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Moving loans

Find out about moving costs in Canada and learn how you can finance your relocation with a loan.

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Need financing for moving expenses?

FlexMoney Personal Loan logo
  • Rates from 18.90% - 46.93%
  • Loan term from 6 - 60 months
  • Pay off loan anytime
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Name Product Interest Rate Loan Amount Loan Term Requirements Credit Score Link
LoanConnect Personal Loan
Secured from 1.90%, Unsecured from 5.75%-46.96%
$500 - $50,000
3 - 120 months
Currents debts must total less than 60% of income
Min. credit score: 300
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An online broker who helps inform clients towards better finances. Get pre-approved by different lenders for unsecured or secured loans in 5 minutes with any credit score.
goPeer Personal Loan
8.00% - 31.00%
$1,000 - $25,000
36 - 60 months
Recommended income of $40,000 /year
Min. credit score: 600
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Canada's first regulated consumer peer-to-peer lending platform offering unsecured loans. Connects creditworthy Canadians looking for a loan with Canadians looking to invest. goPeer strives to offer the most competitive interest rates. Apply in minutes and get a response within 24 hours.
Spring Financial Personal Loan
17.99% - 46.96%
$500 - $15,000
9 - 48 months
Min. income of $1,800 /month, 3+ months employed
Min. credit score: 400
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An online lender offering unsecured personal loans and credit builder loans. Those filing for bankruptcy or a consumer proposal can also apply. If you're not eligible for an unsecured loan, you may be offered a loan to help rebuild your credit.
ConsumerCapital Personal Loan
19.99% - 34.99%
$1,500 - $12,500
24 - 60 months
Min. income of $1,900 /month, 6+ months employed
Min. credit score: 600
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An online lender that provides fast unsecured personal loans. Complete an application in less than 10 minutes and get a decision within 24 hours. For faster loan approval, complete the Flinks bank integration in the app.
SkyCap Financial Personal Loan
12.99% - 39.99%
$500 - $10,000
9 - 36 months
Min. income of $1,200 /month, stable employment
Min. credit score: 550
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An online lender offering unsecured personal loans to borrowers with a wide range of credit scores. Apply in less than 5 minutes and if approved, receive financing in as little as 24 hours.
FlexMoney Personal Loan
18.90% - 46.93%
$500 - $15,000
6 - 60 months
Min. income of $2,000 /month, 3+ months employed
Min. credit score: 500
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An online lender offering flexible unsecured loans. Apply in less than 10 minutes and if approved, receive financing in as little as 24 hours. Pay off your loan at any time.
Loans Canada Personal Loan
Secured from 2.00%, Unsecured from 8.00% to 46.96%
$300 - $50,000
3 - 60 months
No min. income or employment requirements
Min. credit score: 300
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An online broker with the largest lender network in Canada. Get matched for free with lenders offering both unsecured and secured loans through one quick application regardless of your financial situation.
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Mogo Personal Loan
9.90% - 46.96%
$200 - $35,000
6 - 60 months
Min. income of $13,000 /year
Min. credit score: 500


Mogo offers a 100-day money-back guarantee. If you're not happy with your loan, pay back the principal and get your 100 days of paid interest and fees back.
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An online lender who aims for a hassle-free process through same-day unsecured loan approval and funding. Get a loan fast and track your credit score for free.
Fairstone Personal Loan (Unsecured)
26.99% - 39.99%
$500 - $25,000
6 - 60 months
Able to make monthly repayments on your loan
Min. credit score: 560
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An online lender with a team dedicated to professional service. Get a quote for an unsecured loan without impacting your credit score. Receive funds within as little as 24 hours. No prepayment fees.
Fairstone Personal Loan (Secured)
19.99% - 23.99%
$5,000 - $50,000
60 - 120 months
Must be a homeowner
Min. credit score: 560
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Use your home equity to get a secured loan up to $50,000 with flexible repayment options and a long loan term. Get a quote without impacting your credit score.
Loan Away Personal Loan
19.90% - 45.90%
$1,000 - $5,000
6 - 36 months
No min. income or employment requirements
Min. credit score: 300
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A lender that approves unsecured loans in as little as 20 minutes. Get affordable monthly repayments with any credit score.
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What are average moving costs in Canada?

The cost of relocating to a new city varies wildly depending on where you’re moving from, where you’re moving to, the type of residence you’re looking for, the amount of belongings you own and whether you decide to hire a moving company or do it all yourself. Moving across Canada is typically the most costly – especially if you need to arrange for your car or furniture to be shipped.

Example moving costs: Toronto, ON to Edmonton, AB

Here is an example of the basic costs to move a typical 3 bedroom family home from Toronto to Edmonton, without hiring a professional moving company:

Truck rental$3700
Movers (2 people for 4 hours)$500
Moving supplies$500
Change of address$300
Setup costs$1,500
Total:$6,500

The costs in this table are estimates only and current as of June 2021.

What other movings costs should I consider?

To discover how much it might cost you to move between locations, here is a list of potential costs that could be specific to your situation:

  • Auto shipping. Depending on how far you’re moving, you could pay anywhere from $500 to $1,500 or more to ship your car to a new home.
  • Rental security deposit. If you’re renting, depending on the location and size of place, you might need to put up $700 to $4,000 before you move in.
  • Furniture shipping. It can cost $400 to $5,000 or more to move your furniture.
  • Moving truck. Vehicles range from small moving vans to 26-foot trucks, with prices to match. Many companies charge daily or weekly, plus mileage and fees and any insurance you opt for.
  • Gas. The size of your moving vehicles determine what you’ll pay, but fuel to move your things can cost upward of several hundred dollars.
  • Hotel stays. If the move to your new home is a long distance, you may need to stop for a rest along the way, or even get a hotel for a few days. Depending on the quality of the hotel, expect to pay anywhere from $80 to several hundred dollars a night.
  • Final cable, internet and utility bills. If you’re locked into a plan, your providers could require fees of $100 to $200 to end your contract or cut off services.
  • Realtor or broker fees. Whether helping you search for a temporary rental or find your ultimate home, real estate experts can charge from $1,000 to $10,000 for their services.

Can I take out a moving loan?

Yes. Relocating to a new city or town is a common reason people take out personal loans. You can apply with most personal lenders and receive approval within just minutes sometimes, which means you can learn about potential rates and costs of your loan over the long term. Compare the rates of two or three options to narrow down financing that can cover the full expected cost of your move while keeping your interest low and close to your budget.

Personal loans are generally unsecured, meaning your interest rates are based on a few factors including your credit score, your income and your ability to make your repayments, among other factors.

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How else can I pay for a move?

  • Budget. A cost-effective way to cover your move is to create a budget. Multiple online resources can help you calculate the costs of your move, allowing you to put any excess income toward these expenses in a separate account, if needed. Comparing exactly what you’ll need against how much you’ve saved can help you nail down whether you need a small loan or a large one – saving you money in the long run.
  • Company relocation assistance. If you’re upgrading to a new job or are transferred to a new office, find out if your company covers any moving costs.
  • Consider a line of credit. A line of credit can provide you with an ongoing and convenient way to withdraw funds whenever you need to. You can use the funds to make purchases or keep it accessible should you need it in the case of an emergency. The flexibility of a line of credit allows you to withdraw funds up to a pre-determined limit. Interest is typically only charged on what you actually borrow and owe, not on the entire credit limit.

Compare lines of credit

Name Product Interest Rate Loan Amount Loan Term Requirements Credit Score Link
Mogo Mini Line of Credit
47.42%
$1,000 - $3,500
No end dates
Min. income of $13,000 /year
Min. credit score: 500
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An online lender offering a flexible line of credit up to $3,500. Apply online and get pre-approved in just 3 minutes. Non-employment income also accepted. Pay back the principal loan amount at any time.
Cash Money Line of Credit
46.93%
$100 (in store), $500 (online) - $10,000
No end dates
No min. income or employment requirements
Min. credit score: 560
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Cash Money offers line of credit loans up to $10,000 for AB, BC, NS, ON and SK residents. (Residents of MB or NB can apply in-store only.)
LendDirect Line of Credit
19.99% - 46.93%
$100 - $15,000
No end dates
Min. income of $1,500 /month
Min. credit score: 560
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Borrow up to $15,000, based on your income and credit history, with a line of credit from LendDirect.
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3 tips for covering moving expenses

  1. Plan ahead. Estimate how much a move will cost you to help determine your expenses and budget. If you have time to save, set money aside for paying your final bills, covering any deposits or preparing a place to stay temporarily during or after the move.
  2. Shop for quotes. By comparing moving companies, you can save money by finding the exact service that meets your needs. The cheapest move is likely the one that lets you rent a truck and pack and drive your belongings yourself. If you can’t do that, companies that charge by weight or total truck square footage can offer you rates and fees to compare.
  3. Sell your things. If you have excess furniture or are moving to a smaller home, consider selling items you don’t need to save a little extra money to cover your final bills. You might even find that it’s cheaper to buy new appliances on arrival than pay the hefty costs that come with moving them.

Can I write off moving expenses on my tax forms?

Yes. From the Government of Canada’s official website, on Line 219 of your tax return, you can claim eligible moving expenses if:

  • You moved and established a new home to work or run a business at a new location; or
  • You moved to be a student in full-time attendance in a post-secondary program at a university, college or other educational institution.

To qualify, your new home must be at least 40 kilometres (by the shortest usual public route) closer to your new work or school. Speak to a tax professional about your specific move to determine if it’s eligible for deductions.

How to spot a moving company scam

The prospect of hiring strangers to transport your things can be frightening, but you can protect yourself against scams by spotting red flags. A moving company will also give you important documents to keep should problems arise:

Bottom line

Moving isn’t easy, but it doesn’t have to cost you an arm and a leg. If you need some extra funds to help you relocate, compare personal loans to fund the next chapter of your life.

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