A $170,000 personal loan is a significant financial commitment, and finding one isn't as straightforward as borrowing $20,000 or $50,000. Since most mainstream banks and online lenders cap unsecured personal loans at $50,000 to $100,000, you’ll need a specialized lender. The added risk of such a large loan also means you should have a strong financial profile and a clear understanding of what approval takes.

In this guide, we’ll walk you through monthly payment estimates, lender requirements, and the personal loan application process. You'll also learn how a $170,000 personal loan compares to alternatives so you can make a confident, informed decision.

Key takeaways

A $170,000 unsecured personal loan is uncommon but available through specialized lenders. It typically requires a minimum credit score of 640, a well-established credit history, a stable, verifiable income, and a debt-to-income (DTI) ratio of no more than 36% to 40%. To find the right type of six-figure financing for your needs, prequalify with lenders, compare payments and APRs, and consider all your options.

What is a $170,000 personal loan?

A $170,000 personal loan is an installment loan that provides you with funds in a lump sum. It typically has a fixed interest rate, so interest costs are predictable, monthly payments are equal, and they fit your budget. You’ll repay the personal loan over a set term, such as two to 10 years. Additionally, most $170,000 personal loans are unsecured, so you don’t need to risk any personal assets.

Large personal loans are popular for consolidating high-interest debt. For example, the average credit card has an annual percentage rate (APR) of 21% compared to 11.40% for the average personal loan, according to the Federal Reserve. They’re also useful for large expenses, such as home repairs, and for smoothing cash flow.

FYI

BHG Financial offers access to large unsecured personal loans of up to $250,000¹ to qualified borrowers.

How much does a $170,000 loan cost?

Before taking out a large personal loan, compare options carefully to assess affordability and total costs. Monthly payments and total interest for a $170,000 personal loan vary widely based on your APR (determined by your creditworthiness) and chosen repayment term.

While you can prequalify to get custom estimates, the table below shows estimated payments and interest costs based on four APR scenarios and three term lengths.

	5-year term	7-year term	10-year term
8% APR	$3,447/month $36,819 total interest	$2,650/month $52,571 total interest	$2,063/month $77,508 total interest
10% APR	$3,612/month $46,720 total interest	$2,822/month $67,065 total interest	$2,247/month $99,588 total interest
12% APR	$3,782/month $56,893 total interest	$3,001/month $82,081 total interest	$2,439/month $122,680 total interest
15% APR	$4,044/month $72,657 total interest	$3,280/month $105,558 total interest	$2,743/month $159,124 total interest

Image is a representative example for illustrative purposes only and does not reflect actual customer information.

With a 10-year $170,000 loan at a 12% APR, you'd pay about $122,680 in interest, bringing your total repayment cost to roughly $292,680. Choosing a 5-year term at the same rate cuts your total interest to about $56,893, but it raises your monthly payment by about $1,343.

That tradeoff between monthly cash flow and total cost is one of the most important decisions you'll make when deciding on a large loan. For some borrowers, long-term personal loans can make a higher loan amount more manageable each month. At the same time, you can make extra principal payments, often with no prepayment penalty.

Can you qualify for a $170,000 unsecured personal loan?

Qualifying for a six-figure unsecured personal loan requires more than a decent credit score. Lenders evaluate your full financial picture—credit history depth, income stability, existing debts, and documentation—before approving amounts at this level.

Credit profile

Lenders offering unsecured loans of $170,000 typically look for a well-established credit history. This includes multiple account types (such as installment loans and revolving credit), low revolving utilization, and no recent delinquencies or collections.

BHG Financial requires a minimum credit score of 640 for personal loans, though requirements vary by lender. The higher the loan amount, the more lenders scrutinize the depth and consistency of your credit history and not just the score itself.

Also, the higher your credit score, the lower your personal loan APR might be. That helps lower your total interest costs and monthly payment.

Income requirements

Lenders require stable, verifiable income to approve you for a $170,000 personal loan. For a large personal loan through BHG Financial, you’ll typically need to earn at least $100,000.

However, lenders also consider multiple income sources, such as W-2, self-employment, investment, rental property, and dividend income. That can help with approval when you have a complex income situation.

DTI ratio guidelines

Your debt-to-income ratio (DTI) is your total monthly debt payments divided by your total before-tax monthly income. It's one of the most important factors lenders use to evaluate payment affordability. Most lenders prefer to see a DTI ratio below 36% to 40% for large unsecured balances, though specific thresholds vary by lender and product.

Here's how a $170,000 loan can shift your DTI ratio in practice: If your gross monthly income is $18,000 and your existing monthly debt payments total $2,500, your current DTI is about 14%. Adding a $2,800 monthly payment for a $170,000 loan raises that DTI ratio to about 29%. While that’s still within a range many lenders accept, it’s higher than before and may strain your cash flow.

Choosing a longer term reduces your monthly payment, which directly lowers your post-loan DTI ratio and can improve your approval odds. However, keep in mind it also substantially increases your total interest costs unless you pay your loan off early.

Documentation requirements

Large loan amounts typically require more verification than smaller personal loans. Having these documents ready before you apply can shorten your approval and funding timeline:

Government-issued photo ID, such as your passport, driver’s license, or state ID
Proof of income, such as W-2s and recent pay stubs for salaried borrowers or two years of tax returns and bank statements for self-employed applicants
Recent bank statements (typically two to three months)
Proof of address, such as mortgage or auto loan statements
Account and creditor details for any debts you’re consolidating
Bank account information for funding and payment setup

The more organized your documentation, the faster your lender can complete verification and move toward funding.

How to strengthen your application

If your current finances fall short of the typical requirements to borrow $170,000, you can take these concrete steps to improve your position:

Pay down your revolving balances, which will help reduce your credit utilization and your DTI ratio.
Choose a longer repayment term to reduce the monthly payment used in DTI ratio calculations.
Verify all income sources and ensure your documentation reflects your full earning picture.
Review your credit report for errors and dispute any inaccuracies using this guide before applying.
Consider adding a co-borrower whose income and credit profile can strengthen your overall application.

How to apply for a $170,000 personal loan

The application process for a large personal loan doesn't have to be complicated. Follow this clear, step-by-step approach to keep the process moving and reduce delays.

1. Shop around and compare options

Look beyond traditional banks and credit unions to find online lenders that specialize in large personal loans. These lenders often cater to high-income professionals or provide funds for a specific purpose, such as home improvement.

Next, compare multiple potential lenders based on these important factors:

Available repayment terms
APR ranges
Extra costs, such as origination fees and prepayment penalties
Borrower standards for credit scores, DTI ratios, and income
Customer reviews and Better Business Bureau ratings
Availability of personal loan prequalification
Funding speed
Any restrictions on funds

Narrow your options to three to five lenders before moving forward.

2. Prequalify with a soft credit check

Request a personalized rate estimate from each lender. Personal loan prequalification, which uses only a soft credit inquiry, lets you see your options—including estimated payment amounts and APR ranges—without affecting your credit score.;

This step gives you a realistic picture before you commit to a certain lender or complete an official application, which requires a hard inquiry and can affect your credit score.

3. Select the amount and term that fit your cash flow

Use the payment and APR estimates from prequalification to determine how different terms affect your monthly obligation. Regardless of the loan amount you prequalify for, be sure that your loan payments can comfortably fit into your monthly budget.

Ultimately, you should choose the structure that keeps your DTI ratio manageable and aligns with your financial goals. Remember, you can usually make extra principal payments when your budget allows, reducing total interest. But first, verify that your chosen lender doesn’t charge a prepayment penalty.

FYI

BHG Financial doesn’t charge any penalty for making partial payments or paying off your loan balance early.

4. Upload documents and complete verification

After you select a loan and lender, continue with the official application and submit the requested documentation. During this step, your lender will thoroughly assess your finances and run a hard credit check. According to myFICO, the impact on your credit score is usually not more than five points and should be temporary.

Respond promptly to any follow-up requests from your loan specialist to reduce processing delays. BHG Financial's U.S.-based concierge lending team can guide you through each step.

5. Get approved and funded

Approval and fund disbursement timelines vary by lender. But with an unsecured $170,000 loan, the process is typically much quicker than secured alternatives.

If you get a loan through BHG Financial, approval decisions can come in as little as 24 hours, and if approved, funds are available in as few as five days.² These funds may go to existing creditors (for consolidation) or into your bank account.

After receiving your funds, set up autopay to avoid missed payments, late fees, and credit damage. You might even get a small APR discount for doing this.

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^† This is not a guaranteed offer of credit and is subject to credit approval.

$170,000 personal loan vs. alternatives

A $170,000 unsecured personal loan isn't the only way to access this level of financing. Depending on your situation, a secured alternative or a business loan may offer better terms or a clearer path to approval.

HELOC or home equity loan

Home equity loans and home equity lines of credit (HELOCs) generally offer lower APRs and longer repayment terms than unsecured personal loans. The interest can even be tax-deductible if you use the borrowed money for qualified home improvements, according to the IRS (consult a tax professional for your specific situation).

However, your home serves as collateral, so missed payments put it at risk. Also, while home equity loans usually have fixed rates, HELOCs often carry variable rates that may rise over time. Plus, closing costs and appraisals can add to your time and expense.

Ultimately, home equity financing can be a better option when you're a homeowner with substantial equity, your primary goal is the lowest possible rate, and you're comfortable with the collateral requirement. If you're comparing HELOCs to personal loan options, weigh the lower rate against the added risk to your home.

Secured personal loan

Because it uses collateral, a secured personal loan can make approval more accessible and offer a lower rate than an unsecured loan. However, you risk losing the pledged asset (such as a vehicle or money in your savings account) if you default on payments. Additionally, not all lenders offer secured personal loans of this size.

A secured personal loan can be a better option when you have acceptable collateral, and you prioritize getting a lower rate over avoiding the risks of collateral. It helps to compare secured and unsecured personal loans before choosing between the two.

Get your $170,000¹ loan through BHG Financial

BHG Financial offers an uncommon combination: access to unsecured personal loans up to $250,000¹ with fixed terms up to 10 years,^1,3 fixed rates, and no collateral required.

Our approach lets you access six-figure financing without putting your assets on the line or facing the slower timelines that come with home equity underwriting. Plus, a fixed-rate personal loan means your obligation stays predictable from the first payment to the last, making budgeting easier for those with fluctuating cash flow.

When you’re ready to apply, you can check your rate and see your options with a soft credit pull that doesn’t affect your credit score.⁴ If you decide to move forward, approval decisions can come in as little as 24 hours, with funds available in as few as five days.²

BHG Financial has been serving professionals since 2001 and has helped originate more than $28 billion in loans. It holds an A+ rating with the Better Business Bureau and has earned more than 4,400 five-star reviews on Trustpilot.

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^† Terms subject to credit approval upon completion of an application. Loan sizes, interest rates, and loan terms vary based on the applicant's credit profile. Not all applicants will qualify for the lowest rate.

$170,000 personal loan FAQs

Can you get a $170,000 personal loan?

While $170,000 personal loans exist, they’re uncommon. Most mainstream lenders cap unsecured personal loans at $50,000 to $100,000, and some require collateral at amounts above that. Specialized loan providers like BHG Financial offer unsecured personal loans of up to $250,000,¹ meaning no home equity or other collateral is required.

Is a $170,000 personal loan harder to qualify for than a $150,000 personal loan?

Generally, yes, it’s harder to qualify as the loan amount gets larger. Lenders typically scrutinize income verification, cash reserves, and DTI ratios more closely. Moving from $150,000 to $170,000 may push you past a lender's internal approval threshold, especially if the higher payment tips your DTI ratio above the lender's comfort zone.

What credit score do you need for a $170,000 personal loan, and how can you improve your odds?

Very few lenders allow borrowers to qualify for an unsecured $170,000 personal loan. BHG Financial requires a minimum credit score of 640 for personal loans, though the most competitive rates are typically available to borrowers with stronger profiles. Lenders also consider credit depth—the length of your history, the mix of account types, and the absence of recent delinquencies—not just the score itself.

Are there better alternatives to a $170,000 personal loan for large expenses or debt consolidation?

It depends on your situation. A home equity loan or HELOC typically offers lower APRs than an unsecured personal loan, but your home serves as collateral and closing costs and appraisals add time and expense. A cash-out refinance helps you access equity at mortgage rates, but it resets your loan term and isn’t ideal if your current rate is low. A secured personal loan may be easier to qualify for with acceptable collateral.

How to Qualify for and Get a $170,000 Personal Loan