Moving Loans

Make the move with the right loan

A moving loan is a personal loan used to cover the expenses of relocating—whether you're moving across the country, to a new city, or just across town. If you need to move and are considering using a credit card to cover your expenses, a moving loan may be a better option. Here’s why.

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What is a moving loan?

Also known as a relocation loan, a moving loan is simply a personal loan that you take out to cover moving expenses. Like any other installment loan, you’ll receive your funds in a lump sum, which you’ll then pay back via a series of monthly payments, called installments.

What can I use a moving loan for?

Lenders don’t often place restrictions on what you can use personal loans for. That said, most borrowers use moving loans to cover major relocation expenses. These include:

• Hiring a moving company
• Moving truck rentals
• Professional movers’ fees
• Shipping a vehicle
• Moving insurance
• Covering a security deposit on your new home

Is a moving loan right for you?

A moving loan might make sense if:

• You're relocating for a new job or life opportunity
• You’re covering multiple moving-related expenses at once
• You want to avoid high-interest credit card charges
• You need upfront cash but want to repay on a predictable schedule

If the cost of moving is larger than your current budget can comfortably handle, a personal loan can provide breathing room during the transition.

Pros of moving loans:

• Flexibility: Because a moving loan is a type of personal loan, you can use it for almost anything—including moving costs, new appliances, or even debt consolidation if you have leftover funds. Please note that loan proceeds may not be used for postsecondary educational expenses, including refinancing federal or private student loans.
• Fast loan application process: It’s possible to fill out an online application and get approved for a moving loan as soon as the same or next business day.
• Set loan terms: Unlike credit cards, personal loans must be paid off on a set schedule, which can make budgeting easier. Most borrowers will find loan offers with a range of repayment terms, usually one to five years.
• Low interest rates: Personal loans lenders tend to charge lower rates than credit card companies or other short-term lenders.

Cons of moving loans:

• Monthly payments: Taking on new debt will leave you with a repayment burden—especially if you have bad credit and don’t qualify for low loan rates. If you’re moving for a new job, see if your employer provides a moving stipend.
• Credit requirements: You’ll typically need an excellent credit score to qualify for the highest loan amounts and lowest rates. Review your lender’s eligibility requirements, then check your credit report.
• Fees: Some lenders charge origination fees, prepayment penalties, and other costs.
• Minimum loan amount: Some lenders require you to borrow a minimum loan amount.

Should I use a credit card or a moving loan?

If you can pay off your balance quickly, a credit card might work for smaller moving costs. But for larger expenses you’ll need more time to repay, a moving loan (a type of personal loan) usually offers a lower, fixed rate and predictable payments.

Smart moving tips (and when a loan can help)

• Get multiple quotes from movers to avoid overborrowing
• Plan for upfront housing costs—rent, deposits, and utility setup
• Track all moving expenses in a spreadsheet or budgeting app
• Use a loan if it helps you relocate safely, smoothly, and without relying on high-interest debt

FAQs about moving loans

Can I use a personal loan to pay for a move?

What’s better: a personal loan or credit card for moving?

How does the personal loan process work?

Can I get a personal loan if I have bad credit?

How to get a moving loan

You can get a moving loan by comparing lenders, checking your rate, and applying online or through a bank. Most lenders require good credit, proof of income, and basic documents. Once approved, you’ll sign your agreement and receive funds—often within a few days.

Loan proceeds may not be used for postsecondary educational expenses, including refinancing federal or private student loans.