t charge a referral fee. You should also be able to avoid application and other fees.
  • repayment period — This is the time you have to repay the loan. The term of a personal loan can be as short as one year and 10 to 12 years. With an $80,000 personal loan, you’ll probably want to find a lender that offers longer repayment terms to reduce your monthly payment. However, keep in mind that a longer loan term will increase the amount you end up paying in interest.
  • Monthly payment — The amount of the loan, the interest rate and the term determine your monthly payment. Make sure you find out the monthly payment for each loan you’re considering and see if it fits your budget.
  • total cost of the loan — All of this contributes to the total amount you pay on your personal loan. Higher interest rates and longer maturities increase the interest you pay over time, which means you pay a higher amount to borrow.

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

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

Those with better credit generally qualify for a lower APR than those with poor credit. That’s because lower credit scores put the lender at greater risk, and companies charge higher interest rates to compensate.

If you have excellent credit, you may qualify for an APR of as little as 2.5% to 5%. If your credit rating is fair to poor, your APR can be as high as 20% or more. This difference in interest rates can mean a dramatic increase in the amount you owe. For example, an $80,000 personal loan with an APR of 3% repaid over five years would have a monthly payment of $1,437. Over the course of the loan, you would pay $86,249. At an APR of 19%, your monthly payment for the 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 have lower monthly payments but result in higher total payments over the life of the loan. Here’s how your costs break down into two different scenarios — an $80,000 personal loan with a 10% APR and a three-year term versus a five-year loan.

Three-year term

  • Monthly payment – $2,581
  • total cost – $92,929

Five-year term

  • Monthly payment – $1,700
  • total cost – $101,985

Compare personal loan rates with Credible without hurting your credit score.

$80,000 personal lenders to consider

While a number of financial institutions offer personal loans, not all will lend you $80,000. Here are two credible partner lenders offering $80,000 personal loans.

Luminous flux

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

  • Loan Amounts: $5,000 to $100,000
  • Refund Terms: Two to seven years (12 years for home loans)
  • Average financing duration: On the same working day
  • Who could it be good for: Individuals looking for lower monthly payments over a longer period of time


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

  • Loan Amounts: $5,000 to $100,000
  • Refund Terms: Two to seven years
  • Average financing duration: Already after three working days
  • Who could it be good for: People who want help in their careers and protection if they lose their jobs

The following lender is not a credible partner but still offers $80,000 in 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
  • Refund Terms: One to seven years
  • Average financing duration: Already on the same or next working day
  • Who could it be good for: People who want to pay off their loan faster

Other lenders may also offer $80,000 personal loans, so it’s important to shop around and compare your options. When you’re ready to find a personal loan that’s right for you, compare personal loan rates in minutes with Credible.

Alternatives to an $80,000 Personal Loan

If you need $80,000 for a home project or for debt consolidation, a personal loan isn’t your only option. Here are some others to consider.

home loan

A home equity loan is paid off in one 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 typically have a fixed interest rate, which means you’ll receive the same monthly payment for the life of your loan. Because these loans are secured by your home, they typically have lower interest rates. But you risk losing your home to foreclosure if you can’t make your payments.


Homeowners can also take out a home equity line of credit, or HELOC, another loan based on your home’s equity. These loans work more like a credit card. When you complete a HELOC, you enter the draw period and can spend up to your credit limit if needed. Then enter the repayment term and pay back the borrowed money with interest. These loans usually have variable interest rates, which means your monthly payment will change over the course of your loan. HELOCs are also secured by your property.

Cash-out refinancing

With a cash-out 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 the difference will accrue to you in cash. These loans have lower interest rates than other options, although you generally pay a significant amount in closing costs.

Add a co-signer

If you’re having trouble qualifying for an $80,000 personal loan, you may consider finding a trusted friend or relative to co-sign your loan. You are equally responsible for paying back the loan if you cannot make your payments. But if they have a solid credit history, it can help you qualify for a loan or a low interest rate.

Borrow a smaller amount

It can be difficult to qualify for an $80,000 personal loan. Consider applying for a smaller loan if you’re having trouble finding a lender for the full amount.

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