It finally happened. You’re moving to start a new and exciting stage of your life. New home, new town, new job. Now all you have to do is get there. Simple enough, right? But then you discover that the average cost of relocating to another state is more than $5,000.
Add up the cost of movers, packing supplies, shipping, security deposits, rentals, insurance and fees, and you’ll soon realize that moving requires a serious upfront investment.
A relocation loan from Marcus by Goldman Sachs® could help you finance these costs.
A relocation loan is a personal loan that is used primarily to help cover the costs of moving, whether you’re moving in-state or across the country.
A personal loan from Marcus could help finance costs associated with moving.
Once you have the funds in your account, you can spend them on any moving expense.
Here are just some of the ways you could spend the money:
The loan may also help cover temporary living expenses if you’re transitioning to a position at a new company and are waiting to receive your first paycheck.
No sign-up fees. No late fees—you just pay interest for the additional days. No prepayment. No fees, period.
Your interest rate is fixed, so you won’t have to worry about changing rates over the life of the loan or fluctuating monthly payment amounts.
The amount you are approved for is the amount you receive. Marcus offers personal loans with rates as low as 6.99% APR — that's lower than most credit cards. Rates range from 6.99% to 24.99% APR, and loan terms range from 36 to 72 months. For NY residents, rates range from 8.99% to 24.74% APR. Only the most creditworthy applicants qualify for the lowest rates and longest loan terms. Rates will generally be higher for longer-term loans. Learn more
The application process is easy—compared to packing up your bedroom, that is. Many Marcus customers receive their funds within 5 days.
Marcus relocation loans are available from $3,500 to $20,000 with terms from 3 to 6 years.
Maybe you planned it out, and it’ll cost about $5,000 to move your three-bedroom home cross-country from Detroit to Dallas using a moving company.
You have at least two ways to cover these costs: a relocation loan from Marcus or a credit card.
You could place those expenses on your credit card. You could also consider a personal loan from Marcus; borrowers with good credit could get an interest rate that’s lower than the ones on their cards.
Personal loans from Marcus also have fixed interest rates, which means the amount you pay back every month will stay the same.