Find a $25,000 personal loan
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Image: 25000Written by: Erin Dunn
Updated:
3 min read
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Taking out a $25,000 loan can be a smart move if it helps you achieve a financial goal.
But you’ll want to make sure you understand what type of personal loan is best for your situation and how those monthly payments will fit into your budget.
We’ll walk you through our recommendations for lenders to consider and how to apply for a loan.
Monthly payments for a $25,000 personal loan
| Loan duration | Average monthly payments ($25,000 loan) | |||
|---|---|---|---|---|
| Poor credit | Average credit | Good credit | Excellent credit | |
| 1–12 months | $2,419.10 | $2,865.50 | $2,748.99 | $2,168.97 |
| 13–24 months | $1,185.18 | $1,170.31 | $1,143.01 | $1,117.22 |
| 25–36 months | $877.98 | $846.85 | $804.90 | $777.94 |
| 37–48 months | $734.71 | $694.44 | $655.87 | $625.24 |
- The best $25,000 personal loans
- How to get a $25,000 loan
- FAQs about $25,000 loans
The best $25,000 personal loans
Discover
Discover’s loans come with no origination fees, and there are a wide variety of loan terms to choose from. If you want to consolidate debt with a personal loan, Discover will pay your creditors directly. But take note: You won’t be able to apply with a co-signer.
Payoff
Happy Money’s credit card debt consolidation loan, known as the Payoff loan, doesn’t come with prepayment penalties or late fees, but it has an origination fee. You must have a credit score of 640 or higher to qualify with no delinquencies, so the loan won’t be the right fit for everyone.
Rocket Loans
Rocket Loans’ application process is entirely online. If you’re approved for a personal loan, same-day funding is available and there are no prepayment penalties. But you’ll be charged an origination fee, and there are limited repayment options.
Digital Federal Credit Union
Digital Federal Credit Union can be a good option if you’re a member (or membership eligible) and would like to explore multiple loan options. This is particularly true if you can lock in the automatic payment and relationship discount. DCU doesn’t offer prequalification, so checking your loan eligibility will mean a hard credit check.
Upgrade
Upgrade offers some flexible loan terms and amounts, and you’ll have the option to prequalify. The lender doesn’t charge prepayment penalties (which is good if you pay your loan off early), but it does charge an origination fee that will add to your costs.
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How to get a $25,000 loan
Before searching for a $25,000 loan, it’s a good idea to check your credit scores and reports. Understanding your credit situation can help give you a sense of your ability to get a $25,000 loan and the kinds of loans that might be available to you.
After checking your credit, you can begin to shop around for a loan. It might be helpful to see what your bank or credit union has to offer, but it’s best to compare potential options from various lenders so you can find the best rates and terms for you.
If a lender offers prequalification, you can see the terms you might be offered without affecting your credit. Just keep in mind that you might need to provide personal information required to run a soft inquiry on your credit reports. And there’s no guarantee your estimated terms will be your final ones.
Once you’ve researched available loans, you can start to assess the best option for you. Making sure your lender will offer you a loan at your preferred amount is a necessity, but the lender might also have eligibility requirements and state availability restrictions that determine your ability to apply, including your intended use for the funds. You might also want to consider how fast the lender may send you your funds after approval.
Your potential interest rate, the length of the loan and any fees will affect the overall cost. We recommend using a loan calculator to determine how much you might end up paying over the life of the loan.
FAQs about $25,000 loans
Is a $25,000 loan hard to get?
Your ability to get a $25,000 loan typically depends on your credit profile and a lender’s requirements for approval. For instance, a borrower with bad credit may only be able to get approved from a lender that specifically advertises loans for people with less-than-perfect credit. Applicants with lower credit scores will likely get offers with higher interest rates and fees than people with stronger credit scores get.
Can you get a $25,000 loan with bad credit?
Many lenders consider applicants with less-than-perfect credit, so they may be a better choice if you’re looking to get approved for a loan. Even so, loans for bad credit tend to come with higher interest rates and fees. If you have bad credit, look for lenders that offer prequalification — this can give you an idea of the terms you might be offered before you commit, without hard inquiry that can temporarily bring your scores down further.
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As an expert in personal finance and lending, I bring a wealth of knowledge and experience to guide you through the intricacies of obtaining a $25,000 personal loan. My expertise is grounded in a deep understanding of the financial landscape, lending practices, and the nuances that borrowers face when seeking loans.
Let's delve into the key concepts mentioned in the provided article:
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Editorial Note and Compensation Disclosure: The article begins with a disclaimer from IntuitCredit Karma about receiving compensation from third-party advertisers. This information is crucial as it establishes transparency regarding potential biases in the content. As an enthusiast, I emphasize the importance of considering such disclosures to make informed decisions.
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Taking out a $25,000 Loan: The central theme of the article revolves around the decision to take out a $25,000 loan. It highlights the importance of understanding the type of personal loan that best suits your financial situation and how the monthly payments will align with your budget. This underscores the need for borrowers to assess their financial goals and capabilities before committing to a loan.
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Monthly Payments Breakdown: The article provides a detailed breakdown of monthly payments for a $25,000 personal loan based on different loan durations and credit scores. This information is valuable for borrowers to estimate their potential monthly obligations and choose a loan term that aligns with their financial capacity.
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Recommended Lenders: The article lists several lenders and their unique features, such as Discover, Payoff, Rocket Loans, Digital Federal Credit Union (DCU), and Upgrade. Each lender is briefly characterized by factors like origination fees, application processes, prepayment penalties, and eligibility criteria. This insight aids readers in evaluating potential lenders based on their preferences and requirements.
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How to Get a $25,000 Loan: The article provides practical advice on preparing to apply for a $25,000 loan. It suggests checking credit scores and reports before initiating the search, emphasizing the importance of understanding one's credit situation. The article recommends shopping around for the best rates and terms, utilizing prequalification options, and considering various factors like loan amounts, eligibility requirements, and turnaround times.
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FAQs about $25,000 Loans: The FAQs section addresses common questions about obtaining a $25,000 loan. Topics include the difficulty of getting such a loan, the impact of bad credit on loan approval, and the availability of loans for individuals with lower credit scores. This section provides practical insights for individuals considering a loan, helping them navigate potential challenges.
In conclusion, my in-depth understanding of these concepts positions me as a reliable source for guidance on obtaining a $25,000 personal loan. If you have further questions or need personalized advice, feel free to inquire.
