Personal loans can come from online lenders, banks, and credit unions. To qualify for a personal loan, you often need a steady source of income, a good credit score, and a low debt-to-income ratio.
Borrowers take out $35,000 personal loans for many reasons. Unlike other types of loans, personal loans don’t require the money to be used for a specific purpose. Common uses include medical expenses, consolidating debt, or renovating a home.
In this article, we’ll show you how to get a $35,000 loan, the monthly payments you may expect, and the pros and cons of a $35,000 personal loan.
What lenders offer personal loans for $35,000?
Lenders may offer large personal loans, but this doesn’t mean they’ll all approve every borrower for that amount. To qualify for a $35,000 personal loan, you’ll need a strong income and credit score, as well as a low debt-to-income ratio.
Once you’ve found lenders that offer $35,000 loans, your next job is to compare them. Make sure you compare the annual percentage rates (APRs), which represent the total cost of a financial product and incorporate interest rates and fees.
For personal loans, the primary fee you need to compare is the loan origination fee, which is a loan processing fee. One lender may have a higher interest rate but a lower or no loan origination fee, which can make it the cheapest option.
While we’re on the topic of fees, keep an eye out for predatory lenders. Here are characteristics to watch for:
- Charge high fees and interest over 36%—sometimes triple-digit APRs
- May require balloon payments
- Create a cycle of debt to pay off the previous loan with a new loan
For a $35,000 loan, we recommend taking a look at the five lenders below. Each lender has predictable payments and charges APRs under 36%.
| Lender | Loan amounts |
| Credible | $1,000 – $200,000 |
| LightStream | $5,000 – $100,000 |
| SoFi | $5,000 – $100,000 |
| Upgrade | $1,000 – $50,000 |
| Upstart | $1,000 – $75,000 |
Credible – Best marketplace
- Compare multiple lenders in one spot
- No hard credit check to compare offers
- No fee to use Credible service
Credible is a marketplace that shows borrowers prequalified rates from online lenders following one quick form.
This service benefits borrowers by allowing them to navigate prequalified offers to find the best terms. By providing access to a wide range of lenders and interest rates, Credible is a valuable tool for those considering multiple lenders.
LightStream – Best for excellent credit
- Offers competitive rates for individuals with excellent credit
- Maintains a zero-fee policy
- Rewards strong credit histories
- Longer repayment terms available
- Autopay discount may be available
LightStream caters to individuals with credit scores of 740 and higher, offering them some of the most competitive rates available. This lender distinguishes itself with a guarantee of no fees, including no origination, application, or prepayment penalties, making it an ideal choice for cost-conscious borrowers.
The expedited approval process is another highlight, ensuring that qualified applicants can access their funds without unnecessary delays. For those who have maintained excellent credit, LightStream provides a rewarding experience with advantageous loan terms and streamlined service.
Because LightStream doesn’t allow borrowers to see their rates without a hard credit check (called prequalification), we think this lender is best for those with excellent credit who are confident they’ll be approved.
SoFi – Best for good credit
- Terms and conditions apply. SOFI RESERVES THE RIGHT TO MODIFY OR DISCONTINUE PRODUCTS AND BENEFITS AT ANY TIME WITHOUT NOTICE. To qualify, a borrower must be a U.S. citizen or other eligible status, be residing in the U.S., and meet SoFi’s underwriting requirements. Not all borrowers receive the lowest rate. Lowest rates reserved for the most creditworthy borrowers. If approved, your actual rate will be within the range of rates at the time of application and will depend on a variety of factors, including term of loan, evaluation of your creditworthiness, income, and other factors. If SoFi is unable to offer you a loan but matches you for a loan with a participating bank, then your rate may be outside the range of rates listed above. Rates and Terms are subject to change at any time without notice. SoFi Personal Loans can be used for any lawful personal, family, or household purposes and may not be used for post-secondary education expenses. Minimum loan amount is $5,000. The average of SoFi Personal Loans funded in 2025 was around $32K. Based on loans funded from 1/1/2025-12/31/2025. Information current as of 10/02/26. SoFi Personal Loans originated by SoFi Bank, N.A. Member FDIC. NMLS #696891 (www.nmlsconsumeraccess.org). See SoFi.com/legal for state-specific license details. See SoFi.com/eligibility for details and state restrictions.
- Fixed rates from 6.99% APR to 35.49% APR. APR reflect the 0.25% autopay interest rate discount and a 0.25% member rate discount. SoFi Platform personal loans are made either by SoFi Bank, N.A. or , Cross River Bank, a New Jersey State Chartered Commercial Bank, operating from its Delaware branch, Member FDIC, Equal Housing Lender. SoFi may receive compensation if you take out a loan originated by Cross River Bank. These rate ranges are current as of 10/02/26 and are subject to change without notice. Not all rates and amounts available in all states. See SoFi Personal Loan eligibility details at https://www.sofi.com/eligibilitycriteria/#eligibility-personal. Not all applicants qualify for the lowest rate. Lowest rates reserved for the most creditworthy borrowers. Your actual rate will be within the range of rates listed above and will depend on a variety of factors, including evaluation of your credit worthiness, income, and other factors. Loan amounts range from $5,000– $100,000. The APR is the cost of credit as a yearly rate and reflects both your interest rate and an origination fee of 9.99% of your loan amount for Cross River Bank originated loans which will be deducted from any loan proceeds you receive and for SoFi Bank originated loans have an origination fee of 0%-7%, will be deducted from any loan proceeds you receive.
- Autopay Discount: The SoFi 0.25% autopay interest rate reduction requires you to make monthly payments using SoFi’s automatic monthly deduction from a savings or checking account. The discount will discontinue and be lost when you do not have autopay enabled. You’re not required to set up autopay to obtain this loan.
- Member Rate Discount: To be eligible for an additional 0.25% interest rate reduction on a Personal Loan, you must, within 31 days of loan funding, either (1) meet SoFi Plus eligibility criteria, (2) receive an Eligible Direct Deposit into a SoFi Checking or Savings account, or (3) receive at least $5,000 in Qualifying Deposits into a SoFi Checking or Savings account. You must continue to meet at least one of the above eligibility criteria every 31 days to maintain the discount. See the SoFi Plus terms for details on SoFi Plus subscription. For more details on Eligible Direct Deposit or Qualifying Deposits, please see https://www.sofi.com/legal/banking-rate-sheet. Once you become eligible during the initial period, the discount will be removed or reinstated depending on whether the criteria have been met. Each time your loan is re-amortized, your monthly payment amount will change based upon the interest rate that was in place. SoFi reserves the right to modify or terminate this offer at any time for unenrolled participants. You are not required to meet these criteria to be approved for a loan.
- No fees required
- Apply for a personal loan, check your balance and manage payments in the SoFi app
- Membership benefits include discounts on additional SoFi products and services, and invitations to exclusive events
SoFi is an excellent option for borrowers with credit scores of 670 and up thanks to its holistic approach to lending. Beyond offering favorable loan terms, SoFi sets itself apart by providing free financial advice, a service that adds significant value for individuals looking to manage their finances wisely.
The lender’s reliable customer support ensures that borrowers have a dependable resource for any inquiries or issues that arise. This combination of attractive loan options, valuable financial insights, and supportive customer care makes SoFi a standout choice for those who not only seek competitive financing but also wish to enhance their overall financial health.
Upgrade – Best for fair credit
- Customizable loan options
- Repayment terms from 24 to 84 months
- Borrow $1,000 to $50,000
Upgrade is tailored to borrowers with fair credit, providing accessible loan rates that reflect their creditworthiness. The lender’s transparent fee structure eliminates surprises, allowing borrowers to understand the costs associated with their loans.
The sophisticated mobile app enhances the borrowing experience by offering convenient access to loan management tools. Upgrade’s commitment to clarity, combined with its tech-forward approach, positions it as a leading option for individuals with fair credit seeking a straightforward and efficient loan process.
Upstart – Best for little to no credit
- Check your rate in 5 minutes without affecting your credit score
- Fully automated loan process
- Innovative eligibility criteria
- No prepayment fees
- No limitations on how you use your funds
- Repay your loan in 36 or 60 months
Upstart is terrific for individuals with a sparse credit history, offering a pathway to obtaining personal loans that might otherwise be out of reach. The platform’s use of artificial intelligence in loan processing allows for a more nuanced assessment of an applicant’s creditworthiness beyond traditional metrics. Its minimum credit score is 300—the lowest possible.
This innovative approach enables Upstart to offer flexible loan terms tailored to the unique circumstances of borrowers with limited credit experience. By embracing technology to expand access to credit, Upstart not only facilitates the loan application process but also helps borrowers embark on building or improving their credit profiles.
How to get a $35,000 personal loan
To qualify for a personal loan, you must meet the lender’s credit score requirements, which can vary depending on where you apply. You also need a stable source of income and a debt-to-income ratio (DTI) low enough to support additional debt. The lower your DTI, the better.
The steps to get a personal loan are:
- Check your credit report and credit score: Check your credit scores and credit reports. You have three credit reports—one each from TransUnion, Equifax, and Experian. You have a credit score from each credit bureau. Check your credit reports for errors. If you find any, begin the dispute process.
- Compare lenders: Comparing lenders used to take a fair amount of time, but online quotes make it easier than ever. Just keep your credit score in mind while rate shopping. The rate shopping window varies depending on the scoring model, but strive to keep your search for preapprovals to under 14 days. This will ensure every credit check counts as just one inquiry because credit bureaus and lenders understand the need for rate shopping.
- Gather supporting documents: Any lender you apply with may require supporting documents, which may include a government-issued ID, employment verification, bank statements, and proof of income.
- Apply: Complete the loan application online, and submit any required documentation. You can often apply for a personal loan in a short time, especially if you gathered all the necessary paperwork prior.
- Approval: Your application must go through the underwriting process to verify that you’re eligible for the full loan amount. The time it takes depends on the lender.
- Review and sign loan offer: Once you’re approved, your lender will provide documents you must review and sign. The primary document you’ll need to sign is the loan agreement, which outlines the interest rate, fees, and repayment schedule.
- Loan disbursement: Many personal loans are funded within a few business days, if not sooner. Some lenders may need one to two weeks. Most lenders deposit the loan amount into the borrower’s checking account.
- Monthly payment: Once you get the full loan amount, you’ll start making monthly payments until you repay the loan in full. To avoid late payments, consider signing up for automatic payments each month.
How to repay a $35,000 personal loan
A $35,000 personal loan requires fixed monthly payments until the loan matures. The amount you pay month to month on a $35,000 personal loan depends on your interest rate and loan term.
Overall, you’ll pay less money in interest for shorter loan terms than longer terms. If you want to pay less in interest, one strategy is to make extra payments. This results in less interest because you’ll reduce the principal with the extra payment.
Interest accrues based on the loan balance. When you make extra payments to reduce the loan balance, you’ll pay less money in interest over the life of the loan.
What are the payments on a $35,000 personal loan?
Various factors affect how much you’ll pay month to month for a $35,000 personal loan, including your chosen loan term and your interest rate. As you can see in the table below, the biggest factor isn’t your interest rate. Instead, it’s your loan term.
How aggressively you choose to pay off your personal loan makes the most impact on how much you’ll pay each month and overall in interest. If you’re concerned about interest rates, keep in mind that the amount you borrow is also one of the factors that affect your rate.
Your lender may offer different rates depending on the loan amount. For most borrowers, the larger the loan amount, the higher the interest rate.
Here’s what the payments could look like on a $35,000 loan with different rates and terms:
| Loan term + rate | Monthly payment | Total interest |
| 2 years at 12% | $1,648 | $4,542 |
| 3 years at 12% | $1,163 | $6,850 |
| 5 years at 12% | $779 | $11,714 |
| 7 years at 12% | $618 | $16,900 |
| 2 years at 15% | $1,698 | $5,729 |
| 3 years at 15% | $1,214 | $8,679 |
| 5 years at 15% | $833 | $14,959 |
| 7 years at 15% | $676 | $21,733 |
| 2 years at 19% | $1,765 | $7,344 |
| 3 years at 19% | $1,283 | $11,187 |
| 5 years at 19% | $908 | $19,476 |
| 7 years at 19% | $757 | $28,528 |
Pros and cons of a personal loan for $35,000
A personal loan for $35,000 has benefits and drawbacks you’ll want to consider.
Pros: What we like
- Use for a variety of expenses and obligations
- May not require collateral
- Fast disbursement
- Often lower interest rates than credit cards
- Fixed, predictable payments
Cons: Things to keep in mind
- May harm your credit score
- Higher rates than other loan products
- Monthly payments will leave less cash for other expenses
- May need to opt for a longer repayment period, which will increase the total cost of the loan
- May require collateral
Other ways to borrow $35,000
If you can’t qualify for a $35,000 personal loan, several alternatives may help.
For example, if you own your home, a home equity loan or line of credit may be a better option. Because the loan is secured with such a high-value asset, interest rates are often lower than personal loans.
Another option may be to get a personal loan with a cosigner or co-borrower who has a strong credit score. In either case, you’re both responsible for the loan payments. If you default on payments, it will lower both of your credit scores.
FAQ
What is the minimum credit score required to qualify for a $35,000 personal loan?
To qualify for a $35,000 personal loan, lenders often look for a credit score of 660 or higher. This minimum may vary depending on the lender’s criteria and whether it’s a secured or unsecured loan. Unsecured loans generally require a higher credit score.
Can I apply for a personal loan if I’m self-employed or have irregular income?
Yes, you can apply for a personal loan even if you’re self-employed or have an irregular income. Lenders may require proof of a consistent income over a specific period, which you can demonstrate through tax returns, bank statements, or other official financial documentation.
How long does it take to receive the funds once I’m approved for a personal loan?
The time it takes to get funds after approval varies by lender. Some lenders offer same-day or next-day availability; others may take several business days.
Are there any restrictions on how I can use a personal loan?
Typically, there are no specific restrictions on how you can use a personal loan. You can use it for debt consolidation, home improvement, medical bills, and more. We always recommend using personal loans responsibly.
What happens if I miss a payment on my personal loan?
If you miss a payment on your $35,000 personal loan, it may result in late fees, increased interest rates, or a negative impact on your credit score. Dealing with this situation by making the missed payment can limit any potential damage.
Can I pay off my personal loan early, and are there any penalties for doing so?
Most lenders allow you to pay off your $35,000 personal loan early. However, some may charge prepayment fees, so it’s important to understand the terms of your loan agreement.
How do lenders determine the interest rate for a $35,000 personal loan?
Lenders determine the interest rate for a $35,000 personal loan based on a number of factors, including your credit score, income level, repayment history, and the lender’s market rates at the time of the loan.
Recap of lenders offering $35,000 personal loans
| Lender | Loan amounts |
| Credible | $1,000 – $200,000 |
| LightStream | $5,000 – $100,000 |
| SoFi | $5,000 – $100,000 |
| Upgrade | $1,000 – $50,000 |
| Upstart | $1,000 – $75,000 |
About our contributors
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Written by Lauren WardLauren Ward is a personal finance writer who regularly covers topics like mortgages, real estate, tax relief, home equity, business loans, and investing.
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Edited by Kristen Barrett, MATKristen Barrett is a managing editor at LendEDU. She lives in Cincinnati, Ohio, with her wife and their pack of senior rescue dogs. She has edited and written personal finance content since 2015.
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Reviewed by Erin Kinkade, CFP®Erin Kinkade, CFP®, ChFC®, works as a financial planner at AAFMAA Wealth Management & Trust. Erin prepares comprehensive financial plans for military veterans and their families.