Best Moving Loans for Relocation Expenses

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According to HomeAdvisor, a local move may cost only a few hundred dollars, while a long-distance move may cost thousands of dollars if you’re moving out of state.

A moving loan may be a smart alternative if you don’t have the cash to pay for your moving expenditures upfront. A moving loan, also known as a relocation loan, is an unsecured personal loan that can be used to pay for a range of relocation or moving fees.

You can use a moving loan to get the funds you need to rent a truck, store your belongings, hire professional movers, purchase packing supplies, and obtain moving insurance. You may also be able to use the funds to pay for your security deposit, first and final months’ rent, and other moving expenses.

Are you unsure on which relocation loan to take out? Here’s our list of the best moving loans, along with the characteristics that set them apart.

Best Moving Loans: Rates, Fees, & Terms


Personal Loans for Moving and Relocation

Best Overall Moving Loan
Upgrade Personal Loans for Moving
On Upgrade's Secure Website
Upgrade Moving Loan
  • Est. APR
    5.94% – 35.97%
  • Min. Credit Score
  • Learn More
  • Loan Details

Upgrade is a wonderful option if you only need a little loan to cover relocation costs. The application process is simple, and you can examine rates without hurting your credit score. They also provide individualized loan options to all of their consumers. Unlike some of its competitors that offer same-day approval, Upgrade may take a few days to accept a loan application.

>> More: Upgrade Personal Loans Review

Best Moving Loan with Flexible Requirements
Upstart Moving Loan Rates
On Upstart's Secure Website
Upstart Moving Loan
  • Est. APR
    6.13 - 35.99%*
  • Min. Credit Score
  • Learn More
  • Loan Details

Upstart is an online lending platform that works with banks to provide personal loans. Upstart’s lending approach analyzes education, employment, and other factors. With Upstart, you can borrow $1,000 or $50,000. Upstart may be a good alternative if you have bad or thin credit. Upstart claims customers may prequalify in five minutes and receive approval in one business day.

>> More: Upstart Personal Loans Review

Best Moving Loan for Fast Funding
Best Egg Moving Loans
On Best Egg's Secure Website
Best Egg
  • Est. APR
    4.99 - 35.99%
  • Min. Credit Score
  • Learn More
  • Loan Details

Best Egg is a Marlette Funding-backed online lender. If you’re moving soon and can’t wait too long to obtain your money, a Best Egg moving loan could be a good option. According to Best Egg, over half of its customers receive their cash as soon as the next day. However, various issues can cause your money to be delayed, and depending on your bank; you may have to wait before you can access your funds. To qualify for Best Egg’s lowest rates, you must have a credit score of at least 700 and an annual income of $100,000.

>> More: Best Egg Personal Loans Review

Best Peer-to-Peer Moving Loan
LendingClub Moving Loan Rates
On LendingClub's Secure Website
  • Est. APR
    7.04 - 35.89%
  • Min. Credit Score
  • Learn More
  • Loan Details

Personal loans from LendingClub are ideal for customers with poor credit who want to consolidate debt or fund significant expenditures. Though not the cheapest loan available, LendingClub provides borrowers with numerous payment options and is upfront about rates and costs. Although there is no application cost or prepayment penalty at LendingClub, there are other fees. LendingClub personal loans have loan origination fees ranging from 3% to 6% of the entire loan amount, depending on your credit.

>> More: LendingClub Personal Loans Review

Best Good Credit Moving Loan
Marcus by Goldman Sachs Moving Loan Rates
On Marcus's Secure Website
Marcus Moving Loan
  • Est. APR
    6.99 - 19.99%
  • Min. Credit Score
  • Learn More
  • Loan Details

Marcus is Goldman Sachs’ online-only consumer banking and lending subsidiary. It provides no-fee unsecured personal loans to individuals with solid credit. Marcus has nine repayment options to select from, allowing you to customize further your loan and monthly payment amount, as well as the option to defer payments without penalty.

Marcus doesn’t charge origination, prepayment, or late fees on personal loans. If you miss a payment, you must pay the interest accrued during that period, and late or incomplete payments may impact your credit score.

Best Bad Credit Moving Loan
Avant Moving Loan Rates
On Avant's Secure Website
Avant Moving Loan
  • Est. APR
    9.95 - 35.95%
  • Min. Credit Score
  • Learn More
  • Loan Details

Avant offers unsecured loans from $2,000 to $35,000*, while state minimums vary. Your credit score and income decide your eligibility. Avant’s APRs range from 9.95% to 35.99%, with good credit scores getting the best rates. Avant offers loans ranging from 24 to 60 months, depending on your state and creditworthiness. You can, however, pay off your debt early without penalty. If approved, funds are generally available within two business days.

>> More: Avant Personal Loans Review

What Is a Moving or Relocation Personal Loan? 

Simply put, relocation loans are designed to pay relocating expenses. There are numerous types of relocation loans available, and they vary based on the bank or financial organization that provides them. Some relocation loans, for example, are designed to assist you with closing on a new home or paying a security deposit on a new apartment.

A moving loan is simply an unsecured personal loan for many financial institutions intended for moving expenditures. As long as you have a high credit score and a steady salary, you should be able to apply for a personal loan to pay the costs of your move. If your credit record has a few blemishes, you may still be able to apply for an unsecured personal loan, though you’ll likely pay higher interest rates as a result.

Whatever path you choose, a relocation loan can help alleviate some of the financial burdens that come with relocating. Loan terms, rates, and conditions can vary greatly, so it’s a good idea to look into several different lenders before signing on the dotted line.

Is It Smart to Take Out a Loan to Move? 

If you’re moving and lack the funds to cover your bills in total, a moving loan may be a viable choice. Because most moving loans have fixed interest rates, you may budget your monthly payments in advance.

However, it’s critical to keep in mind that you’ll be required to repay the loan with interest, and there may be other fees, such as origination fees. Therefore, before taking out a moving loan, it’s a good idea to consider the overall cost over the loan’s term.

Consider alternatives such as borrowing a truck, enlisting the assistance of friends and family, or deferring relocation until you have saved enough money. Additionally, if you’re relocating for work, check with your employer to see if they can assist with relocation costs.

Is It Possible to Get a Loan to Move?

Yes, it is possible to take out a loan to cover your moving or relocation expenses. A moving loan, also called a relocation loan, is an unsecured personal loan used to cover various relocation or moving expenses. A moving loan enables you to obtain the funds necessary to rent a moving truck, store your belongings, engage professional movers, purchase packing supplies, and obtain moving insurance.

How to Get a Moving Loan 

Borrowers with good credit and a low debt-to-income ratio have the best chance of qualifying for a low-interest relocation loan; however, requirements vary per lender. Building your credit and decreasing your debt-to-income ratio are both excellent methods to increase your chances of qualifying for a moving loan.

Here are the steps to getting a moving loan:

#1. Calculate How Much You Need 

The last thing you or your lenders want is for you to take out a personal loan and then be unable to repay it. While lenders typically perform due diligence to ensure you can repay the debt, it’s a good idea to run your figures to ensure everything works out.

Begin by calculating how much cash you’ll require, considering that some lenders impose a loan origination fee, which is deducted from your loan proceeds. Make sure you borrow enough to cover your expenses after the cost.

#2. Prequalify for a Moving Loan 

You can prequalify with a personal loan lender to determine the loan amount, APR, and monthly payments that you are eligible for. Because prequalifying has little to no effect on your credit score, you can evaluate offers from several lenders before committing to a loan.

#3. Compare Rates and Fees

Avoid taking the first offer you get; instead, browse around for the best interest rate. Compare lenders and loan types to see what you qualify for. Banks, credit unions, and online lenders commonly offer personal loans. Consider checking with your bank or credit union first.

>> More: See the Best Personal Loans

#4. Apply Online 

After doing your homework, choose the lender with the most fantastic offer for your needs and begin the application process. Depending on the lender, you may complete the entire application process online. Some online lenders also allow you to get prequalified with a soft credit check, which does not affect your credit score.

#5. Start Making Monthly Payments 

You must finalize the loan documentation and accept the terms after the lender notifies you that you have been accepted. Once you’ve completed this, you’ll typically receive your loan funds within a week – though some online lenders may be able to send it to you in as little as one or two business days.

Once you’ve been accepted, start keeping track of your payments and consider setting up automated payments from your checking account. If you set up auto payments on your account, specific lenders will give you a reduction in your interest rate.

Consider making an extra monthly payment in addition to your regular payment. Even if personal loans are less expensive than credit cards, paying off the loan early will save you money on interest. Even a minor increase in your monthly payments can assist you in accomplishing this.

How Can I Get Money for Moving Expenses? 

Below are some ways to get money to cover your relocation or moving expenses. They include:

Personal Loans for Moving Expenses

It’s best to pay for your relocation in advance, but this isn’t always possible. Applying for a personal loan is one of the best options to consider if you need to finance part or all your relocation. Personal loans are secured or unsecured loans that are paid back in regular installments over two to five years (known as installment debt).

Banks, credit unions, and online lenders can all help you get a personal loan. Online lenders usually have the most straightforward application processes, but they are generally considered faster than other types of loans. The approval process can sometimes be completed in a matter of days.

>> More: Explore the Different Types of Personal Loans

Credit Cards

A credit card (or numerous cards) may appear to be a convenient way to pay for your move swiftly. You might even be considering the possibility of earning rewards in the process. However, it isn’t always the best option.

Credit cards allow you to have revolving debt, which means that you don’t have to reapply for credit every time you need additional money, unlike personal loans. The trade-off is a higher interest rate. With a good credit score, you can get a credit card with an APR of 18% to 20%, whereas a personal loan can be closer to 10%.

Moving Grants

Lower-income individuals and families can apply for a relocation grant to help alleviate some of their financial stress. Both private nonprofit groups and publicly financed programs may offer these grants. Depending on where you intend to relocate, the programs may also differ.

New Employee Grant

Many employers provide stipends or reimbursements to cover relocation expenses depending on the occupation and conditions. Compensation in the form of temporary or permanent housing may also be offered.

The American Job Center administers the Trade Adjustment Assistance Program (TAA), which provides relocation assistance to persons who have lost jobs. To get these services, use the AJC service locator to identify a location near you or call their hotline.

Rural Housing Grants

The USDA’s Rural Housing Service has several programs that help single people and families in rural areas with grants and relocation loans. The moving company has formed partnerships with other nonprofit organizations and agencies to provide services. These grants and loans can be utilized to help with moving costs.

To apply for a loan, you must live within driving distance of a local agency office or center. Depending on the size of your family and the circumstances of your relocation, the application process will differ. Family size and income eligibility paperwork are also required for the application.


It is no longer news that moving can be pretty expensive. The costs are numerous, from boxes to trucks, expert movers to security deposits. People who are in the process of moving typically look for charities that can help with moving fees for various reasons.

The majority of charity programs that assist with moving costs are targeted at low-income individuals and families. The Salvation Army, Catholic Charities, and the YCWA are some of the well-known charitable organizations you can turn to for financial assistance to cover your moving costs.

Alternatives to Moving Loans 

Consider 0% APR Credit Score

If you’re deciding between a personal loan and a credit card, keep in mind that some credit cards offer promotional APRs of 0% for a limited time. If you can pay off your balance before the time finishes, this could save you money on interest. However, if you do not pay off your balance promptly, you may be subjected to significant interest costs.

To qualify for most 0% APR credit cards, you’ll need high or exceptional credit (a FICO score of at least 690). Your creditworthiness will also affect the ongoing interest rate paid after a card’s promotional period has ended.

Borrow From Friends and Family Members

If you need assistance moving, ask your family and friends to borrow some money. They may be prepared to offer gifts or low-interest loans. Just be careful not to put your relationships under too much stress.

Save Up Money

If you know you’ll be moving shortly, you may have enough time to save money and prevent a cash crunch. A high-yield savings account could help you earn extra money on accrued interest while you’re saving your money.

Summary: Best Moving and Relocation Loans

  • Upgrade: Best Overall Moving Loan
  • Upstart: Best Moving Loan with Flexible Requirements
  • Best Egg: Best Moving Loan for Fast Funding
  • LendingClub: Best Peer-to-Peer Moving Loan
  • Marcus by Goldman Sachs: Best Good Credit Moving Loan
  • Avant: Best Moving Loan for Bad Credit

Bottom Line: Best Moving Loans

Taking out a loan to cover relocation expenses is a frequent option to cover all expenditures involved. However, it is critical to ensure that the loan you choose is secure, reliable, and cheap. And that you have a clear plan in place to repay the loan by the due date.

Make sure to do a lot of research when looking for the best relocation loan for you. Examine the loan’s interest rate and overall cost, as well as the loan origination charge, payback period, and all other facts.

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Elijah Bishop
Elijah Bishop

Elijah A. Bishop is a Senior Personal Finance Writer who has been writing about real estate and mortgages for years. He has a Bachelors of Arts Degree in Creative writing from Georgia State University and has also attended the Climer School of Real Estate. He also holds a realtor license and has been in and out of the US mortgage industry as a loan officer. Bringing over 15 years of experience, Elijah produces content that analyzes ethnicities, race, and financial well-being. His areas of expertise are mortgages, real estate, and personal loans.