Compare lenders offering personal loans for moving and relocation, whether you have good or bad credit, need fast funding or are looking for a small loan.
This service is free and will not affect your credit score.
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. Read our review of Upstart
LendingClub personal loans are a solid option for good-credit borrowers looking to consolidate debt and build their credit. Read our review of LendingClub
Achieve personal loans can be a good debt consolidation option for fair- or good-credit borrowers who qualify for one of the lender’s rate discounts. Read our review of Achieve Personal Loans
Avant personal loans are a solid option for fair- and bad-credit borrowers who need fast funding, but their rates and origination fees can be high. Read our review of Avant
Upgrade personal loans offer multiple rate discounts and direct payment to creditors. A low minimum credit score requirement makes the perks stand out even more. Read our review of Upgrade
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.
See how different loan amounts, rates, and terms affect your monthly payment
Estimated monthly payment
$309.92
Total interest over 3 years
$1,156.95
Total loan payment
$11,156.95
Loan amount
$10,000
$10,000
Interest rate
7.25%
7.25%
Loan term (years)
3
3 years
PRINCIPAL AMOUNT — $10,000TOTAL INTEREST PAID — $1,156.95
90%
10%
What is a moving or relocation loan?
A moving loan is an unsecured personal loan used to pay for moving expenses, such as movers and new furniture. A personal loan used for relocation comes in a lump sum that you repay, plus interest, in fixed amounts usually over a few years.
These loans are available from online lenders, credit unions and many banks. Online loans typically fund faster, but you may get a better rate from a local bank or credit union.
The cost to move depends on several factors, such as how far you’re moving and where to, how much you’re bringing and how you’ll get there.
On average, a move across town costs about $1,710, while a cross-country relocation can cost anywhere from $2,700 to $10,000, according to HomeAdvisor .
Your moving expenses could include:
Boxes and supplies.
Professional packers or moving crew.
Moving truck or trailer.
Shipping containers.
Airfare.
Gas.
New furniture.
Cleaning service.
Security deposit and first and last month’s rent.
Make sure to budget for the move before applying for a moving loan, since you won’t be able to request more money once the loan is funded.
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. Personal loan rates range from about 6% to 36%.
Fast funding. If the move is soon, 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.
Predictable payments. Personal loans have fixed interest rates, meaning the monthly payment will be the same for the life of the loan. This can help you budget for the payments. Use our personal loan calculator to estimate monthly payments based on loan amount, interest rate and loan term.
Cons of moving loans
Long-term debt. You’ll likely be paying for the move long after settling into your new home, since repayment terms on personal loans can extend up to seven years.
Fees. Some lenders charge origination fees that usually range from 1% to 10% of the loan amount. This fee is included in 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 (any score between 300 to high 500s) or a lot of existing debt, a personal loan can be expensive. In this case, the interest rate may be above 20% and possibly even higher than 30%.
Should I get a personal loan for moving?
A personal loan is one of a few financing options for your move. Because there aren’t many restrictions on how to use a personal loan, you can spend the funds on moving expenses and things like new home furnishings.
A personal loan may be the right choice if you don’t have savings or cheaper financing options, like a 0% interest credit card or a relocation package from a new employer.
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.
Decide how much 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 solid estimate of how much the move will cost before you apply.
Pre-qualify: Pre-qualify with a lender to see your estimated loan amount, APR and monthly payments. Pre-qualifying doesn’t affect your credit score, so you can compare offers from a few lenders before committing to a loan.
Prepare documents and apply: Once you’ve decided which offer to accept, gather documents like identification, Social Security number, W-2s and pay stubs. Having all of these documents ready can get you through the application more quickly and may help the lender approve the application faster.
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.
Moving loans are available to borrowers even if they have bad credit. Some online lenders, like Upstart, Upgrade, Avant and Universal Credit, have a low minimum credit score requirement, but it’s still best to shop around and pre-qualify with multiple lenders to get the lowest rate.
Credit union loans are another good option, since they tend to offer lower rates and more flexible terms for borrowers with lower credit scores. Federal credit union loans can start under $1,000 and have a maximum APR of 18%.
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 cards: Borrowers with good or excellent credit may qualify for a 0% APR credit card, which charges no interest if the balance is paid off within the 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.
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