The fastest way to get a $100,000 loan is with a personal loan if you can qualify. But you'll need to have at least a six-figure income and good credit, and only a handful of lenders offer $100,000 loans that aren't secured by collateral. Another $100,000 loan option is a home equity loan (if you have home equity).
We'll cover where and how to get a $100k loan plus average borrower profiles and approval estimates for $100k loans on the Credible marketplace. We'll also look at how much it costs to borrow $100,000.
Where to get a $100,000 personal loan
Options for a $100,000 personal loan are more limited than for smaller loan amounts but include online lenders as well as traditional banks and credit unions. These online lenders offer $100,000 personal loans, including Credible-partner lenders LightStream, SoFi, and BHG Financial:
Best $100,000 loan lenders
LightStream: Best overall
4.9
Credible Rating
Pros and cons
More details
SoFi: Best for excellent credit
4.8
Credible Rating
Pros and cons
More details
BHG Financial: Best for large personal loans
4.4
Credible Rating
Est. APR
-
Loan Amount
$20,000 to $200,000
Min. Credit Score
660
Pros and cons
More details
Wells Fargo: Best for existing customers
Most financial institutions don’t offer personal loans as high as $100,000. But Wells Fargo does. Funds are usually available the next business day after you're approved, and most approval decisions happen the same day you apply. Wells Fargo charges no origination fees. But you'll need to be a Wells Fargo customer for at least 12 months to qualify.
Approval estimates for $100,000 loans
We crunched a year's worth of data to find the average $100,000 loan rates that people using the Credible marketplace received and how likely they were to prequalify. Not surprisingly, borrowers with excellent credit saw the lowest rates and were the most likely to qualify.
Notably, qualifying for a $100,000 loan requires a relatively high income, and it's harder to get approved without good credit.
Data are for borrowers who used the Credible marketplace from March 2024 through February 2025; % prequalified represents the percentage who prequalified for a $100,000 loan. Source: Credible
Top loan purposes for $100,000 loans
Most people who got a $100,000 loan through Credible used it for debt consolidation or home improvement and had a credit score in the “good” or “very good” FICO credit score range.
Loan purposes are for closed $100,000 loans (+/- $10,000) from March 2024 through February 2025 with average borrower TransUnion V9 credit scores. Source: Credible
Interest rates for $100,000 loans by loan purpose and credit score
In addition to your credit score, lenders consider how you want to use the loan when determining what APR to offer. The graph below shows how APRs varied for different loan purposes for borrowers who used the Credible personal loan marketplace to prequalify for a $100k loan.
$100,000 loan cost comparison
This graph illustrates how different APRs can affect how much you'll pay over the life of the loan. The difference in total interest costs can be particularly significant on larger loan amounts, like $100,000.
Personal loan calculator
You can use the personal loan calculator below to estimate the cost of a $100,000 loan with different interest rates and repayment terms.
Expert editor insight: “Not many traditional banks offer $100,000 personal loans, with Wells Fargo and USAA among the exceptions. Then there’s SoFi, which is an online lender/bank hybrid that offers loans between $5,000 and $100,000. SoFi doesn’t have physical branch locations, though, so the traditional bank experience of an in-person meeting with a loan officer isn’t an option.”
— Barry Bridges, Personal Loans Editor, Credible
How to get a $100,000 loan
Before applying for a personal loan — especially one as large as $100,000 — make sure you meet all the requirements. Here’s how:
- Check your credit score. There’s not a specific credit score needed for a large personal loan. However, most lenders want a borrower with good or excellent credit, which generally means a FICO score of 670 or higher. Check your credit score so you know whether you’re likely to qualify or whether you should work on building your credit first.
- Compare lenders. To start, research and compare multiple lenders. But check out more than just the rate. Consider repayment terms, fees, and eligibility requirements. You can often compare estimated rates by getting prequalified with lenders, which won’t affect your credit score.
- Choose the best option. Remember that the best loan isn’t always the one with the lowest interest rate. A loan could have a low interest rate, but large fees can negate it. Instead, consider the annual percentage rate (APR), which accounts for fees, such as an origination fee, in determining how much it costs to borrow money.
- Complete the application. Once you complete a full application, the lender will conduct a hard credit pull, which provides a comprehensive look at your credit history and could impact your credit score. Be prepared with documents that verify your income and assets, including pay stubs, tax returns, and bank statements. The lender could ask for additional documentation as well.
- Get your funds. Once the loan is approved, review the loan agreement, and sign if everything looks good. Some lenders can send funds the same day you’re approved, while others may take up to a week. Most lenders deposit funds directly into your bank account.
Learn More: How To Get Approved for a Personal Loan
Tip
Prequalify before applying to get a sense whether you can get approved for a $100k loan and the rates and terms you might be eligible for.
Types of $100,000 loans
There are several types of loans you can get in amounts up to $100,000 — or more. Depending on your financial priorities, you may want to look into one of the following types of loans:
- Mortgage loans: A mortgage is a secured loan that helps you purchase a house. Because your house secures your mortgage, you risk losing your house if you don’t repay the loan. To qualify for a mortgage, you generally need good credit, stable income, and a low to moderate debt-to-income ratio (DTI). Most mortgage loans have terms of 15 to 30 years.
- Home equity-based loans: Home equity loans and home equity lines of credit (HELOCs) allow you to tap into the equity you’ve built up in your home. A HELOC is a form of revolving credit, while a home equity loan is a more traditional installment loan. Both are secured by your home, and like with a mortgage, you risk foreclosure if you can’t make payments. Because HELOCs and home equity loans are secured, rates tend to be lower than on personal loans, and credit requirements may be less stringent.
- Personal loans: A personal loan is typically an unsecured loan you can use to pay for a variety of personal expenses, such as medical bills, home improvements, weddings, and more. Because they aren’t secured by collateral, personal loans can be harder to qualify for. A few lenders offer loan maximums of $100,000 or more, and repayment terms are often between 2 and 7 years.
- Business loans: Business loans can be secured or unsecured. As the name suggests, you can use them to pay for a variety of business expenses, like buying business inventory or real estate. It’s worth noting there are different types of business loans with varying loan amounts, qualification requirements, and repayment terms.
Before moving forward with any of these $100,000 loans, consider some of their pros and cons:
Certain types of mortgages may not require good credit | Rates tend to be lower than on unsecured loans | You can use them for a wide variety of expenses | May have lower interest rates — especially secured business loans — than personal loans | |
Loan will become due if you sell | May have higher borrowing costs than other types of financing | Not all types of businesses are eligible for certain loans |
How fast can you get a $100,000 personal loan?
The time to fund a $100,000 personal loan can vary from one lender to the next. For example, if you take out a personal loan with LightStream or SoFi, you could get your money the same day you’re approved. On the other hand, a personal loan from BHG Financial or a traditional bank could take up to a week or more to fund.
The loan could take over a month to close if you're seeking a mortgage or home-equity-based financing.
While you don’t have control over when a lender will disburse your funds, a couple of ways to avoid any delays include:
- Filling out your application as accurately as possible
- Providing required documentation in a timely manner
Learn More: Best Emergency Personal Loans
How to qualify for a large personal loan
Each lender has its own eligibility requirements for personal loans, and the qualifications are often more restrictive for a loan as large as $100,000. However, there are some general requirements to expect:
- Good or excellent credit score: One of the most important factors lenders will consider is your credit score. You’ll generally need a good or excellent credit score — meaning a FICO score of 670 or higher — to qualify for a large personal loan.
- Sufficient credit history: It’s not just your credit score that lenders look at, but also your credit history. Lenders usually want to see several years of credit history with a good payment history, free of defaults and delinquencies.
- Reliable income: To show you can repay your personal loan, you must show that you have a reliable source of income that is sufficient to make monthly payments. While income most often comes from a job, you might also qualify if you receive alimony or retirement, rental, or regular investment income.
- Low debt-to-income ratio (DTI): Lenders want to see a low DTI, which refers to the percentage of your monthly income that goes toward debt. Your DTI — including all monthly debt payments — should be lower than 40% to 43%.
- Proof of assets: For such a large loan, some lenders may want to see a certain amount of assets in addition to your income and a low DTI. For example, LightStream requires that borrowers have shown an ability to save through retirement accounts and liquid assets.
Learn More: What Are the Requirements for a Personal Loan?
Remember
Each lender has its own requirements for large personal loans. Before you apply for a loan, double-check the lender's requirements.
Related: Current Personal Loan Interest Rates
How to get a $100K personal loan with bad credit
You’ll typically need good to excellent credit to qualify for a personal loan — usually considered a FICO score of 670 or higher — and sufficient income to make monthly payments.
While some lenders offer personal loans for bad credit, these loans usually have higher interest rates compared to good credit loans. And they likely won’t be available for loan amounts as high as $100,000.
If you have poor credit, consider the following:
- Explore secured loan options: Secured loans, or collateral loans, are often easier to get than unsecured loans. They require you to put up collateral, making them less risky for the lender. If you’re comfortable backing a loan with collateral, it may help you qualify for bigger, less expensive loans.
- Consider credit unions and community banks: Credit unions and community banks tend to be more member-focused than other types of lenders. This means they may be more likely to offer loans to borrowers with bad credit. But keep in mind that credit unions require you to be a member to get a loan, and you may have to meet certain eligibility requirements to do so.
- Apply with a cosigner or co-borrower: Getting a loan with a cosigner or co-borrower can improve your chances of qualifying for a $100,000 loan, particularly if you have bad credit or don’t meet a lender’s minimum income requirements. A co-borrower shares responsibility for payment and access to the funds, while a cosigner takes responsibility if you don’t pay but doesn't have access to the money. If you miss payments or default, it’ll hurt your cosigner’s credit as well as yours, and not all lenders allow cosigners.
- Improve your credit score: Improving your credit score takes time and patience, but it’s the smart thing to do if you’re not in a hurry to get a loan. You can build your credit by making consistent, on-time payments paying down credit card balances, and using a tool like Experian Boost so that bills like utility or subscription payments are reported to the credit bureaus.
Tip
You may also see a quick boost to your score by correcting any errors on your reports, or by signing up for a service that credits you for things like utility and rent payments.
Is a $100K personal loan right for me?
If you need a large influx of cash, a personal loan can be an excellent way to get one. Personal loans can generally be used for almost any purpose, including debt consolidation, home renovations, financial emergencies, and more.
A $100,000 loan may be a good option if you’re consolidating debt with an even higher interest rate or you know there will be a financial return (as in the case of major home renovations).
But $100,000 is a large sum of money, and the monthly payments can easily cost thousands of dollars. If you lose your job or face a financial setback, you could struggle to repay your loan and ruin your credit. Additionally, you may be looking at years of putting other financial goals on the back burner.
As with any personal loan, a large personal loan may not be worth it if the expense isn’t truly necessary.
Tip
Before taking out a personal loan, consider whether another type of loan is a better fit. For example, a home equity line of credit (HELOC) or home equity loan might be a better option for home renovations.
FAQ
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