$75,000 personal loans

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Personal loans of this size aren’t always easy to come by. Many online lenders only offer up to $50,000 in personal loans. And even if you find a lender that does offer $75,000 loans, you likely won’t be able to qualify if you just meet its minimum eligibility requirements.

Our top pick: Monevo Personal Loans

  • Min. Credit Score Required: 500
  • Min. Loan Amount: $500
  • Max. Loan Amount: $100,000
  • APR: 3.99% to 35.99%
  • Requirements: Credit score of 500+, legal US resident and ages 18+.
  • No obligation offers
  • Quick online decision
  • Award-winning service

Our top pick: Monevo Personal Loans

Quickly compare multiple online lenders with competitive rates depending on your credit.

  • Min. Credit Score Required: 500
  • Min. Loan Amount: $500
  • Max. Loan Amount: $100,000
  • APR: 3.99% to 35.99%
  • Requirements: Credit score of 500+, legal US resident and ages 18+.

How to get a $75,000 personal loan

You can get a $75,000 personal loan with some online lenders, banks and credit unions. Typically, you can get started on your application by filling out a quick online form to see if you prequalify — most lenders base this on a soft credit pull so your score won’t be affected.

Since $75,000 is on the high end for a personal loan, the process might take slightly longer and require more documents than loans of a smaller amount. Online lenders can typically get you funds within a few business days once you’re approved, while banks and credit unions often take longer.

Compare providers that offer $75,000 personal loans

In addition to the minimum eligibility criteria, these lenders often impose stricter than the minimum requirements for this high loan amount.

Updated October 17th, 2019
Name Product Filter Values APR Min. Credit Score Max. Loan Amount
3.99% to 35.99%
Quickly compare multiple online lenders with competitive rates depending on your credit.
3.84% to 35.99%
Good to excellent credit
Get loan offers from multiple lenders at once without affecting your credit score.
4.99% to 35.99%
Good to excellent credit
Get personalized rates in minutes and then choose a loan offer from several top online lenders.
3.84% to 35.99%
Get connected to competitive loan offers instantly from top online consumer lenders.
Good to excellent credit
Borrow up to $100,000 with low rates and no fees.
5.99% to 17.66%
No fees. Multiple member perks such as community events and career coaching.

Compare up to 4 providers

Can I qualify?

It depends on your lender, but you generally need to have a strong credit history and show you can afford repayments on a $75,000 personal loan. You might have better luck applying if you:

  • Have a 670 credit score or higher. Generally, you need good to excellent credit to qualify for a loan of this size.
  • Have a DTI below 20%. Most lenders won’t work with anyone with a debt-to-income (DTI) ratio of 43% or higher, but you’ll have more luck getting approved if your DTI is under 20%.
  • Make at least $32,000. You need to bring in at least this much per year to afford the lowest possible monthly repayments. For short terms and higher rates, you might need to make $83,000 a year to afford repayments.

Lenders also consider factors like your work history, level of education and the length of your credit history.

How much does a $75,000 loan cost?

How much your $75,000 loan costs depends on the loan term and APR you qualify for. The longer the loan term and lower the APR, the less it’ll cost per month. A shorter loan term gives you higher repayments, but will reduce the overall cost of your loan.

Let’s take a look at some examples. Say you took out a $75,000 loan at the typically lowest and highest rates that lenders offer: 3.99% to 35.99% APR. Here’s how much you could expect to pay per month and in total for different loan terms.

Loan termMonthly repayment with 3.99% APRMonthly repayment with 35.99% APRTotal cost with 3.99% APRTotal cost with 35.99% APR
2 years$3,256.54$4,428.16$3,156.85$31,275.81
3 years$2,213.97$3,434.86$4,702.75$48,654.87
4 years$1,693.09$2,967.88$6,268.49$67,458.07
5 years$1,380.90$2,709.49$7,854.04$87,569.29
6 years$1,173.05$2,553.54$9,459.39$108,855.24
7 years$1,024.82$2,454.46$11,084.48$131,174.22

As this table shows, you need to be able to afford monthly repayments of at least $1,000 to afford a $75,000 personal loan — likely more. If you can only qualify for the highest rate and lowest term, you could end up paying nearly twice as much in interest as the loan itself.

Calculate your monthly repayments

Have a loan in mind? Use our calculator to find out how much your $75,000 loan will cost you at different rates and terms.

3 tips to pay off $75,000 in debt faster

A $75,000 loan can easily cost you five figures in interest and large monthly repayments. Consider signing up with a lender that doesn’t charge a penalty for paying off your loan early so you can get out of debt faster with one of these tips:

  1. Pay every two weeks. Making biweekly repayments instead of paying once a month can help you pay off your loan ahead of schedule.
  2. Sign up for autopay. Some lenders like SoFi offer a rate discount to borrowers who sign up for automatic payments. While this won’t change your term, it can free up some funds to make extra repayments.
  3. Use your tax refund. Put your tax refund toward your loan repayments to make one large extra payment each year.

How to pay off a personal loan early

Can I get a $75,000 mortgage?

You can. In fact, $75,000 mortgages are more common than $75,000 personal loans. Since they typically come with longer repayment terms, your monthly cost might be more affordable if you’re using the loan to purchase a home. Plus, mortgages are secured loans so you might be able to qualify for a more competitive rate.

You can learn all about your options by checking out our guide to mortgages.

Bottom line

A $75,000 personal loan isn’t as easy to qualify for as other amounts — you need a strong credit score and high enough income to afford repayments of over $1,000 a month. And watch out for long loan terms — it can more than triple the cost of your loan.

Want to learn more about how it all works? Read our guide to personal loans to compare more lenders and explore other options.

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