Looking for a $35,000 loan? You’re in the right place. This comprehensive guide will help you navigate the world of personal loans, comparing top lenders and providing crucial information to help you make an informed decision.
Let’s dive into our top loan options for 2025:
Remember, the best loan for you depends on your unique financial situation and goals. We encourage you to compare multiple options before making a decision.
To help you in your search, we’ve compiled a comprehensive loan comparison table:
| Company | Overall Rating | Interest | Loan Term | Loan amount | Accepts bad credit: | |
|---|---|---|---|---|---|---|
recommended
| 5.99% – 35.99% | 2 Months – 6 Years | $500 – $35,000 | Yes | Explore more | |
| 7.80% – 35.99% | 3 Years – 5 Years | $1,000 – $50,000 | Yes | Explore more | |
recommended
| 9.99% – 35.99% | 2 Years – 7 Years | $1,000 – $50,000 | Yes | Explore more | |
recommended
| 5.99% – 35.99% | 2 Months – 6 Years | $500 – $35,000 | Yes | Explore more |
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| Company | Overall Rating | Interest | Loan Term | Loan amount | Accepts bad credit: | Get Started |
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recommended
| 5.99% – 35.99% | 2 Months – 6 Years | $500 – $35,000 | Yes | Explore more | |
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| 7.80% – 35.99% | 3 Years – 5 Years | $1,000 – $50,000 | Yes | Explore more | |
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recommended
| 9.99% – 35.99% | 2 Years – 7 Years | $1,000 – $50,000 | Yes | Explore more | |
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recommended
| 5.99% – 35.99% | 2 Months – 6 Years | $500 – $35,000 | Yes | Explore more |
Ready to explore your options? Use our LoanFinder™ tool to compare personalized loan offers from multiple lenders in minutes.
In-Depth Analysis of $35,000 Loan Top Options
Let’s take a closer look at our top three lenders for $35,000 loans: 5KFunds, Upstart, and Upgrade. Each offers unique features that cater to different borrower needs.
5KFunds: Best for Competitive Rates and Flexible Terms
Chosen 81,040 times- Check Rates without Credit Impact
- No Minimum Credit Score
- Large Network of Lenders
5KFunds is a loan marketplace that connects borrowers with multiple lenders, offering a range of loan options to suit various financial needs and credit profiles.
Low starting APR of 5.99%: Potential for significant savings on interest for qualified borrowers
Flexible loan terms: Options ranging from 12 to 60 months to fit your budget
Quick online application: Easy-to-use platform for swift loan requests
No prepayment penalties: Freedom to pay off your loan early without extra costs
Multiple lender comparison: Increases your chances of finding the best loan terms
Soft credit pull: Initial inquiry won’t affect your credit score
Pros:
Origination fee of 1-3%: This upfront cost can add to the overall loan expense
Not a direct lender: You’ll be working with partner lenders, which may lead to additional communication
Potential for high APRs: Rates can go up to 35.99% for borrowers with lower credit scores
Cons:
How Much Would a $35,000 Loan With 5KFunds Cost?
Here’s an example of potential costs for a $35,000 loan from 5KFunds, assuming the minimum APR of 5.99% and a 1% origination fee:
| 5KFunds: $35,000 Loan | Origination Fee (1%) | Monthly Payment (APR 5.99%) | Total Payment |
|---|---|---|---|
| 12 months | $350 | $3,031.67 | $36,730.04 |
| 24 months | $350 | $1,553.33 | $37,629.92 |
| 36 months | $350 | $1,062.78 | $38,610.08 |
| 48 months | $350 | $817.08 | $39,569.84 |
Remember, taking out a loan is a significant financial decision that comes with risks. This table is just an example, and your actual loan offer may vary based on your financial situation and creditworthiness.
Upstart: Ideal for Borrowers with Limited Credit History
Upstart is an online lender that uses artificial intelligence and machine learning to assess borrower creditworthiness, considering factors beyond traditional credit scores.
Alternative credit assessment: Considers education and job history, beneficial for those with limited credit
Fast funding: Many borrowers receive funds within one business day of approval
No prepayment penalties: Save on interest by paying off your loan early
Flexible loan amounts: Offers loans from $1,000 to $50,000 to suit various needs
Soft credit pull for initial rates: Check your rate without impacting your credit score
Educational resources: Provides financial education tools to help borrowers manage their loans
Pros:
Higher minimum APR of 7.80%: May not offer the lowest rates for excellent credit borrowers
Origination fee of 1-5%: This upfront cost can increase the overall loan expense
Not available in all states: Residents of certain states may not be eligible for Upstart loans
Cons:
How Much Would a $35,000 Loan With Upstart Cost?
Let’s look at a potential cost breakdown for a $35,000 loan from Upstart, assuming the minimum APR of 7.80% and a 3% origination fee:
| Upstart: $35,000 Loan | Origination Fee (3%) | Monthly Payment (APR 7.80%) | Total Payment |
|---|---|---|---|
| 12 months | $1,050 | $3,082.50 | $38,040.00 |
| 24 months | $1,050 | $1,582.92 | $39,040.08 |
| 36 months | $1,050 | $1,090.83 | $40,319.88 |
| 48 months | $1,050 | $844.17 | $41,570.16 |
It’s important to take note that this table only provides an estimate. Your loan terms may differ based on your financial profile and Upstart’s assessment.
Upgrade: Great for Fast Funding and Credit-Building Tools
Chosen 2,527 times- High Trustpilot Rating
- No prepayment fees
- Fast Funding
- Helpful Support Team
Upgrade is an online lender offering personal loans, credit monitoring, and educational tools to help borrowers improve their financial health.
Fast funding: Many borrowers receive funds within one day of approval
Credit health tools: Free credit monitoring and educational resources to help improve your financial situation
Joint application option: Allows co-borrowers, which can help secure better rates
Flexible use of funds: Loans can be used for various purposes, including debt consolidation and home improvements
Direct payment to creditors: Option for direct payment to creditors for debt consolidation loans
No prepayment penalties: Pay off your loan early without additional fees
Pros:
Higher minimum APR of 9.99%: May not offer the most competitive rates for excellent credit borrowers
Origination fee of 1.85-9.99%: This fee can significantly increase the cost of the loan
Limited loan terms: Offers only 24, 36, 48, or 60-month terms, which may not suit all borrowers
Cons:
How Much Would a $35,000 Loan With Upgrade Cost?
Here’s an example of potential costs for a $35,000 loan from Upgrade, assuming the minimum APR of 9.99% and a 5% origination fee:
| Upgrade: $35,000 Loan | Origination Fee (5%) | Monthly Payment (APR 9.99%) | Total Payment |
|---|---|---|---|
| 12 months | $1,750 | $3,141.67 | $39,450.04 |
| 24 months | $1,750 | $1,618.33 | $40,589.92 |
| 36 months | $1,750 | $1,124.17 | $42,220.12 |
| 48 months | $1,750 | $876.25 | $43,860.00 |
Remember that taking out a loan is a serious financial commitment. This table provides an estimate, and your actual loan terms may vary based on your creditworthiness and other factors.
How To Get a $35,000 Loan
In this part, we’ll explore the typical requirements for a $35,000 loan, what to consider before applying, and the application process itself.
$35,000 Loan Typical Requirements
- Credit score: Normally, a score of 660 or higher is preferred, but several lenders work with lower scores
- Income: Stable employment and sufficient income to cover loan payments
- Debt-to-income ratio: Generally, lenders prefer a DTI ratio below 40%
- Collateral: For secured loans, you may need to provide an asset as collateral
- Purpose of the loan: Some lenders may have restrictions on how you can use the funds
- Age and citizenship: You must be at least 18 and a U.S. citizen or permanent resident
What To Consider Before Applying for a $35,000 Loan
Before you apply, take these factors into account:
- Interest rates: Compare APRs from multiple lenders to find the best deal
- Loan terms: Choose a repayment period that fits your budget
- Fees: Consider origination fees, late payment fees, and prepayment penalties
- Total cost of the loan: Calculate the total amount you’ll repay over the life of the loan
- Impact on credit score: Multiple hard inquiries can temporarily lower your score
- Alternatives: Consider if there are other options to meet your financial needs
How To Apply for a $35,000 Loan
Check your credit score
Review your credit report and address any issues as credit score plays a crucial role in loan approval and interest rates.
Tip: Dispute any errors you find and consider paying down existing debts to improve your score.
Compare lenders
Use our LoanFinder™ tool to compare multiple loan offers. Different lenders may offer varying terms and rates for the same loan amount. Look beyond interest rates; consider APR, loan terms, and lender reputation.
For Quick Approval Consider
Chosen 81,040 times- Check Rates without Credit Impact
- No Minimum Credit Score
- Large Network of Lenders
Gather necessary documents
Prepare pay stubs, tax returns, and bank statements. Lenders typically require proof of income and financial stability. Having all documents ready can speed up the application process and improve your chances of approval.
Submit your application
Complete the online application form with accurate information. Most lenders now offer a streamlined online application process. Double-check all entries to avoid delays, and be prepared to explain the purpose of your loan.
Review and accept offer
Carefully read the terms and conditions before accepting. Understanding all aspects of the loan agreement is crucial for your financial well-being. Pay close attention to fees, repayment schedules, and any collateral requirements.
Once approved, funds are typically deposited within 1-5 business days. The exact timing can vary depending on the lender and your bank.
Tip: Set up automatic payments to ensure you never miss a due date.
Consider this before applying
Before submitting your application, ensure you have a solid plan for repaying the loan. Consider setting up a meeting with a financial advisor if you’re unsure about the impact of the loan on your current financial standing.
How To Get a $35,000 Loan With Bad Credit
If you have bad credit, consider these strategies:
- Apply with a co-signer who has good credit
- Offer collateral for a secured loan
- Improve your credit score before applying
- Consider alternative lenders that specialize in bad credit loans
- Be prepared to pay higher interest rates
Alternatives to a $35,000 Personal Loan
Consider these alternatives before committing to a personal loan:
- Home equity loan or HELOC (for homeowners)
- 401(k) loan (if available through your employer)
- Credit card balance transfer (for debt consolidation)
- Peer-to-peer lending platforms
- Borrowing from family or friends
- Saving up and delaying your purchase or project
What To Do Now
Finding the right $35,000 loan requires careful consideration and comparison of multiple options. Use our LoanFinder™ tool to explore personalized loan offers from various lenders. Remember, this guide is for informational purposes only, and it’s always wise to consult a financial advisor before taking on significant debt.
FAQs
What credit score do I need for a $35,000 loan?
While requirements vary by lender, a credit score of 660 or higher typically offers the best rates. However, some lenders may approve loans for scores as low as 580.
How long does it take to get approved for a $35,000 loan?
Many online lenders offer same-day approval decisions. However, funding times can range from one to five business days, depending on the lender and your bank.
Can I use a $35,000 loan for any purpose?
Most personal loans can be used for various purposes, including debt consolidation, home improvements, or major purchases. However, some lenders may have restrictions, so it’s best to check with your chosen lender.
What happens if I can’t repay my $35,000 loan?
Failing to repay your loan can result in late fees, damage to your credit score, and potential legal action. If you’re struggling to make payments, contact your lender immediately to discuss potential options.
Are there any alternatives to traditional $35,000 loans?
Yes, alternatives include home equity loans, 401(k) loans, peer-to-peer lending, and borrowing from family or friends. Each option has its own pros and cons, so carefully consider your choices.
How does a $35,000 loan affect my credit score?
Initially, applying for a loan may cause a small, temporary dip in your credit score due to the hard inquiry. However, making timely payments on your loan can positively impact your credit score over time.
