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$60K Loans

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$60,000 Loans

How Can I Get a $60,000 Personal Loan?

You can secure a $60,000 personal loan using an online lender, bank, or credit union. Online lenders can provide an easier application process, faster funding, and competitive rates.

In addition, it may be easier to qualify for a personal loan with an online lender. There can be some level of risk involved with just about anything we do online.

To eliminate the risk of using an online lender, you should apply for a $60,000 personal loan through Acorn Finance.

Acorn Finance only partners with reliable and trustworthy lenders. 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.

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How Does a $60K Personal Loan Work?

There are two types of personal loans, secure and unsecured. Unsecured personal loans do not require collateral or an asset. However, secured personal loans do. Whether you use an unsecured or secured personal loan, you should receive the funds in a lump sum after being approved. Most lenders require monthly repayment for a $60,000 personal loan. 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 Is the Monthly Payment on a $60,000 Loan?

In order to calculate a monthly payment for a $60,000 personal loan, you need to know your approved rate and term. Borrowers with excellent credit can expect a monthly payment as low as $555 for a $60,000 personal loan at 6.99% with a 12-year term. If you have decent credit, it may be more realistic to estimate a monthly payment around $720 using a 12-year term.

How Long Will It Take to Pay off a $60,000 Personal Loan?

Most $60,000 personal loans do not have an early pay off penalty. This means you can pay the loan off during the full term or you can pay it off early without being charged any penalties. Paying your loan off early can help you save hundreds or maybe even thousands in interest. If possible, you should try to pay at least 10% to 20% more than the minimum payment each month. Most lenders offer terms up to 12 years for $60,000 personal loans.

How Do I Qualify for a $60K Personal Loan?

To find out if you qualify for a personal loan, you first need to apply. Three steps to apply for a $60,000 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

How Can I Get a $60,000 Personal Loan Fast?

If you are looking for a fast and easy way to get a $60,000 personal loan, you should use an online lender. Online lenders can offer some of the most flexible approval criteria and funding times. In addition, you can complete the process from the comfort of your own home. Acorn Finance offers a secure way to compare personalized offers from multiple online lenders. You can save tons of time and headaches using Acorn Finance to find the best $60,000 personal loan offer.

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What can I do with a $60,000 personal loan?

A $60,000 personal loan has a number of uses, including (but not limited to):
Home improvement Buying a car Wedding costs
Debt consolidation Medical bills Startup business costs

Still have questions?

What Credit Score Do I Need for a $60,000 Personal Loan?


In order to qualify for a $60,000 personal loan, you should have a credit score of 680 or higher. However, if you have a credit score below 700, you should add a cosigner to your application or look into a secured personal loan to increase your chance of approval.

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.

Can I Get a $60,000 Personal Loan With Bad Credit?


You may qualify for a $60,000 personal loan with bad credit. 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 $60K Personal Loan Hurt Your Credit?


It's more likely that a $60,000 personal loan will improve your credit than hurt your credit. Now, if you already have a lot of debt you may want to think about taking a $60,000 personal loan. Taking on more debt may affect your credit score and debt-t0-income ratio. However, if you have a normal amount of debt and a good debt-to-income ratio, a $60,000 personal loan may improve your credit. Before taking a $60K 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.

How to Choose a Lender for a $60,000 Personal Loan?


Acorn Finance can help you choose the best lender for a $60,000 personal loan. Acorn Finance only partners with credible lenders that you can trust. In addition, you will have the opportunity to compare offers from multiple lenders. This means you can confidently choose the best offer available.

How Do I Apply for a $60,000 Personal Loan?


If you choose to use an online lender for a personal loan you can apply through Acorn Finance. Once you have qualified and selected a lender, you can submit any additional documents they may need. If you want to use a bank or credit union you may be able to apply online or in-person.

Can you get a $60,000 personal loan with bad credit?


Sometimes when it rains, it pours. You may find yourself in a situation where you have to borrow a large amount of money. It could be that you had multiple expenses come up at once like home repairs, a new vehicle, and a wedding. Maybe it was just one issue that has proven to be far more expensive than you had thought-like a renovation that turned into a disaster. Regardless of the reason, you need a $60,000 personal loan. This is a big loan and you might be wondering if you can qualify for such a large amount. Your chances of qualifying will be far better if you have a good credit score, a low debt to income ratio, and stable employment with enough income to service the debt. You may not qualify with bad credit.

So, how can you tell if your credit rating is good, fair, or bad? The way to find out is by checking your credit score. There are one of two credit scores that lenders use. The most common, the FICO, is used in 90% of credit decisions. The less common score is the VantageScore. Your credit score is determined by several factors but one thing that is common to both FICO and VantageScore is that they use the information from the three credit reporting agencies-Equifax, Transunion, and Experian. Your credit score takes into account how much credit you have, how long the accounts have been open, how many new credit accounts you have, if you have made your payments on time, the type of credit you have (credit cards, loans, mortgages, lines of credit), and if there have been any recent inquiries for new credit.

The numbers are categorized so you will know what your credit rating means when you see the number. A credit score of 300-579 (FICO) is considered poor or bad. A credit score of 580-669 (FICO) is considered fair. The ranges then go from good to exceptional. Generally, the more you want to borrow, the higher your credit score will need to be.

Getting a $60,000 personal loan if you have bad credit will be difficult, especially if you are using an unsecured loan. For starters, many lenders don't even offer unsecured loans for that amount. Some will offer unsecured loans of up to $100,000 but it is more typical to find a maximum amount of 35K-50K. Secondly, most loans need to be paid off within 5-7 years although some lenders will extend an amortization to 12 years.

You can check what your payments would be by searching online for a $60,000 personal loan calculator. Having high payments will significantly impact your debt-to-income ratio. If you already have other credit like a mortgage and car loan, you may not have the room in your income to qualify for a 60K personal loan. Finally, a lot of lenders find that lending that amount of money increases their risk because the repayments on a $60,000 personal loan are so high for the borrower. For example, a $60,000 personal loan with a rate of 9.95%, amortized over 7 years will have a payment of about $995.52 per month. That can be a big bite out of your budget. From the lender's perspective, the rewards of lending that amount of unsecured cash do not outweigh the risks.

To simplify the message, qualifying for a $60,000 unsecured personal loan will be difficult if you have bad credit.

How do you get a $60,000 personal loan with bad credit?


Your situation might be urgent and you really need to borrow $60,000. So, how do you do that? Well, the first thing to do is check your credit score. If it's below 580, you will not find getting the credit you need to be very easy. The second thing to do is to get the documents the lender will likely ask for. They will probably want proof of your identity like a driver's license, proof of your address in the form of a utility bill, lease agreement or mortgage statement, proof of income which may be pay stubs or tax returns, and possibly a letter of employment from your employer that they can verify. You may also need to provide proof of an asset or assets that the lender can take as security. And, they will want to know what you want the money for.

Next, you will need to find a lender with a minimum credit score requirement that you can meet. However, just because you can meet the credit score requirement does not mean you will qualify. If you can't get an unsecured loan, you can look at securing the loan with an asset such as an investment or vehicle. You might be able to use the equity in your house to do a cash-out refinance or get a home equity line of credit. Or, it's possible you can add a cosigner to the loan who has good credit and income to support the debt.

If you don't repay the loan though, you could lose your security or the cosigner will have to make the payments which could affect your relationship negatively.

What is the minimum credit score for a $60,000 personal loan?


If you want a $60,000 unsecured personal loan, the usual minimum credit score required is usually 640. However, lenders may have different credit score requirements so you will want to check with the lender of your choice before applying. At the moment, it will be very difficult if not impossible to find a major lender that will fund a $60,000 unsecured personal loan to borrowers with bad credit. You may stand a better chance of qualifying if you have security that the lender can take or you have someone willing to cosign the loan for you.

What is considered bad credit when looking for a $60,000 personal loan?


Some lenders will process unsecured personal loans for more than $50,000. Most lenders have a maximum of 35K-50K. Of those that do fund $60,000 personal loans, they usually want a borrower to have a minimum credit rating of 640. While a bad credit rating is normally 300-579, the criteria tighten up as you borrow more. So while 640 would normally be considered an average fair score, to borrow $60,000, it is considered the minimum. Based on this, we can say that if you want to borrow $60,000, a credit score below 640 would be considered poor.

Where can I get a $60,000 personal loan with bad credit?


Getting a $60,000 personal loan can be challenging under the best circumstances. It is a very large loan and the payments will be big too. It shouldn't be impossible though, and there are some avenues you can consider. A quick way to check offers without impacting your credit score is Acorn Finance. At Acorn Finance you can check personal loan offers from top national lenders.

Other avenues you can consider are applying at a bank or credit union if you are a member. Credit decisions are often based on more than your credit score, although your credit score will still matter. If you have a good relationship with your financial institution you may have a better chance of getting a loan. If you own your home and have equity in it, you can see if you can do a cash-out refinance or get a home equity line of credit. Another option is to see if you have a family member who is willing to do a family loan for you. Using your home or another asset as security increases your risk since you will lose the asset if you don't make your payments. Family loans can be risky too since you can damage your relationship if you don't repay the loan.

Conclusion: Is a $60K Personal Loan for Me?


Now that you have all the information you need about a $60,000 personal loan, it's time to decide if it's right for you. Whether you have good credit or bad credit, a personal loan can be a smart way to borrow money. Compared to other options, personal loans typically have longer repayment terms and lower interest rates. If you are considering a $60,000 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 $60K personal loan... apply online today!

What are the best $60,000 loans? 

$60,000 is a larger sum of money to borrow. While some lenders can offer personal loans up to $100,000, you may want to explore various loan options. Shopping loan offers and loan types can help you determine what’s best for your needs and situation. 


Personal loans are unsecured, therefore, they are not backed by collateral. The appeal of not providing collateral can attract borrowers, but the reduced risk can come at a cost. Some borrowers in pursuit of a $60,000 loan may prefer a secured loan, as they may come with longer repayment periods and lower rates. 


Here are some of the best types of loans for $60,000:


  • Home equity loan: Home equity loans are secured loans, typically backed by the equity in one’s home. Most lenders require borrowers to have at least 20% equity in their home to qualify. The process of obtaining a home equity loan can be more complicated and longer than an unsecured loan. During the underwriting process the lender will likely need the collateral appraised. Additionally, there are more legalities when backing a loan with collateral. Similar to a personal loan, home equity loans are generally funded as a lump sum. Rates can be fixed or variable. To obtain a home equity loan you can shop online, but some prefer to visit their local bank or credit union. 
  • Home equity line of credit: A home equity line of credit is a revolving line of credit secured by the equity in your home. Business owners or entrepreneurs often use these types of loans to fund business ventures. Additionally, they can be used to fund expenses or milestones in life. From education for you or your family to weddings or family reunion vacations, life can get expensive at times. With access to a revolving line of credit, you can access the cash you need, when you need it. Borrower’s can draw up to the credit limit and only need to repay what they borrow. 
  • Personal loan: The biggest upside to a personal loan is it usually does not require collateral. Compared to secured loans, personal loans can be funded faster. Personal loans are usually based on creditworthiness. To qualify for large personal loans, you’ll likely need a good credit score and solid income. The lender needs to be confident enough about the likelihood that you’ll repay the loan on-time. Afterall, they don’t have collateral to seize if you don’t. 

How do you compare $60k personal loans?

First, you’ll need to decide what type of loan you want to pursue. If you choose to pursue a personal loan you can visit or contact local banks or credit unions to receive pre qualified offers. For a more convenient option, visit Acorn Finance to check rates from our network of top national lenders. 

What are $60k loans?

A $60k loan is a loan in the amount of $60,000. The “k’ stands for thousand. Therefore, there’s no difference between a $60k and $60,000 loan. 

How do $60k personal loans work?

Personal loans are installment loans. Typically, they are funded as a lump sum with a predetermined repayment period. Payments are usually fixed, meaning they will not fluctuate. Personal loans have few spending restrictions which gives borrowers flexibility. In a nutshell, here are 5 steps that outline how a personal loan works. 


  1. Prequalification
  2. Offer acceptance
  3. Approval
  4. Funding
  5. Repayment

When are $60,000 loans worth it?

$60,000 loans can come in a variety of loan types. The type of $60,000 loan that’s right for you depends on your needs, qualification, and what you’re comfortable with. Before determining what type of loan to pursue, you should know what you need the loan for. If the loan is worth it largely depends on the purpose of the loan in addition to your financial situation and your ability to repay it. 


Allocating your funds in a positive way can help justify the loan. How you define positive can vary, but here are some common uses of a personal loan:


  1. Home improvements: Home improvements can increase your home’s value and your quality of life. While some home improvements may be optional, others may catch you by surprise. Whether you have time to plan or not, you may need financing to make home improvements. For your personal home, vacation home, or rental property, you can use a personal loan to fund improvements. For emergency purposes, personal loans can be an ideal option since they can offer fast funding times. At Acorn Finance, our network of lending partners specialize in home improvement loans. With access to offers up to $100,000, depending on credit score, you can check rates in seconds. Checking rates at Acorn Finance does not impact credit score. Home improvements can include remodeling a bathroom, converting a basement, HVAC repairs, new appliances, and so forth. 
  2. Debt consolidation: As we try to keep up with life, debt can pile up. At some point you may feel buried. As you fight for a light at the end of the tunnel, debt consolidation may be an avenue to help you pay down debt faster. Personal loans can be used for debt consolidation and are often referred to as debt consolidation loans. Debt consolidation loans allow consumers to roll open credit lines or debts into a new loan. Some lenders can offer direct payment to creditors, meaning the lender will pay off the existing debt directly to the lender. The borrower will then make payments to the new lender. The goal of debt consolidation is to help consumers save money and find the ability to pay down loans. Credit card debt can feel like a never-ending cycle. Personal loans on the other hand have a fixed monthly payment and predetermined repayment period, so you’ll know exactly what to expect.
  3. Starting a business: Business ownership is part of the American dream. However, getting funding to chase your dreams can be complicated, especially in the infant stages. Personal loans or assets can be used to obtain funding to start a business. 
  4. Education: Investing in your future is a no brainer. Taking out a loan to fund living expenses or education costs to create more opportunities for your life is easy to justify. However, always consider the payment commitment that comes along with the loan. Just because you obtain education does not mean you will get the job you plan for. 


Pros & cons of $60k Personal Loans:


  • Fixed monthly payments (simplifies managing the loan)
  • Funded as a lump sum
  • Few spending restrictions
  • Funding in as little as 1-2 business days (although funding times can vary)
  • Get prequalified in seconds 
  • Opportunity to build/boost credit score


  • Interest and fees
  • Taking on debt
  • Risk of impacting credit score if payments are missed or loan is defaulted on

Why choose Acorn Finance for comparing $60k personal loans?

The higher the loan amount, the more the loan will likely cost. Therefore, the importance of comparing loans becomes even more important. Take advantage of our convenient portal with vetted and trusted top lending partners. With well-known names, you can expedite your way to finding the right $60,000 dollar personal loan. Check loan offers up to $100,000, depending on credit score. Our network of lending partners specialize in home improvement loans, but they can help with other needs as well. Our lending partners offer personal loans with few spending restrictions. 

Pros and cons of lenders $60k Personal Loans:


Minimum qualifications: 

  • Minimum credit score requirement of 660 or above 
  • Minimum income requirement of $50,000/year



  • No origination fees
  • Funding as soon as one business day on approved loans, although funding times can vary
  • Competitive loan offers
  • Allows co-signer
  • Large personal loans available 
  • Flexible repayment periods up to 12 years



  • Strict qualification requirements
  • No access to pre-qualify through the LightStream website (When applying directly, you can get pre-approved but not pre-qualified, therefore, you may be subject to a hard credit pull. To get pre-qualified with LightStream, check offers through Acorn Finance to see if you qualify.)
  • No direct payment to creditors for debt consolidation loans



Minimum qualifications:

  • Minimum credit score requirement of 680 or above 
  • Minimum income requirement of $50,000/year



  • Flexible loan amounts and repayment terms
  • No origination fees
  • Competitive interest rates
  • Funding as soon as one business day on approved loans, although funding times can vary
  • Allows cosigner applications
  • Unemployment protection available



  • High credit score requirement
  • Approvals may take 3 days or more


Best Egg

Minimum qualifications:

  • Minimum credit score requirement of 600 or above 
  • No minimum income requirement 



  • Fair credit scores can qualify
  • No minimum income requirement
  • Same or next day funding available, although funding times can vary



  • Not available in some states
  • Origination fees between 0.99% and 6.99%
  • Higher APRs


Minimum qualifications:

  • Minimum credit score requirement of 600 or above 
  • No minimum income requirement 


  • Low threshold for credit score
  • No minimum income requirement
  • Flexibility to change payment dates
  • Offers peer-to-peer lending



  • Long funding times
  • Origination and late fees may apply
  • No rate discount for autopay is available
  • Restrictive repayment periods
  • Funding may take about 5 business days 


Minimum qualifications:

  • Minimum credit score requirement of 560 or above 
  • No minimum income requirement



  • Low credit score requirement
  • No early payoff penalty
  • Joint applications allowed
  • Funding as soon as one business day on approved loans, although funding times can vary



  • Origination fees between 2.9% to 8%
  • Higher APRs, especially for subprime borrowers


Axos Bank

Minimum qualifications:

  • Minimum credit score requirement of 700 or above 
  • Minimum income requirement $48,000/year



  • Low origination fees
  • Mobile app to manage loans
  • Fast funding times
  • Funding as soon as one business day on approved loans, although funding times can vary



  • High credit score requirement
  • Origination fee up to 2%

OneMain Financial

Minimum qualifications:

  • Minimum credit score requirement of 600 or above 
  • Minimum income requirement $7,200/year



  • Low credit score requirement
  • Offers secured loan option
  • Low income requirement
  • Flexibility to choose your payment date
  • Fast funding times



  • High interest compared to similar lenders
  • Origination fee between 1% – 10% (or flat fee up to $500 depending on state)


Minimum qualifications:

  • Minimum credit score requirement of 600 or above 
  • Minimum income requirement $30,000/year



  • Low origination fees
  • Relaxed credit score and income requirements
  • Same or next-day funding is available, although funding times can vary



  • No joint applications
  • High loan costs
  • Short repayment periods 

Lending USA

LendingUSA is best for one-time purchases or uses, such as cosmetic surgery financing, pet financing, funeral financing, and more. LendingUSA offers loans for a variety of industries. Loans can be obtained through the LendingUSA website or through a merchant partner that refers to LendingUSA. 


One of the main highlights of LendingUSA is their offer to pay off a loan balance within 6 months. By doing so, 

no interest will be charged to the principal. However, LendingUSA may be better suited for smaller loan amounts. 

Reprise Financial

Reprise Financial can help borrowers find personal loan offers that meet their needs. In order to help borrowers obtain funds quickly, Reprise works to streamline the personal loan process. With customized payment options and fixed rates, check personal loan offers at Reprise Financial. 


Similar to Acorn, one of the main highlights of Reprise financial is the ability to shop and compare offers. 

Universal Credit

For borrowers with bad credit, Universal Credit may be your golden ticket to the funds you need. With a minimum credit score requirement of only 560, Universal Credit is a top choice for subprime borrowers. While loan costs may be higher, they usually are when it comes to borrowing money with bad credit. 


One of the main highlights of Universal Credit is their relaxed requirements. Bad credit borrowers often face fewer choices for loans. Finding the right lender to work with is key to getting the loan you desire.

One home, endless possibilities


Personal Loan Information