How to get a $35,000 personal loan

When it comes to qualifying for a large personal loan, income matters just as much as credit

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Securing a $35,000 personal loan can be a strategic financial move for various needs, from debt consolidation to home improvements. Understanding the requirements and options available is crucial to finding the best loan terms and rates.


Key insights

A stable income and good credit score are essential for qualifying for a $35,000 personal loan.

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Comparing offers from multiple lenders can help you find the best rates and terms.

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It’s simple to apply for a personal loan in today’s electronic age.

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Interest rates and loan terms impact the amount you pay over the life of your loan.

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Eligibility requirements for a $35,000 personal loan

You’ll have to prove a history of good financial decisions and a stable income to get a personal loan of $35,000.

Good credit

“You’ll need a credit score in the 700s to get the best rates, or even to qualify for a loan of this size,” Joe Camberato, CEO of National Business Capital, said. While it’s possible to get a loan with bad credit, it’s unlikely you’ll qualify for an amount as large as $35,000.

Low interest rates are always important when it comes to taking out a loan. But you’ll need excellent credit to even secure a personal loan of this size, let alone get a low interest rate on it, according to Camberato.

Stable income

“Lenders want to see that you can comfortably handle the payments over the term they give you,” Camberato said.

Consistent, steady income is best when it comes to applying for a large loan. Whether that income comes from full-time, part-time or self-employment usually won’t matter as long as you’re consistently bringing in more than enough income to cover the monthly payment on the loan.

“This gives lenders reassurance that you won’t find yourself in a situation where your income drops suddenly, and you struggle to make payments,” Camberato said. Another factor lenders consider is your debt-to-income ratio. “If too much of your income is already tied up in debt, it’s a red flag,” he added.

Find lenders for a $35,000 personal loan

If you’re a member of a local bank or credit union, that’s a great place to start if you’re looking for a large personal loan. Assuming your credit is good and you’ve established something of a relationship with the employees of the bank, chances are good that your loan request will be approved.

Compare lenders

When considering a loan from these or any other online bank, it’s important to browse reviews in order to get a sense of the establishment’s reputation.

More about BestEgg

BestEgg puts no restrictions on what you can use your personal loan for and lets borrowers leverage their home or vehicle equity to unlock higher loan amounts with better interest rates. As of publishing, annual percentage rates (APR) on a BestEgg loan range from 7.99 to 35.99%, but the company also charges an origination fee that could be as high as 8.49%.

More about Achieve

Achieve is a popular online lending platform that offers personal and home equity loans. The site offers personal loans from $5,000 to more than $50,000 and home equity loans between $15,000 and $150,000.

More about Upstart

Upstart specializes in personal loans, car loans and even home equity lines of credit. The application process is incredibly simple, with approvals typically received in just a few minutes. As of publishing, interest rates for loans on Upstart range between 6.6% and 35.99%, with the lower rates reserved for the most qualified applicants.

More about LightStream

Lightstream is an online lending service provided by Truist Bank. The service caters to those with excellent credit. It also encourages customers to sign up for its autopay feature, which takes your monthly payment right out of your account each month. Those who sign up for autopay are rewarded with a 0.5% reduction in interest, with regular rates ranging between 6.99% and 25.79% (as of publishing).

Pro tip

In general, banks and credit unions might even be able to offer better interest rates and terms for your loan. If that’s not the case, there are lots of online lending platforms to consider. We’ve outlined a few of the more popular options below.

» COMPARE: Best personal loan lenders

Steps to apply for a $35,000 personal loan

These days, getting a personal loan — even a big one — is a relatively simple process. You can often apply online regardless of whether you obtain your loan through your local bank or credit union or an online lending platform.

  1. Start the application process. When you visit the website of the institution you’d like to apply with, you’ll likely see a button that starts the application process. You’ll fill in basic information, such as your name and address, and then you’ll answer questions about your household income and allow the bank to run a credit check.
  2. Provide documentation. Once that’s complete, your loan might be accepted just based on the information you entered. You might need to submit supporting documentation to be approved. Often, according to Camberato, this is in the form of personal identification, such as a driver’s license, and proof of income, which may include recent pay stubs, proof of address and employment information.
  3. Read the fine print. It can be exciting to receive that approval message on your personal loan. But before you sign on the dotted line, be sure you have a full understanding of any fees associated with the loan. Things like interest rates and origination fees can add up, potentially making your monthly payment beyond your reach.
Lenders want to see that you can comfortably handle the payments over the term they give you.”
— Joe Camberato, National Business Capital

Understanding loan terms and repayment options

Each lender might vary a bit, but standard repayment periods are 36, 48, 60, 72 and 84 months. Once your loan is originated, you’ll be charged a standard amount each month that takes into account the amount of your loan, the interest rate of your loan and the repayment period. Shorter loan terms mean larger monthly payments but lower interest rates, while longer loan periods let you pay less each month.

Keep in mind that interest rates have a huge impact not only on your monthly payment but on the total amount you pay over time. For example, a $35,000 personal loan paid over 36 months at 8% interest requires a monthly payment of $1,097. That same loan at a 6% interest rate costs you $1,064. At 15%, you’ll pay $1,213.

Need cash now? Use our Personal Loans Tool to lock in great offers in minutes!

FAQs about $35,000 personal loans

How hard is it to get a $35,000 personal loan?

Lenders will be far more discerning in their approval process for a $35,000 personal loan than they would for a much smaller amount. You’ll need both a solid credit history with a high credit score and proof of stable and continuing employment.

What credit score is needed for a $35,000 loan?

Those looking for a personal loan in the amount of $35,000 or higher should have an excellent credit rating in order to get the best interest rate (which is crucial for a large loan). A credit score of at least 700 is strongly recommended.

What's the monthly payment on a $35,000 loan?

The monthly payment will depend on factors like repayment period and interest rate. Consider, for example, that the monthly payment over 84 months at a 5% interest rate is only $564, while the payment for a 36-month repayment period at 15% interest is more than double that amount, at $1,213.


Article Sources

ConsumerAffairs writers primarily rely on government data, industry experts and original research from other reputable publications to inform their work. Specific sources for this article include:

  1. NASDAQ, "How To Get A $35,000 Personal Loan." Accessed June 12, 2025.
  2. Wells Fargo, "Personal Loan Rates." Accessed June 12, 2025.
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