Sara Routhier, Managing Editor and Outreach Director, has professional experience as an educator, SEO specialist, and content marketer. She has over five years of experience in the insurance industry. As a researcher, data nerd, writer, and editor she strives to curate educational, enlightening articles that provide you with the must-know facts and best-kept secrets within the overwhelming world o...

Full Bio →

Written by Sara Routhier
Director of Outreach Sara Routhier

Joel Ohman is the CEO of a private equity-backed digital media company. He is a CERTIFIED FINANCIAL PLANNER™, author, angel investor, and serial entrepreneur who loves creating new things, whether books or businesses. He has also previously served as the founder and resident CFP® of a national insurance agency, Real Time Health Quotes. He also has an MBA from the University of South Florida. ...

Full Bio →

Reviewed by Joel Ohman
Founder, CFP® Joel Ohman

UPDATED: May 17, 2022

Advertiser Disclosure

Advertiser Disclosure: We strive to help you make confident loan decisions. Comparison shopping should be easy. We are not affiliated with any one loan provider and cannot guarantee quotes from any single provider. Our partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different companies please enter your ZIP code on this page to use the free quote tool. The more quotes you compare, the more chances to save.

Editorial Guidelines: We are a free online resource for anyone interested in learning more about loans. Our goal is to be an objective, third-party resource for everything loan related. We update our site regularly, and all content is reviewed by experts.


  • A moving loan is an unsecured personal loan that can cover moving expenses
  • Pros of a moving loan include lower interest rates, fast approval times, no collateral, flexible loan amounts, and fixed payments
  • Cons of a moving loan include potential long-term debt, fees, and higher interest rates for those with bad credit

Moving loans are a type of personal loan that can help cover many different types of moving expenses. If you’re moving, you may want to consider using one if you don’t have all of your funds saved up. However, be aware of the disadvantages of moving loans as well.

Below, we’ll cover the basics of a moving loan, the pros and cons, and your alternatives. Before you begin reading, enter your ZIP code above to find an affordable lender near you.

What is a moving loan?

A moving loan, or a relocation loan, is an unsecured personal loan that you can use to pay for moving expenses, such as:

  • Security deposit and rent
  • Furniture
  • Moving truck
  • Moving insurance
  • Hotel stays
  • Packing supplies

The average cost of a local move is $1,250. Moving loans are typically paid back over a few years in installment payments that include interest.

Apply for a Loan

Enter your ZIP code below to view lenders with cheap loan rates.

secured lock Secured with SHA-256 Encryption

What are the pros and cons of a moving loan?

The pros of a moving loan include:

  • Lower interest rates – If you have a good credit history, you may be able to get a lower interest rate for a personal loan than for credit cards or other types of financing.
  • Fast approval times – If you need to fund some last-minute moving expenses, or you’re just moving without much notice, you may be able to find a lender that will fund your loan within a week or less.
  • No collateral needed – Many moving loans don’t require you to use your assets as collateral, meaning you won’t lose them if you default on your payments.
  • Flexible loan amounts – Whether you only need enough for your security deposit or you need to fund your entire move, it’s highly likely you’ll be able to find a lender who can offer you the amount you need.
  • Fixed payments – When you begin repaying your loan, your payments are likely to be fixed (meaning they will be the same amount every month), which can make budgeting less stressful.

The cons of getting a moving loan are:

  • Potential long-term debt – Depending on the terms of your loan, you could be repaying your moving expenses for as long as five to seven years.
  • Fees – Some lenders charge extra fees. For example, your lender may charge an origination fee deducted from the loan as a percentage of the loan amount.
  • High rates for those with bad credit – Moving loans for bad credit can be expensive. You may have an interest rate that is as high as 30%.

If you already have other debt, or you don’t have a credit score over 629, you may want to explore other options besides a moving loan.

What alternatives to a moving loan do I have?

Besides moving loans, you may be able to find alternatives that will help you pay for your moving expenses.

Credit unions may extend credit to those with fair credit with relatively lower interest rates than for a loan through a bank or other lender. Others may consider using credit cards, but interest rates may be higher unless you qualify for a 0% promotional period.

If you’re moving for work, your employer may offer programs to help move out of state. Relocation packages may help pay at least some of your moving expenses, and you may not need to pay it back.

You could also consider borrowing money from family or friends, but you should be careful with this option if you are afraid of risking the relationship.

Another option is to sell some of the stuff you don’t want to bring with you. Selling your things would give you some money and may help reduce moving costs.

If you’ve decided that a moving loan is right for you, enter your ZIP code below to compare loan rates from lenders in your area.