@MeCasa wrote:I have a credit score of 782 and very little debt. When I come on these sites I see a lot of offers but they don't say what the offers are for? I'm looking for an unsecured loan at $80,000, but they don't say anything about what security they require. I'm not sure how you would secure a note with an online loan?
My wife was approved for a loan from SoFi in November, 2022 for $42,000. It was a much simpler process than she anticipated. Look into SoFi and see what they can do for you. Best of luck.
Unfortunately it's going to be next to impossible for anyone to give a definitive answer because it's really going to depend on your scores, credit history, and financial status.
Most unsecured loans are going to be $50k or less. There's only a handful of lenders that will do up to $100k personal loans, and one that I know of that will do up to $200k. Most lenders that require collateral are going to look for assets that are:
- Easy to value
- Stable in value
- Easy to liquidate should you default.
Among the most common forms of collateral required for larger loans are... Home Equity, and property. But, each lender is going to have a list of assets they're willing to accept, or not, along with stipulations on those assets that have to be met in order to be considered. You really won't know whether or not they require collateral, or what type of collateral they'll accept until you apply.
Generally larger loans like this come with not so great interest rates and repayment terms. Again this is dependant on the strength of the applicant. Sometimes those terms can be improved (slightly) by offering what they feel is an acceptable type, and amount of collateral to them (it will likely not feel very acceptable to you).
