$40,000 Loans

Get personalized rates in 60 seconds for a $40,000 personal loan with no impact to your credit score
How much would you like to finance?

See $40,000 personal loan offers with no impact to your credit score.

$4,000 Personal Loans with Acorn Finance

Check Offers With No Impact To Your Credit Score

Get Financed Quickly

Easy Monthly Payments

How We're Different

Get Offers in Seconds

Get pre-qualified for multiple loan offers with an easy online form.

Won't Impact Your Credit

Receive pre-qualified offers with no impact to your credit scores.

Competitive Payment Options

Loans up to $100,000; Terms up to 12 years; APRs as low as 3.99%.

Receive Funds Quickly

In some cases, receive funds in as little as one business day.

Acorn Finance Icon

How Can I Get a $40k Personal Loan Fast?

Using an online lender is one of the simplest and quickest ways to get a $40,000 personal loan. In most cases, online lenders offer the most flexible approval criteria and approval and funding times. If you have excellent credit and appreciate fact-to-face interaction you may want to use a bank or credit union. However, most online lenders offer extremely competitive interest rates and outstanding customer support. Choosing between a bank, credit union, or online lender is really all about personal preference and your credit score rating.

How To Get A $40,000 Personal Loan

Whether you have good credit or bad credit, you may qualify for a $40,000 personal loan. Personal loans can help finance purchases, home improvement projects, or consolidate debt. However, most lenders allow you to spend your personal loan on just about anything. We encourage you to take advantage of digital offerings that can make securing a $40,000 personal loan quick and easy. Keep reading to learn important information and tips for getting a $40k personal loan.

How Can I Get a $40,000 Personal Loan?

The best way to get a $40,000 personal loan is through Acorn Finance. Acorn Finance partners with dozens of reliable online lenders that can help all credit types. You can submit one application through Acorn Finance and receive multiple personalized pre-approval offers within seconds. Your credit will not be affected by the initial application. Acorn Finance makes it easy for you to compare offers while removing any risk associated with using online lenders. Acorn Finance only partners with trustworthy and credible online lenders.

How Does a $40 K Personal Loan Work?

If you use an unsecured personal loan you will not be required to provide collateral or an asset. If you use a secured personal loan, you will be required to provide collateral or an asset. Unsecured personal loans are more common and less risky. Once approved for an unsecured $40,000 personal loan you should receive funds as a lump sum. You will be required to repay the loan amount over the agreed upon term and interest should accrue from the start. As you pay the loan balance down, the accrued interest should decrease as well. You can use the funds for just about anything you would like.

What Would Be the Monthly Payment for a $40,000 Loan?

The monthly payment for a $40,000 personal loan can vary depending on your approved rate and term. Borrowers with excellent credit can expect a monthly payment as low as $370 for a $40,000 personal loan at 4.99% with a 12 year term. If you have decent credit, it may be more realistic to estimate a monthly payment of around $500 using a 12 year term. Once you know your approved rate and term you can use online personal loan calculators to estimate your monthly payment.

How Long Will It Take to Pay off a $40,000 Personal Loan?

Most lenders offer personal loan terms for up to 12 years. However, in most cases, you can pay off your personal loan as quickly as you would like. Most personal loans do not have an early payoff penalty. This means if you pay the loan off faster you can save money on interest and not be charged any penalties. Paying an extra 10% to 20% per month can help you save hundreds of dollars.

What Credit Score Do I Need for a $40,000 Personal Loan?

Most lenders require a minimum credit score of 580 or higher to qualify for a $40,000 personal loan. If you have credit challenges or a lower score than 580, you should look into using a cosigner or secured personal loan. If you decide to use a cosigner on your application, it should ideally be someone with good credit or better credit than you have. Cosigners can be used for secured or unsecured personal loans. Secured personal loans require collateral or an asset making them less risky for the lender but more risky for the borrower.

Can I Get a $40,000 Personal Loan With Bad Credit?

All credit types can qualify for a $40,000 personal loan. However, if you have bad credit you should reference the section above to learn more about how to increase your chances of approval. Taking a smaller personal loan and repaying it on time can help improve your credit rating.

Does a $40k Personal Loan Hurt Your Credit?

Rarely do $40,000 personal loans hurt your credit. If you have a lot of debt, taking on more debt of any kind can lower your credit score. In some cases, a $40,000 personal loan can actually improve your credit score. Before taking a $40k personal loan you should evaluate your credit and debt-to-income ratio to decide if it is more likely to hurt or help your credit.

What Are the Pros and Cons of a $40,000 Personal Loan?

Let’s take a look at some pros and cons of a $40,000 personal loan…

Pros:
Competitive interest rates and flexible terms
Use the money for just about anything
No collateral required
Fixed monthly payments

Cons:
Taking on debt
Origination fees
Interest fees may be higher than comparable options

Where Can I Get a $40,000 Personal Loan?

We recommend using an online lender for a $40,000 personal loan. Online lenders offer competitive rates, fast funding, and can be easier to qualify for. Acorn Finance helps simplify the online personal loan shopping process. Acorn Finance also helps keep your information safe and eliminates the risk of using an online lender. Most banks and credit unions also offer personal loans. However, their approval process may require more leg work and time.

Conclusion: Is a $40k Personal Loan for Me?

Now that you have read and hopefully absorbed this valuable information regarding $40k personal loans, you should know if it’s for you or not. Most likely it is for you. Whether you have good credit or bad credit, personal loans can be a good option. In most cases, they offer lower interest rates and longer terms than other options. If you are considering a $40,000 personal loan you should visit Acorn Finance. Their services cost you $0 and can save you tons of time while helping you get the best interest rate available.

Instantly pre-qualify for a $40k personal loan… apply online today!

How Do I Apply for a $40,000 Personal Loan?

Three steps to apply for a $40,000 personal loan at Acorn Finance:

#1. Complete and submit a short loan application online

#2. Receive multiple pre-qualified offers

#3. Get connected with lenders to obtain your pre-qualified loan

$40,000 Personal Loan Calculator

 

Are You A Contractor? Stop Thinking & Start Doing with Acorn Finance.

Offer customers the ability to finance their dreams with zero dealer fees.

“The process couldn’t have been any easier. I filled out a short form that took me less than 2 minutes and within seconds I got multiple offers from lenders.”

 

– Mike T. (TN)

“It was important to me that I could review my offers without any impact to my credit score, before deciding on the best loan option.”

 

– Carol R (FL)

“I like the easy online and 100% paperless experience of Acorn Finance. I received my money two days after completing my application.”

 

– Bob S (WI)

Consumer Financial Partners