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Personal Loans for Moving and Relocation in 2023

Updated on December 21, 2022
Tina Chen
Written by 
Assigning Editor
NerdWallet
Edited by 
Fact Checked
Tina Chen
Written by 
Assigning Editor
NerdWallet
Edited by 
Fact Checked

Moving can be equal parts stressful and expensive. While you may not be able to eliminate the stress, a moving loan can help cover your costs.

A move across town costs an average of about $1,710, while a cross-country relocation costs an average of about $4,820, according to HomeAdvisor. If you don’t have savings for a move, a personal loan may provide fast cash and lower rates than some credit cards.

These lenders offer moving and relocation loans, whether you have good or bad credit, need fast funding or are looking for a small loan.

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Many or all of the products on this page are from partners who compensate us when you click to or take an action on their website, but this does not influence our evaluations or ratings. Our opinions are our own.

Rocket Loans: Best for Moving loans with fast funding

RocketLoans
4.5

Est. APR

8.71-29.99%

Loan amount

$2K-$45K

Min. credit score

640

Check Rate
on NerdWallet

  • Qualifications:

    Key Facts:

    Rocket Loans personal loans stand out for fast funding, but they lack some features other lenders offer.

    Qualifications:
    • Minimum credit score: 640.
    • Minimum annual gross income: $24,000.
    • Maximum debt-to-income ratio: 40% or 70% including a mortgage.
    • Minimum credit history: 2 years.
    • Must be at least 18 years old.
    • Must be a U.S. resident living in one of the states where the lender does business.
    Available Term Lengths:3 to 5 years
    Fees:
    • Origination fee: Up to 9%.
    • Late fee: $15.
    • Non-sufficient funds fee: $15.

Upstart: Best for Small moving loans

Upstart
5.0

Est. APR

7.80-35.99%

Loan amount

$1K-$50K

Min. credit score

None

Check Rate
on NerdWallet

  • Qualifications:

    Key Facts:

    Upstart personal loans offer fast funding and may be an option for borrowers with low credit scores or thin credit histories. Upstart is a solid financing choice for large purchases.

    Qualifications:
    • Must be a U.S. citizen or permanent resident living in the U.S.
    • Must be at least 18 years old in most states.
    • Must have a valid email address and Social Security number.
    • Must have a full- or part-time job, a full-time job offer starting within six months or another source of regular income.
    • Must have a personal bank account at a U.S. financial institution with a routing number.
    • No bankruptcies in the last 12 months.
    • No current delinquent accounts on your credit reports.
    • Fewer than six hard inquiries on your credit report in the last six months, excluding student, auto and mortgage loans.
    • Minimum credit score: None.
    • Minimum annual income: $12,000.
    Available Term Lengths:3 to 7 years
    Fees:
    • Origination: 0% to 12%.
    • Late fee: 5% of the unpaid amount or $15, whichever is greater.
    • Insufficient funds fee: $15.

SoFi Personal Loan: Best for Moving loans for good credit

SoFi
5.0

Est. APR

8.99-29.99%

Loan amount

$5K-$100K

Min. credit score

None

Check Rate
on NerdWallet

  • Qualifications:

    Key Facts:

    Qualified borrowers will find few lenders better than SoFi, thanks to zero fees and thoughtful perks like unemployment protection and free financial advising.

    Qualifications:
    • Must be at least 18 years old in most states.
    • Must be a U.S. citizen, permanent or non-permanent resident, including DACA recipients and asylum seekers.
    • Must be employed, have sufficient income from another source, or have an offer of employment to start within the next 90 days.
    • Acceptable income sources: Employment, spouse’s income, retirement, alimony, child support, Social Security payments and disability benefits.
    Available Term Lengths:2 to 7 years
    Fees:
    • Origination fee: 0% to 7%.
    • Late fee: None.

Best Egg: Best for Moving loans for fair credit

BestEgg
4.5

Est. APR

7.99-35.99%

Loan amount

$2K-$50K

Min. credit score

600

Check Rate
on NerdWallet

  • Qualifications:

    Key Facts:

    Best Egg personal loans are available to borrowers who want to consolidate debt and secure a loan, but they lack some features offered by other lenders.

    Qualifications:
    • Minimum credit score: 600.
    • Maximum debt-to-income ratio: 70% including a mortgage.
    • Minimum credit history: 3 years and 1 account.
    • Acceptable income sources: Employment, household income, alimony, retirement, child support, Social Security payments and disability benefits.
    • Must be a U.S. citizen or permanent resident and at least 18 years of age.
    Available Term Lengths:3 to 5 years
    Fees:
    • Origination fee: 0.99% - 9.99%.

LendingClub: Best for Moving loans for good credit

Lending Club
4.5

Est. APR

7.90-35.99%

Loan amount

$1K-$40K

Min. credit score

600

Check Rate
on NerdWallet

  • Qualifications:

    Key Facts:

    LendingClub loans have limited term lengths, but you can add a co-borrower to help your chances of qualifying for a lower rate.

    Qualifications:
    • Minimum credit score: 600; average borrower score is above 700.
    • Minimum income: None; lender requires proof of income. Borrower average is $100,000 per year.
    • Maximum DTI: 40%.
    • Minimum credit history: 36 months and two accounts.
    Available Term Lengths:2 to 6 years
    Fees:
    • Origination fee: 0%-8%
    • Late fee: 5% of payment or $15 after 15-day grace period.
    • Insufficient funds: $15.

Laurel Road Personal Loan: Best for Co-signed or joint moving loans

Laurel Road Personal Loan
4.5

Est. APR

8.99-23.35%

Loan amount

$5K-$45K

Min. credit score

680

Read review

  • Qualifications:

    Key Facts:

    Laurel Road’s personal loans are a strong fit for good-credit borrowers who qualify for a low rate or fair-credit borrowers who can add a co-signer.

    Qualifications:
    • Minimum credit score: 680.
    • Minimum credit history: 2 years and 2 active accounts.
    • Maximum debt-to-income ratio: 43%, including housing costs, for most applicants (48% for some).
    • Acceptable sources of income: Employment, retirement, alimony, child support, Social Security payments and disability benefits.
    • Must be a U.S. citizen or a permanent resident with a valid I-551 card.
    • No bankruptcies.
    Available Term Lengths:3 to 5 years
    Fees:
    • Late fee: 5% of the payment amount or $28, whichever is less.
    • Non-sufficient funds fee: $20.

Universal Credit: Best for Moving loans for bad credit

Universal Credit
4.0

Est. APR

11.69-35.99%

Loan amount

$1K-$50K

Min. credit score

580

Check Rate
on NerdWallet

  • Qualifications:

    Key Facts:

    Universal Credit personal loans have a low minimum credit score requirement, credit-building features and perks for debt consolidation. The lender charges high rates but offers autopay and debt consolidation discounts.

    Qualifications:
    • Minimum credit score: 580.
    • Minimum number of accounts on credit history: 1 account.
    • Maximum debt-to-income ratio: 75%, including mortgage and the loan you’re applying for.
    • Minimum length of credit history: 2 years.
    • Minimum income requirement: None. Lender accepts income from alimony, retirement, child support, Social Security and other sources.
    Available Term Lengths:3 to 5 years
    Fees:
    • Origination fee: 5.25% to 9.99%.
    • Late fee: Up to $10.
    • Non-sufficient funds fee: $10.

Upgrade: Best for Moving loans for bad credit

Upgrade
5.0

Est. APR

7.99-35.99%

Loan amount

$1K-$50K

Min. credit score

580

Check Rate
on NerdWallet

  • Qualifications:

    Key Facts:

    Upgrade personal loans come with multiple rate discounts and offer direct payment to creditors. This lender has a low minimum credit score requirement, making the perks stand out even more.

    Qualifications:
    • Minimum credit score: 580.
    • Minimum number of accounts on credit history: One account.
    • Maximum debt-to-income ratio: 75%, including mortgage payments.
    • Minimum length of credit history: Two years.
    • Minimum income requirement: None. Lender accepts income from alimony, retirement, child support, Social Security, disability benefits and other sources.
    Available Term Lengths:2 to 7 years
    Fees:
    • Origination fee: 1.85% to 9.99%.
    • Late Fee: $10.
    • Failed payment fee: $10.

Rocket Loans: Best for Moving loans with fast funding

RocketLoans
4.5

Est. APR

8.71-29.99%

Loan amount

$2K-$45K

Min. credit score

640
Check Rate
on NerdWallet

  • Qualifications:

    Key Facts:

    Rocket Loans personal loans stand out for fast funding, but they lack some features other lenders offer.

    Qualifications:
    • Minimum credit score: 640.
    • Minimum annual gross income: $24,000.
    • Maximum debt-to-income ratio: 40% or 70% including a mortgage.
    • Minimum credit history: 2 years.
    • Must be at least 18 years old.
    • Must be a U.S. resident living in one of the states where the lender does business.
    Available Term Lengths:3 to 5 years
    Fees:
    • Origination fee: Up to 9%.
    • Late fee: $15.
    • Non-sufficient funds fee: $15.

Upstart: Best for Small moving loans

Upstart
5.0

Est. APR

7.80-35.99%

Loan amount

$1K-$50K

Min. credit score

None
Check Rate
on NerdWallet

  • Qualifications:

    Key Facts:

    Upstart personal loans offer fast funding and may be an option for borrowers with low credit scores or thin credit histories. Upstart is a solid financing choice for large purchases.

    Qualifications:
    • Must be a U.S. citizen or permanent resident living in the U.S.
    • Must be at least 18 years old in most states.
    • Must have a valid email address and Social Security number.
    • Must have a full- or part-time job, a full-time job offer starting within six months or another source of regular income.
    • Must have a personal bank account at a U.S. financial institution with a routing number.
    • No bankruptcies in the last 12 months.
    • No current delinquent accounts on your credit reports.
    • Fewer than six hard inquiries on your credit report in the last six months, excluding student, auto and mortgage loans.
    • Minimum credit score: None.
    • Minimum annual income: $12,000.
    Available Term Lengths:3 to 7 years
    Fees:
    • Origination: 0% to 12%.
    • Late fee: 5% of the unpaid amount or $15, whichever is greater.
    • Insufficient funds fee: $15.

SoFi Personal Loan: Best for Moving loans for good credit

SoFi
5.0

Est. APR

8.99-29.99%

Loan amount

$5K-$100K

Min. credit score

None
Check Rate
on NerdWallet

  • Qualifications:

    Key Facts:

    Qualified borrowers will find few lenders better than SoFi, thanks to zero fees and thoughtful perks like unemployment protection and free financial advising.

    Qualifications:
    • Must be at least 18 years old in most states.
    • Must be a U.S. citizen, permanent or non-permanent resident, including DACA recipients and asylum seekers.
    • Must be employed, have sufficient income from another source, or have an offer of employment to start within the next 90 days.
    • Acceptable income sources: Employment, spouse’s income, retirement, alimony, child support, Social Security payments and disability benefits.
    Available Term Lengths:2 to 7 years
    Fees:
    • Origination fee: 0% to 7%.
    • Late fee: None.

Best Egg: Best for Moving loans for fair credit

BestEgg
4.5

Est. APR

7.99-35.99%

Loan amount

$2K-$50K

Min. credit score

600
Check Rate
on NerdWallet

  • Qualifications:

    Key Facts:

    Best Egg personal loans are available to borrowers who want to consolidate debt and secure a loan, but they lack some features offered by other lenders.

    Qualifications:
    • Minimum credit score: 600.
    • Maximum debt-to-income ratio: 70% including a mortgage.
    • Minimum credit history: 3 years and 1 account.
    • Acceptable income sources: Employment, household income, alimony, retirement, child support, Social Security payments and disability benefits.
    • Must be a U.S. citizen or permanent resident and at least 18 years of age.
    Available Term Lengths:3 to 5 years
    Fees:
    • Origination fee: 0.99% - 9.99%.

LendingClub: Best for Moving loans for good credit

Lending Club
4.5

Est. APR

7.90-35.99%

Loan amount

$1K-$40K

Min. credit score

600
Check Rate
on NerdWallet

  • Qualifications:

    Key Facts:

    LendingClub loans have limited term lengths, but you can add a co-borrower to help your chances of qualifying for a lower rate.

    Qualifications:
    • Minimum credit score: 600; average borrower score is above 700.
    • Minimum income: None; lender requires proof of income. Borrower average is $100,000 per year.
    • Maximum DTI: 40%.
    • Minimum credit history: 36 months and two accounts.
    Available Term Lengths:2 to 6 years
    Fees:
    • Origination fee: 0%-8%
    • Late fee: 5% of payment or $15 after 15-day grace period.
    • Insufficient funds: $15.

Laurel Road Personal Loan: Best for Co-signed or joint moving loans

Laurel Road Personal Loan
4.5

Est. APR

8.99-23.35%

Loan amount

$5K-$45K

Min. credit score

680
Read review

  • Qualifications:

    Key Facts:

    Laurel Road’s personal loans are a strong fit for good-credit borrowers who qualify for a low rate or fair-credit borrowers who can add a co-signer.

    Qualifications:
    • Minimum credit score: 680.
    • Minimum credit history: 2 years and 2 active accounts.
    • Maximum debt-to-income ratio: 43%, including housing costs, for most applicants (48% for some).
    • Acceptable sources of income: Employment, retirement, alimony, child support, Social Security payments and disability benefits.
    • Must be a U.S. citizen or a permanent resident with a valid I-551 card.
    • No bankruptcies.
    Available Term Lengths:3 to 5 years
    Fees:
    • Late fee: 5% of the payment amount or $28, whichever is less.
    • Non-sufficient funds fee: $20.

Universal Credit: Best for Moving loans for bad credit

Universal Credit
4.0

Est. APR

11.69-35.99%

Loan amount

$1K-$50K

Min. credit score

580
Check Rate
on NerdWallet

  • Qualifications:

    Key Facts:

    Universal Credit personal loans have a low minimum credit score requirement, credit-building features and perks for debt consolidation. The lender charges high rates but offers autopay and debt consolidation discounts.

    Qualifications:
    • Minimum credit score: 580.
    • Minimum number of accounts on credit history: 1 account.
    • Maximum debt-to-income ratio: 75%, including mortgage and the loan you’re applying for.
    • Minimum length of credit history: 2 years.
    • Minimum income requirement: None. Lender accepts income from alimony, retirement, child support, Social Security and other sources.
    Available Term Lengths:3 to 5 years
    Fees:
    • Origination fee: 5.25% to 9.99%.
    • Late fee: Up to $10.
    • Non-sufficient funds fee: $10.

Upgrade: Best for Moving loans for bad credit

Upgrade
5.0

Est. APR

7.99-35.99%

Loan amount

$1K-$50K

Min. credit score

580
Check Rate
on NerdWallet

  • Qualifications:

    Key Facts:

    Upgrade personal loans come with multiple rate discounts and offer direct payment to creditors. This lender has a low minimum credit score requirement, making the perks stand out even more.

    Qualifications:
    • Minimum credit score: 580.
    • Minimum number of accounts on credit history: One account.
    • Maximum debt-to-income ratio: 75%, including mortgage payments.
    • Minimum length of credit history: Two years.
    • Minimum income requirement: None. Lender accepts income from alimony, retirement, child support, Social Security, disability benefits and other sources.
    Available Term Lengths:2 to 7 years
    Fees:
    • Origination fee: 1.85% to 9.99%.
    • Late Fee: $10.
    • Failed payment fee: $10.

» MORE: Compare unsecured loans

What is a moving or relocation loan?

A moving loan is an unsecured personal loan used to pay for moving expenses. You can use the funds from an unsecured loan to pay for anything, including movers and furniture for your new home. You repay this loan, plus interest, in fixed amounts usually over a few years.

Pros and cons of moving loans

Taking a personal loan for moving expenses is just one financing option. Here are the main pros and cons of getting one for a big move.

Pros of moving loans

  • Lower rates than some credit cards. If you have good credit, you may get a lower rate on a personal loan than on a credit card. The estimated rate for borrowers with excellent credit is 11.2%, according to our personal loan calculator.

  • Fast funding. If your move is coming up, some online loans fund as quickly as the same or next business day after you’re approved. Submitting a complete application with all the required documents can speed up funding.

  • Large loans. Borrowers may access large loan amounts with a personal loan that can help with the move and getting set up in their new place.

  • Predictable payments. Personal loans have fixed interest rates, so you’ll make the same monthly payment for the life of your loan. This can help with budgeting for the payments and deciding what loan offer is the right fit.

Cons of moving loans

  • Long-term debt. You’ll likely be paying for your move long after you’ve settled into your new home, since terms on personal loans can extend up to seven years.

  • Fees. Some lenders charge origination fees that can range from 1% to 10% of the loan amount, though it’s usually based on your qualifications. It’s calculated into the annual percentage rate and may be subtracted from the loan proceeds. For example, a $5,000 loan with a 5% origination fee ($250) would net you $4,750.

  • High rates for bad credit. If you have bad credit (629 credit score or lower) or a lot of existing debt when you apply, a personal loan can be expensive. In this case, you can expect a rate above 20% and possibly even higher than 30%.

How to get a loan for moving

Borrowers with strong credit and a low debt-to-income ratio have the best chances of qualifying for a low rate on a moving loan, although requirements vary by lender. Building your credit and improving your debt-to-income ratio are good ways to boost your chances of qualifying for a moving loan.

Here are the steps to apply for a personal loan.

  1. Decide what you need: Personal loans come in a lump sum, unlike a credit card or line of credit, and it’s not always easy to go back and borrow more. Make sure to have a strong idea of how much your move will cost before you apply.

  2. Pre-qualify: You can pre-qualify with a lender to see what loan amount, APR and monthly payments you qualify for. Pre-qualifying doesn’t affect your credit score, so you can compare offers from a few lenders before committing to a loan.

  3. Prepare your documents: Once you’ve decided which offer to accept, gather documents like identification, Social Security number, W-2s and pay stubs. Having all of your documents together can get you through the application more quickly and may help the lender fund the loan faster.

  4. Make a repayment plan: Be sure you have a plan to make your payments on time, which can help you build credit and avoid late fees. Most lenders don’t penalize you for making extra payments or paying the loan off early. If you’re able to pay extra, you’ll save on interest in the long run.

» MORE: Pre-qualify with NerdWallet to see offers from lenders that partner with us

Alternatives to moving loans

Savings are the cheapest way to pay for a move, so if you have an emergency fund or time to budget beforehand, you could avoid borrowing as much or getting a loan altogether.

If not, compare these alternatives with a personal loan to find the financing option that’s best for your plans:

Relocation package: If you’re relocating for a new job, ask your new company about paying for some or all of your moving expenses. If you didn’t discuss it during the negotiation process, it could be worthwhile to ask before going into debt for the move.

Credit unions: Federal credit union loans typically start under $1,000 and have a maximum APR of 18%. Because a member’s history with the credit union is considered on a loan application, those with fair or bad credit (689 credit score or lower) may qualify more easily than with a loan from a bank or online lender.

Credit cards: Borrowers with good or excellent credit may qualify for a 0% APR credit card, which charges no interest if you pay off the balance within a promotional period — usually 15 to 21 months.

Family and friends: Getting a loan from family or friends can be a low- or no-interest way to borrow money that won’t affect your credit score. Tread lightly with this option if borrowing money would mean risking your relationship with the lender.

Sell your stuff: Do you really need that piano? Selling larger items like a couch or pool table puts cash in your pocket and reduces moving costs. List items for sale online or hold a moving sale.

» MORE: Tips for an easier, cheaper move

Last updated on December 21, 2022

Frequently asked questions

  • A personal loan is one of a few financing options for your move. Because there aren’t many restrictions on how you use a personal loan, you can spend the funds on moving expenses and things like new home furnishings. This may be the right option if you don’t already have savings, but compare all your financing options to be sure.

  • A personal loan used for relocation comes in a lump sum, and you can spend it on almost anything you need during your move. Because these loans have fixed interest rates, you’ll make the same payment on the loan each month, usually over the course of a few years.

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How we chose the best personal loans

Our team of consumer lending experts follows an objective and robust methodology to rate lenders and pick the best.

35+

Lenders reviewed

We review over 35 lenders, including major banks, top credit unions, leading digital platforms, and high interest installment lenders operating across multiple states.

25+

Categories assessed

Each lender is evaluated across five weighted categories and 27 subcategories, covering affordability, eligibility, consumer experience, flexibility, and application process.

70+

Data points analyzed

Our team tracks and reassesses hundreds of data points annually, including APR ranges, fees, credit requirements, and borrower tools, ensuring up to date, accurate comparisons.

Star rating categories

We evaluate more categories than competitors and carefully weigh how each factor impacts your experience.
Affordability

25%

We review lenders’ annual percentage rate offerings at least twice per year and the competitiveness of each lenders’ APR range. We also assess whether a lender charges an origination fee and any opportunity for borrowers to receive a rate discount.

Customer experience

20%

We consider the experience of the consumer trying to manage a personal loan, which means accessibility of customer service representatives, whether borrowers can choose and change their payment due date, and the ability to track their loan on a mobile app.

Underwriting and eligibility

20%

We consider the rigorousness of each lender’s underwriting practices and how widely available their loans are. This category includes whether a lender does a hard credit check before providing a loan, the range of credit profiles they accept and how many states their loans are offered in.

Loan flexibility

20%

We assess how flexible lenders can be with borrowers, including whether they offer multiple loan types, personal loan amounts and repayment term options and whether they offer direct payment to creditors on debt consolidation loans.

Application process

15%

We consider the lender’s full application process, including a borrower’s ability to preview their loan offer via pre-qualification, whether basic loan information such as APR range and repayment terms are available and easy to find online and how quickly a loan can be funded after approval.

5.0

Overall score

NerdWallet’s review process evaluates and rates personal loan products from more than 35 financial technology companies and financial institutions. We collect over 70 data points and cross-check company websites, earnings reports and other public documents to confirm product details. We may also go through a lender’s pre-qualification flow and follow up with company representatives. NerdWallet writers and editors conduct a full fact check and update annually, but also make updates throughout the year as necessary.
Our star ratings award points to lenders that offer consumer-friendly features, including: soft credit checks to pre-qualify, competitive interest rates and no fees, transparency of rates and terms, flexible payment options, fast funding times, accessible customer service, reporting of payments to credit bureaus and financial education. Our ratings award fewer points to lenders with practices that may make a loan difficult to repay on time, such as charging high annual percentage rates (above 36%), underwriting that does not adequately assess consumers’ ability to repay and lack of credit-building help. We also consider regulatory actions filed by agencies like the Consumer Financial Protection Bureau. We weigh these factors based on our assessment of which are the most important to consumers and how meaningfully they impact consumers’ experiences.
NerdWallet does not receive compensation for our star ratings. Read more about our ratings methodologies for personal loans and our editorial guidelines.
To recap our selections...

NerdWallet's Personal Loans for Moving and Relocation in 2023