moving · relocation · apartment deposit

Loans for Moving Expenses and Security Deposits

A move often stacks costs up front: movers or a truck, a security deposit, first month’s rent and utility deposits.

A personal loan can spread those costs out, but only borrow what your new budget can repay.

Separate option – personal loan rates

Check personal loan rates for moving costs without affecting your credit score¹.

On the Upstart platform, you could receive offers from lenders.

Affiliate link. LendMail may earn a commission if you apply and are approved. Not all applicants approved. Upstart Network, Inc. (NMLS #936133) is not a lender. All loans on its marketplace are made by regulated financial institutions.

¹ When you check your rate, we check your credit report. This initial (soft) inquiry will not affect your credit score. If you accept your rate and proceed with your application, we do another (hard) credit inquiry that will impact your credit score. If you take out a loan, repayment information may be reported to the credit bureaus.

Add up the real cost of the move

Get written quotes first. Borrowing a padded “round number” means paying interest on money you didn’t need.

Movers or truck rental, fuel, packing supplies and storage.
Security deposit, first (and sometimes last) month’s rent and any application fees.
Utility and internet setup deposits.
Overlap rent if your old and new leases cross.

Fair credit? Compare before you commit

With fair credit, offers can vary widely between lenders. Compare the APR, any origination fee (which may be taken out of the amount you receive), the monthly payment and the total you’ll repay.

Checking rates is usually a soft inquiry. A full application usually adds a hard inquiry.

Lower-cost options to try first

Ask the landlord whether the deposit can be paid in installments.
If your employer is relocating you, ask about relocation assistance or reimbursement.
Time the move to get your old deposit back before the new one is due, when possible.

Know the cost before you accept

APR: the yearly cost of borrowing, including interest and some fees.
Fees: origination, late and other fees.
Repayment: monthly payment, number of payments and total repaid.
Pre-approval or prequalification is not a guarantee of final approval or of the rate shown.

FAQ

Can I use a personal loan for a security deposit?

Many personal loans can be used for general expenses, including moving costs, but each lender sets its own allowed uses. Check the loan terms before you apply.

Can I get a moving loan with fair credit?

Possibly. Lenders review your full application, so approval isn’t guaranteed, and rates for fair credit are often higher than for good credit.

Is LendMail the lender?

No. LendMail is an independent guide and does not make loans or approval decisions.

Related loan guides

Sources

LendMail is an independent guide, not a lender. We don't make loans or approval decisions.