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5 Moving Loans for Relocation Expenses

While a moving loan can be a simple way to help you cover your relocation expenses, the interest charges could add to your overall moving costs.

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By Miranda Marquit

Written by

Miranda Marquit

Writer

Miranda Marquit is a personal finance journalist with work featured on NPR, Marketwatch, FOX Business, The Hill, U.S. News & World Report, Forbes, and more.

Edited by Ashley Harrison

Written by

Ashley Harrison

Writer

Ashley Harrison is a Credible authority on personal finance who enjoys helping people become debt-free.

Updated January 26, 2024

Editorial disclosure: Our goal is to give you the tools and confidence you need to improve your finances.

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If you need to relocate, moving loans could help you cover the costs. Moving loans are a type of personal loan specifically for covering relocation expenses, such as hiring movers, renting a truck, and more.

The average cost of a move within your state is $2,300 while an out-of-state move is $4,300 (also accounting for four movers and an average weight of 7,400 pounds)[]. A moving loan could make these costs more affordable.

Personal loans for moving expenses

There are several lenders that offer personal loans for relocating. Moving loans are generally unsecured personal loans, so you don’t have to worry about collateral. The lenders in the table below are Credible’s partners that offer moving loans.

Advertiser Disclosure
3.93.9

Credible rating

Fixed (APR)

9.95% - 35.99%

Loan Amounts

$2000 to $35000

Min. Credit Score

550

Check Rates

on Credible’s website

View Details

44

Credible rating

Fixed (APR)

8.99% - 35.99%

Loan Amounts

$2000 to $50000

Min. Credit Score

600

Check Rates

on Credible’s website

View Details

44

Credible rating

Fixed (APR)

9.57% - 35.99%

Loan Amounts

$1000 to $40000

Min. Credit Score

660

Check Rates

on Credible’s website

View Details

4.44.4

Credible rating

Fixed (APR)

-

Loan Amounts

$3,500 to $40,000

Min. Credit Score

660

Check Rates

on Credible’s website

View Details

3.93.9

Credible rating

Fixed (APR)

7.80% - 35.99%

Loan Amounts

$1000 to $50000

Min. Credit Score

620

Check Rates

on Credible’s website

View Details

All APRs reflect autopay and loyalty discounts where available | LightStream disclosure | SoFi Disclosures | Read more about Rates and Terms

Avant

Avant offers personal loans from $2,000 up to $35,000. A moving loan from Avant could be a good choice if you’re looking for personal loans for bad credit.

  • Rates: - APR
  • Loan terms (years): 2, 3, 4, 5
  • Min. credit score: 550
  • Loan amount: $2,000 to $35,000[**]
  • Fees: Origination fee
  • Discounts: Autopay
  • Eligibility: Available in all states except CO, IA, HI, VT, NV, NY, WV
  • Min. income: $1,200 monthly
  • Customer service: Phone, email
  • Soft credit check: Yes
  • Time to get funds: As soon as the next business day (if approved by 4:30 p.m. CT on a weekday)
  • Loan uses: Debt consolidation, emergency expense, life event, home improvement, and other purposes

Avant personal loan review

Best Egg

You can get a $2,000 personal loan up to a $50,000 personal loan with Best Egg to cover your moving costs. If you need fast loan funding, Best Egg could be a choice option.

  • Rates: - APR
  • Loan terms (years): 2, 3, 4, 5
  • Min. credit score: 600
  • Loan amount: $2,000 to $50,000
  • Fees: Origination fee
  • Discounts: None
  • Eligibility: Available in all states except DC, IA, VT, and WV
  • Min. income: None
  • Customer service: Phone
  • Soft credit check: Yes
  • Time to get funds: As soon as 1 to 3 business days after successful verification
  • Loan uses: Credit card refinancing, debt consolidation, home improvement, and other purposes

Best Egg personal loan review

LendingClub

You can borrow $1,000 up to $40,000 with LendingClub. As a peer-to-peer lender, LendingClub could be a good choice if you’re looking for personal loans for fair credit. However, because you’ll have to wait for an investor to accept your loan offer, a LendingClub loan might take a slightly longer time to fund.

  • Rates: - APR
  • Loan terms (years): 3, 5
  • Min. credit score: 600
  • Loan amount: $1,000 to $40,000
  • Fees: Origination fee
  • Discounts: None
  • Eligibility: Available in all 50 states
  • Min. income: None
  • Customer service: Phone, email
  • Soft credit check: Yes
  • Time to get funds: Usually takes about 2 days
  • Loan uses: Debt consolidation, paying off credit cards

LendingClub personal loan review

Find Out: Swimming Pool Loans: Finance with a Personal Loan

Marcus

Marcus is the consumer banking arm of Goldman Sachs and offers personal loans from $3,500 to $40,000. You’ll need good credit to qualify for a Marcus personal loan. Marcus could also be a good option if you’re looking for debt consolidation loans, credit card consolidation loans, or home improvement loans.

  • Rates: - APR
  • Loan terms (years): 3, 4, 5, 6
  • Min. credit score: 660
  • Loan amount: $3,500 to $40,000
  • Fees: None
  • Discounts: Autopay
  • Eligibility: Available in all 50 states
  • Min. income: Undisclosed
  • Customer service: Phone
  • Soft credit check: Yes
  • Time to get funds: Many Marcus customers receive funds in as few as three days
  • Loan uses: Credit card refinancing, debt consolidation, home improvement, major purchase, and other purposes

Marcus personal loan review

Upstart

With Upstart, you can borrow as little as $1,000 or as much as $50,000. If you have a thin credit history, Upstart could be a good option.

  • Rates: - APR
  • Loan terms (years): 3, 5, 7
  • Min. credit score: 580
  • Loan amount: $1,000 to $50,000
  • Fees: Origination fee
  • Discounts: None
  • Eligibility: Available in all 50 states
  • Min. income: $12,000
  • Customer service: Phone, email
  • Soft credit check: Yes
  • Time to get funds: As soon as 1 - 3 business days
  • Loan uses: Payoff credit cards, consolidate debt, take a course or bootcamp, relocate, make a large purchase, and other purposes

Upstart personal loan review

Learn More: Personal Loans With No Credit Check

Relocation loans: Pros and cons

Whether moving loans make sense for you depends on your situation. Here are some pros and cons of moving loans to keep in mind:

Pros
Cons
  • Typically unsecured, so you don’t need collateral
  • Wide range of loan amounts available
  • Usually have lower rates than credit cards
  • Can come with high fees, depending on the lender
  • Limited options for borrowers with fair or bad credit
  • Interest will add to your overall moving costs

Check Out: Types of Personal Loans

How to qualify for a moving loan

To qualify for a personal loan for moving expenses, you’ll generally need to meet the lender’s credit and income requirements. Every lender has its own set of criteria, so it’s a good idea to research lenders ahead of time.

Credible makes this process easier — you can compare prequalified rates from multiple lenders in two minutes to see what loan option fits your needs.

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How to apply for a moving loan

If you decide to take out a moving loan, follow these steps:

  1. Estimate your moving costs: Be sure to consider all of your expenses to figure out how much you’ll need to borrow. For example, you might only need a $1,000 personal loan — or you might need a $10,000 personal loan.
  2. Compare your rates: Many personal loan lenders let you check your rates and loan options before filling out a full application. It’s also a good idea to consider what fees the lenders might charge. Credible makes this easier — you can compare your prequalified rates from multiple lenders at once after filling out a single form.
  3. Pick the option you like most: After comparing lender rates and fees, choose the loan that best fits your needs.
  4. Get your loan funds: Once you’ve made your choice, you can fill out a full application for your loan and submit any required documentation. If you’re approved, you’ll need to sign for your loan to have the funds sent to you. It typically takes one to seven business days to fund a loan — though you might get your money in less than five business days if you take out your loan through Credible.

Alternatives to moving loans

You can use personal loans for a variety of purposes, but they’re not always the right choice. Here are some other options that could help cover your moving expenses:

  • Sell unused items: This can be a good way to reduce how much you’ll need to move while making money in the process. However, this takes time and effort.
  • Get help from family and friends: If you need help moving, your family and friends might be willing to pitch up with gifts or no-interest loans. Just be careful not to strain your relationships.
  • Use a 0% APR credit card offer: If you’re considering a personal loan vs. credit card, keep in mind that some credits come with 0% APR introductory offers. This could help you save on interest if you’re able to pay off your balance before this period ends. But if you don’t pay off your balance in time, you could end up paying some hefty interest charges.
  • Save up your money: If you know you’ll be moving in the future, you might have time to set money aside and avoid a cash crunch altogether. A high-yield savings account could be a good way to earn more interest while you’re saving.

Keep Reading: What Are Personal Loans Used For?

[]American Moving and Storage Association

Meet the expert:
Miranda Marquit

Miranda Marquit is a personal finance journalist with work featured on NPR, Marketwatch, FOX Business, The Hill, U.S. News & World Report, Forbes, and more.