The average long-distance move costs $4,000-$8,000, and not everyone has that much saved up. Whether you are relocating for a job, downsizing, or starting fresh, there are several financing options to bridge the gap between what you have and what the move costs.
Personal loans from banks, credit unions, or online lenders are the most common way to finance a move. Interest rates range from 6% to 36% depending on your credit score, with most borrowers qualifying in the 8-15% range. Loan amounts of $2,000-$15,000 cover most moves with repayment terms of 2-5 years. Credit unions typically offer the lowest rates for members. Apply and get pre-approved before your move so funds are available when you need them. Many online lenders can fund within 1-3 business days.
If you have good credit (680+), a 0% APR introductory offer credit card can finance your move interest-free for 12-21 months. This works best for moves under $5,000 that you can pay off within the promotional period. The catch: you must be disciplined about paying it off before the regular APR kicks in (typically 18-26%). Some movers accept credit cards directly, while others require a check or bank transfer. In that case, use the card for other move-related expenses like deposits, supplies, and travel.
If you are moving for a job, ask your employer about relocation assistance before paying out of pocket. Many companies offer $2,000-$10,000 in relocation benefits, and some cover the entire move including temporary housing. Even if a formal relocation package is not standard, many employers will negotiate a signing bonus or salary advance to help cover moving costs. Get any relocation agreement in writing and understand the clawback clause, which may require you to repay the benefit if you leave the company within 1-2 years.
Home equity loans or HELOCs work if you own property and have equity. 401(k) loans let you borrow from retirement savings with low interest, though this should be a last resort. Some moving companies offer payment plans, though terms vary widely. Nonprofits and government programs may assist with moving costs for specific situations like domestic violence survivors, veterans, or low-income families. Avoid payday loans and high-interest cash advances, which can turn a $4,000 move into a $6,000+ debt spiral.
Before taking on debt, exhaust cost-cutting options first. Get quotes from at least 3-5 movers and negotiate. Consider a hybrid move where you pack and the movers load and drive. Move mid-week and mid-month for lower rates. Sell furniture you do not love and buy replacements at your destination from Facebook Marketplace. Ship boxes via USPS or UPS Ground instead of adding them to the truck. Use our free moving cost calculator to find the most affordable approach for your specific situation and compare the true cost of financing versus cutting expenses.
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There is no specific "moving loan" product, but personal loans from banks, credit unions, and online lenders are commonly used for relocations. Amounts of $2,000-$15,000 with 2-5 year terms cover most moves. Apply based on your credit score for the best rate.
Most lenders require a minimum credit score of 580-620 for personal loans. Scores above 700 qualify for the best rates (6-10% APR). Credit unions tend to be more flexible with credit requirements than banks or online lenders.
Use a 0% APR credit card if you can pay off the balance within the promotional period (12-21 months). Use a personal loan for larger moves or if you need a fixed payment schedule. The personal loan is better if you need more than 18 months to repay.
