The most common type of moving loan is an unsecured personal loan. You can typically use these for any legitimate expense, including moving costs, such as renting a truck or hiring professionals. Generally, moving loans are best for expensive moves — think over $5,000. Otherwise, you may want to consider other options to cover your moving or relocation costs.
7 best personal loans for moving or relocating
Whether you’ve decided to move for a change of scenery or are relocating for work, here are our top picks for moving and relocation loans.
Aside from financing your move, SoFi offers a wide range of career-boosting perks like networking events and financial and educational resources that can help you get your professional start in a new town. You can also qualify based on a new job offer, as long as it begins within 90 days of applying. SoFi offers loans to US citizens, permanent residents and some non-permanent residents, depending on immigration status. But, while SoFi operates in all states, personal loans are only available in certain states.
Min. credit score
680
APR
9.49% to 29.99% fixed APR
Loan amount
$5,000 to $100,000
Available in all states
Aside from financing your move, SoFi offers a wide range of career-boosting perks like networking events and financial and educational resources that can help you get your professional start in a new town. You can also qualify based on a new job offer, as long as it begins within 90 days of applying. SoFi offers loans to US citizens, permanent residents and some non-permanent residents, depending on immigration status. But, while SoFi operates in all states, personal loans are only available in certain states.
Pros
Accepts job offers start date within 90 days
High borrowing cap of $100,000
Accepts some non-permanent residents
Cons
Rates as high as 29.99%
Not available in all states
Loans start at a high $5,000
Loan amount
$5,000 to $100,000
APR
9.49% to 29.99% fixed APR
Interest Rate Type
Fixed
Min. credit score
680
Turnaround Time
Up to 2 business days
Loan Term
2 to 7 years
Fixed rates from 8.99% APR to 29.99% APR. APR reflects the 0.25% autopay discount and a 0.25% direct deposit discount. SoFi Platform personal loans are made either by SoFi Bank, N.A. or , Cross River Bank, a New Jersey State Chartered Commercial Bank, Member FDIC, Equal Housing Lender. SoFi may receive compensation if you take out a loan originated by Cross River Bank. These rate ranges are current as of 3/06/23 and are subject to change without notice. Not all rates and amounts available in all states. See SoFi Personal Loan eligibility details at https://www.sofi.com/eligibility-criteria/#eligibility-personal. Not all applicants qualify for the lowest rate. Lowest rates reserved for the most creditworthy borrowers. Your actual rate will be within the range of rates listed above and will depend on a variety of factors, including evaluation of your credit worthiness, income, and other factors. Loan amounts range from $5,000– $100,000. The APR is the cost of credit as a yearly rate and reflects both your interest rate and an origination fee of 9.99% of your loan amount for Cross River Bank originated loans which will be deducted from any loan proceeds you receive and for SoFi Bank originated loans have an origination fee of 0%-7%, will be deducted from any loan proceeds you receive. Autopay: The SoFi 0.25% autopay interest rate reduction requires you to agree to make monthly principal and interest payments by an automatic monthly deduction from a savings or checking account. The benefit will discontinue and be lost for periods in which you do not pay by automatic deduction from a savings or checking account. Autopay is not required to receive a loan from SoFi. Direct Deposit Discount: To be eligible to receive an additional (0.25%) interest rate reduction on your Personal Loan (your “Loan”), you must set up Direct deposit with a SoFi Checking and Savings account offered by SoFi Bank, N.A., or enroll in SoFi Plus by paying the SoFi Plus Subscription Fee, all within 30 days of the funding of your Loan. Once eligible, you will receive this discount during periods in which you have enabled Direct Deposit to an eligible Direct Deposit Account in accordance with SoFi’s reasonable procedures and requirements to be determined at SoFi’s sole discretion, or during periods in which SoFi successfully receives payment of the SoFi Plus Subscription Fee. This discount will be lost during periods in which SoFi determines you have turned off Direct Deposit to your Checking and Savings account or in which you have not paid for the SoFi Plus Subscription Fee. You are not required to enroll in Direct Deposit or to pay the SoFi Plus Subscription Fee to receive a Loan.
LightStream is a great option if you're looking to cut back on the cost of your move. It offers some of the most competitive rates out there, starting as low as 6.94% with autopay. Get a better offer from another lender, and it might beat that rate — as long as it meets certain terms and conditions. It also has an unusually high 0.5% autopay discount to help you save even more. But it only accepts borrowers with good to excellent credit and doesn't offer the option to prequalify like most lenders.
Min. credit score
Good to excellent credit
APR
6.94% to 25.79%
Loan amount
$5,000 to $100,000
Not available in: Iowa, West Virginia
LightStream is a great option if you're looking to cut back on the cost of your move. It offers some of the most competitive rates out there, starting as low as 6.94% with autopay. Get a better offer from another lender, and it might beat that rate — as long as it meets certain terms and conditions. It also has an unusually high 0.5% autopay discount to help you save even more. But it only accepts borrowers with good to excellent credit and doesn't offer the option to prequalify like most lenders.
Pros
Might beat confirmed offers from competitors
High 0.5% autopay discount
Offers loans up to $100,000
Cons
No option to get preapproved
No customer service phone number
Loans start at a high $5,000
Loan amount
$5,000 to $100,000
APR
6.94% to 25.79%
Interest Rate Type
Fixed
Min. credit score
Good to excellent credit
Turnaround Time
As soon as same day
Loan Term
24 to 240 months
Your loan terms, including APR, may differ based on loan purpose, amount, term length, and your credit profile. Lowest rates require excellent credit. At least 27% of approved applicants applying for the lowest rate qualified for the lowest rate available based on data from 10/01/2024 to 12/31/2024. Rate is quoted with AutoPay discount. AutoPay discount is only available prior to loan funding. Rates without AutoPay are 0.50% points higher. Subject to credit approval. Conditions and limitations apply. Advertised rates and terms are subject to change without notice.
Payment example: Monthly payments for a $25,000 loan at 6.49% APR with a term of 3 years would result in 36 monthly payments of $766.11.
Maximum APR for a LightStream loan is 25.79%. Loan terms range from 24 - 240 months depending on the loan type.
While Upstart looks at your credit score, it also gives more weight to your career and level of education. This factor can help you qualify for a more competitive rate on a moving loan if you've spent more time building on your professional skills than your credit history. It's also a good option to help you build credit, as it reports to the three major credit bureaus. But rates can run as high as 35.99%, it may charge origination fees up to 12% and it only offers two loan terms.
Min. credit score
300
APR
6.7% to 35.99%
Loan amount
$1,000 to $50,000
Not available in: Connecticut, Iowa, Maine, Maryland, Nevada, New York, Oklahoma, Oregon, West Virginia
While Upstart looks at your credit score, it also gives more weight to your career and level of education. This factor can help you qualify for a more competitive rate on a moving loan if you've spent more time building on your professional skills than your credit history. It's also a good option to help you build credit, as it reports to the three major credit bureaus. But rates can run as high as 35.99%, it may charge origination fees up to 12% and it only offers two loan terms.
This lender doesn't have any hard-and-fast credit requirements and could offer relatively competitive deals if your credit score is poor. Especially if you opt to secure your loan with collateral or add a cosigner. You can get your money as soon as the same day, though you may have to stop by a branch to sign your documents. But you can likely find a better deal if you have fair credit or higher. Rates start at a high 18% APR, including an origination fee of up to 10%.
Min. credit score
Not specified
APR
18% to 35.99%
Loan amount
$1,500 to $20,000
Not available in: Alaska, Arkansas, Connecticut, Massachusetts, Rhode Island, Vermont
This lender doesn't have any hard-and-fast credit requirements and could offer relatively competitive deals if your credit score is poor. Especially if you opt to secure your loan with collateral or add a cosigner. You can get your money as soon as the same day, though you may have to stop by a branch to sign your documents. But you can likely find a better deal if you have fair credit or higher. Rates start at a high 18% APR, including an origination fee of up to 10%.
Pros
No minimum credit requirements
Fast turnaround
Relatively low cost compared to installment loans
Cons
High rates compared to other personal loans
May require a stop at a branch
Origination fee of 1% to 10%
Loan amount
$1,500 to $20,000
APR
18% to 35.99%
Interest Rate Type
Fixed
Min. credit score
Not specified
Turnaround Time
As soon as one hour
Loan Term
24, 36, 48 or 60 months
* OneMain Disclosures:
Not all applicants will be approved. Loan approval and actual loan terms depend on your ability to meet our credit standards (including a responsible credit history, sufficient income after monthly expenses, and availability of collateral). If approved, not all applicants will qualify for larger loan amounts or most favorable loan terms. Larger loan amounts require a first lien on a motor vehicle no more than ten years old, that meets our value requirements, titled in your name with valid insurance. Loan approval and actual loan terms depend on your state of residence and your ability to meet our credit standards (including a responsible credit history, sufficient income after monthly expenses, and availability of collateral). APRs are generally higher on loans not secured by a vehicle. Highly-qualified applicants may be offered higher loan amounts and/or lower APRs than those shown above. OneMain charges origination fees where allowed by law. Depending on the state where you open your loan, the origination fee may be either a flat amount or a percentage of your loan amount. Flat fee amounts vary by state, ranging from $25 to $500. Percentage-based fees vary by state ranging from 1% to 10% of your loan amount subject to certain state limits on the fee amount. Visit omf.com/loanfees for more information. Loan proceeds cannot be used for postsecondary educational expenses as defined by the CFPB’s Regulation Z such as college, university or vocational expense; for any business or commercial purpose; to purchase cryptocurrency assets, securities, derivatives or other speculative investments; or for gambling or illegal purposes.
Borrowers in these states are subject to these minimum loan sizes: Alabama: $2,100. California: $3,000. Georgia: Unless you are a present customer, $3,100 minimum loan amount. North Dakota: $2,000. Ohio: $2,000. Virginia: $2,600.
Borrowers (other than present customers) in these states are subject to these maximum unsecured loan sizes: North Carolina: $7,500. An unsecured loan is a loan which does not require you to provide collateral (such as a motor vehicle) to the lender.
Example Loan: A $6,000 loan with a 24.99% APR that is repayable in 60 monthly installments would have monthly payments of $176.07.
Time to Fund Loans: Funding within one hour after closing through SpeedFunds must be disbursed to a bank-issued debit card. Disbursement by check or ACH may take up to 1-2 business days after loan closing.
OppLoans doesn't offer personal loans, but it does provide installment loans that you can use for moving expenses, and it accepts borrowers with bad credit. Plus, it only requires a soft credit check, so it won't hurt your credit to apply. But its loan amounts aren't as high as some, with a maximum loan of $4,000. Also, rates start at 160%, so only choose this lender if you don't qualify for a better deal and have a plan to repay it early.
Loan amount
$500 - $4,000
Turnaround time
As soon as the same business day
Online application
Yes
Not available in: Colorado, Connecticut, Georgia, Iowa, Maryland, Massachusetts, New York, South Dakota, Vermont, West Virginia
OppLoans doesn't offer personal loans, but it does provide installment loans that you can use for moving expenses, and it accepts borrowers with bad credit. Plus, it only requires a soft credit check, so it won't hurt your credit to apply. But its loan amounts aren't as high as some, with a maximum loan of $4,000. Also, rates start at 160%, so only choose this lender if you don't qualify for a better deal and have a plan to repay it early.
In general, self-employed borrowers may have a harder time qualifying for moving loans. But Avant welcomes self-employed workers with moving or relocation loans up to $35,000. It also considers fair credit borrowers with scores as low as 550. You can prequalify with a soft credit check and receive your funds as soon as the next day. But it does charge origination fees as high as 9.99%, and rates can reach as high as 35.99% if your credit isn't great.
Min. credit score
550
APR
9.95% to 35.99%
Loan amount
$2,000 to $35,000
Not available in: Iowa, Kentucky, Massachusetts, Michigan, Montana, Virginia, West Virginia
In general, self-employed borrowers may have a harder time qualifying for moving loans. But Avant welcomes self-employed workers with moving or relocation loans up to $35,000. It also considers fair credit borrowers with scores as low as 550. You can prequalify with a soft credit check and receive your funds as soon as the next day. But it does charge origination fees as high as 9.99%, and rates can reach as high as 35.99% if your credit isn't great.
Pros
Accepts self-employed income
Considers credit scores as low as 550
Funds as soon as the next day
Cons
Origination fees up to 9.99%
Rates as high as 35.99%
Not available in all states
Loan amount
$2,000 to $35,000
APR
9.95% to 35.99%
Interest Rate Type
Fixed
Min. credit score
550
Turnaround Time
As soon as the next business day
Loan Term
24 to 60 months
Personal loans from $2,000–$35,000. If approved, the actual loan amount, term, and APR that a customer qualifies for may vary based on credit determination and other factors. Avant branded credit products are issued by WebBank, member FDIC.
Laurel Road has a special personal loan program for medical and dental residents or fellows that can help to cover residency relocation costs. Depending on your year in training, you can borrow up to $80,000, with no origination fees or prepayment penalties. And you can partially defer payments to pay as little as $25 a month while you're enrolled in the program. The downside is that rates start higher than you'd typically find with a student loan provider.
Min. credit score
680
APR
9.99% to 24.5%
Loan amount
$5,000 to $80,000
Available in all states
Laurel Road has a special personal loan program for medical and dental residents or fellows that can help to cover residency relocation costs. Depending on your year in training, you can borrow up to $80,000, with no origination fees or prepayment penalties. And you can partially defer payments to pay as little as $25 a month while you're enrolled in the program. The downside is that rates start higher than you'd typically find with a student loan provider.
Pros
Pay as little as $25 a month
Loans up to $80,000
Accepts cosigners
Cons
High starting rate of 9.99%
Only 2 loan terms
Loans start at $5,000
Loan amount
$5,000 to $80,000
APR
9.99% to 24.5%
Interest Rate Type
Fixed
Min. credit score
680
Turnaround Time
As soon as 2 business days
Loan Term
3, 4, 5 or 7 years
Min. credit score
680
APR
9.99% to 24.5%
Loan amount
$5,000 to $80,000
Methodology: How we picked the best lenders
Finder loan experts compare dozens of lenders before narrowing down the best personal loans for moving and relocation in the current market, and we regularly review our selections. Factors we consider include loan amounts, interest rates, fees, reputation and customer reviews.
Factors weighed in our methodology for the best moving loans include:
We currently don't have that product, but here are others to consider:
How we picked these
What is the Finder Score?
The Finder Score crunches 6+ types of personal loans across 50+ lenders. It takes into account the product's interest rate, fees and features, as well as the type of loan eg investor, variable, fixed rate - this gives you a simple score out of 10.
While there may be some variations on the prequalification process, it should go something like this:
Fill out the online form with your basic information.
Wait while the lender conducts a soft credit check.
Receive loan offers if you prequalify.
Review rates and loan terms.
Proceed with formal approval and a hard credit check if rates and terms are acceptable.
Pros and cons of using a moving loan
A moving loan can help ensure your relocation costs are fully covered on time, but it’s not always the best choice.
Pros
Cheaper than credit cards. Credit card rates usually run from 15% to 22% APR. If you can’t pay off your balance right away, a loan is usually less expensive.
No collateral required. While some lenders might offer secured loans, you typically don’t have to put any assets on the line to get most moving loans.
Fast funding. Many online lenders offer financing within a day or two — or even the same day if you apply early enough on a business day.
High loan amounts. Some lenders that offer moving and relocation loans provide amounts up to $100,000.
Cons
Adds to your monthly expenses. A moving loan adds to your debt and monthly expenses. It can also make it harder to qualify for other types of financing, like a car loan, until you pay it off.
Potential origination fees. While it’s possible to find a loan with no fees, many lenders charge an origination fee up to around 10% of the loan amount.
High rates and few options for bad credit. With credit scores below 580, you could easily end up paying a rate as high as 36% APR, if you qualify for a loan at all.
May require a job. If you’re moving to start a job, you might not qualify for a personal loan unless you already have an offer.
What costs can I cover with a relocation loan?
There are no limits to what costs you can cover with a relocation loan — as long as it’s legal. Depending on how you do it and how far you’re going, moving can cost you as little as $50 if you just need to rent a truck or over $10,000 if you have a big cross-country move. Here are some common expenses you might want to consider when calculating your full cost.
Boxes and packing materials
Hiring movers
Security deposit
Shipping your car
Shipping furniture
Moving truck rental
Gas
Storage unit rentals
Moving insurance
Hotel stays
Realtor or broker fees
Living expenses while you wait to start a job
Alternatives to moving and relocation loans
A personal loan isn’t the only financing solution you can look into. Consider these options as well.
New credit cards. Many credit cards have 0% APR promotional periods on purchases for up to 12 months or more. If you can pay off your moving expenses within that time, this is one of the least expensive options.
Save up. To avoid getting into debt, plan ahead by coming up with an estimate of your moving costs to help you set a savings goal.
Company relocation assistance. If you’re upgrading to a new job or transferring to a different location, find out if your company covers any part of your moving costs.
Use a service like OfferUp. Sell whatever you don’t plan on taking with you to help finance your moving costs. You could also try Craigslist or Facebook Marketplace or throw a yard sale.
Friends and family loans. Ask friends and family if they’d be willing to lend you money for the move. If you’re uncomfortable going to one or two people, consider setting up a campaign on a crowdfunding site where more people can chip in small amounts.
Bottom line
Moving isn’t easy, but it doesn’t have to cost you an arm and a leg. If you need a boost to your budget when relocating, compare rates for personal loans to fund the next chapter of your life.
Frequently asked questions
Are there special residency relocation loans for medical professionals?
Yes, some lenders specialize in residency relocation loans. Not only can these types of loans help with relocation costs for medical professionals, they can also be used to pay for other expenses, such as board certification exams and licensing. And, unlike most student loans, residency relocation loans are disbursed directly to the borrower.
Can I get a relocation loan even if I’m not changing jobs?
You might be able to, but it depends on the lender. Some lenders offer relocation loans only to people who are relocating for business or employment. But you can always take out a general-purpose personal loan, which usually doesn’t require a specific reason to qualify.
Is taking out a loan to move a good idea?
It depends on your situation. If you’ll go deep into credit card debt to pay for moving expenses, a personal loan can be a cheaper and more sensible option. But if you can manage the move without going into debt — such as using your savings or finding ways to cut costs — that’s usually the best way to go.
Can you get a moving loan with bad credit?
Yes. It’s easier to get a moving or relocation loan if you have good to excellent credit, but some lenders accept borrowers with bad credit. However, you’re more likely to pay origination fees and higher rates. Offering collateral or adding a cosigner to your application can help you qualify for lower APRs and increase your chances of approval.
Lacey Stark is a freelance personal finance writer for Finder, specializing
in banking, loans, investing, estate planning, and more. She has 20
years of experience writing and editing for magazines, newspapers, and
online publications. A word nerd from childhood, Lacey officially got her
start reporting on live sporting events and moved on to cover topics
such as construction, technology, and travel before finding her niche in
personal finance. Originally from New England, she received her
bachelor’s degree from the University of Denver and completed a
postgraduate journalism program at Metropolitan State University also
in Denver. She currently lives in Chicagoland with her dog Chunk and
likes to read and play golf. See full bio
A review of Pennie Financial, a company that appears to be a personal loans marketplace but likely shares your information with debt settlement partners.
Loan and grant opportunities for people with a felony, what you need to qualify for loans and other resources for people who were formerly incarcerated.
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