What is a wedding loan?

Any loan you use specifically to pay for the costs of getting married is considered a wedding loan. Wedding loans are simply personal loans, which you qualify for based on your creditworthiness. You can use any personal loan to pay for a wedding. Banks, credit unions and online lenders offer personal loans you can use to finance wedding-related costs.

Do people take out loans for weddings?

Yes. According to Credit Karma, about 20% of Americans have gone into debt to plan or attend a wedding. People do take out loans for weddings to cover some or all of the costs of getting married. More often than not, people take out personal unsecured loans to pay for their wedding and pay it back over a period of 12 to 60 months.

How to get a loan for your wedding?

To get a loan for your wedding you have to apply through a bank, credit union or online lender. With Avant this involves a three step process. First you check your rates without affecting your credit score. Next, you get your decision - within minutes whenever possible.†Finally, if approved you will receive your funds as soon as the next business day.‡

Should I get a wedding loan?

You should only get a wedding loan if you can afford to pay the debt off within a reasonable amount of time. You certainly don’t want to start your new marriage buried in debt you can’t afford. Also be prepared to do your homework to find the best rates for your situation. Check with a variety of lenders. Many, like Avant, will let you check your rates without affecting your credit score.

How much can I borrow for wedding financing?

Personal loans from $2,000 to $35,000* are available through Avant. The amount you can borrow will depend on your unique situation. Remember to only ever borrow as much as you can afford to pay back.

Can I qualify for wedding loans with bad credit?

While your credit score is important, it is not the only thing that lenders will consider when you apply for a loan. People who take out personal loans through Avant typically have credit scores between 550 and 700.

How do you finance a wedding with a personal loan?

To finance a wedding with a personal loan you would have to apply for a loan and be approved. Once you get the funds, as soon as the next business day‡ after approval, you can use the funds to pay for any of your wedding costs. Funds from a personal loan can be used to pay for engagement rings, clothing, travel, accommodation, or any other wedding related expense that you incur.