6 Best Wedding Loans (August 2022) – WalletHub | Wedding Loan, Marriage Loan, Loan for Weddings

The best wedding loans are from

3.99% – 19.99%

. Plus, LightStream doesn’t charge an origination fee, and you may even get your funds the same day you apply.

In general, the best wedding loans are personal loans that offer a lot of funding with long payoff periods, as weddings can be very expensive and starting life as a couple is difficult. The best wedding loans also provide the lowest possible APRs and fees.

There are plenty of good wedding loan offers on the market. Just check out this comparison of the top offers from our partners.
 

Wedding Loans for 2022 Compared

Lender
APR
Loan Amount
Score Required
Best Egg

4.99% – 35.99%

$2,000 – $50,000
640*

Upgrade

6.95% – 35.97%

up to $35,000
620*

LendingClub

7.04% – 35.89%

$1,000 – $40,000
600-640*

LendingPoint

7.99% – 35.99%

$2,000 – $36,500
580

Prosper

7.95% – 35.99%

$2,000 – $40,000
640

You can get a better idea of your potential wedding loan rates by

The terms for wedding loans can differ drastically, depending on a variety of factors. For example, the better your credit is, the more likely you are to get a loan with favorable interest rates and low fees. But improving your credit isn’t the only thing you can do to save on wedding loan costs.

If you decide that getting a wedding loan is the best way to fund your big day, it’s important to know how the process works. We’ll lay out the steps below.
 

How to Get the Best Wedding Loan

  1. Check for pre-qualification.
  2. Carefully compare personal loan offers.
  3. Apply for a loan.
  4. Wait to hear back from the lender.
  5. Wait for funding, if approved.

So the
 

What Can You Use a Wedding Loan For?

A wedding loan can be used for a lot more than just the ceremony. There are plenty of other wedding-related expenses the funds could cover that people need help affording.

Engagement rings

The average cost of an engagement ring is around

Wedding reception

A fun celebration can cost couples upwards of $22,500. That’s another hefty expense to pay up font.

Honeymoon

A honeymoon can be a fun trip with your new spouse, but it’s not worth it if you’re going to worry over the expenses. On average, a honeymoon costs couples almost $4,500.

Destination weddings

Destination weddings are incredibly popular, but it can cost a lot to fly your friends and family out. On average, the baseline cost for a destination wedding is $35,000.

Venues

The cost of your venue may depend on where you actually get married. For example, a courthouse or backyard wedding will cost significantly less than a wedding at a museum, resort, cathedral or park.

Additional costs

Other costs like decorations, the cake, chairs and little gifts for your wedding party will add up quickly. 
 

Alternatives to Wedding Loans

  • Cut wedding costs. Starting married life with debt from a wedding isn’t ideal. If you can decrease the cost of the wedding, you’ll have to borrow less. And that doesn’t necessarily mean cutting things entirely – just finding cheaper alternatives.
  • Save up money. Putting aside a little bit of your paycheck each month can go a long way toward having enough for your special day. The longer you have between making a plan and your wedding day, the more you’ll be able to save.
  • Ask for help from family. It’s common for the parents of the betrothed to chip in toward wedding costs. Getting help from them is another great way to bring down the amount potentially needed from a loan. Even if you have to pay your parents back, they tend to be pretty understanding creditors.
  • Use a credit card. You likely won’t be able to charge all your wedding expenses to a credit card, but weddings are made up of many smaller purchases. You can look into 0% APR cards that give you time to pay off your purchases interest-free for a certain number of months.  
  • Get a grant. Believe it or not, there are organizations that will offer grants to pay for weddings. However, they’re mostly for people in difficult financial or health circumstances.
  • Work extra. Getting a part-time side job or putting in some extra hours at your current job could help you earn some extra cash to use for a wedding.

The best wedding loans are from LightStream because it offers big enough loans to cover the average person’s wedding costs, as well as some of the lowest APRs on the market. LightStream provides $5,000 to $100,000 in funding for 24 to 144 months, with an APR range of. Plus, LightStream doesn’t charge an origination fee, and you may even get your funds the same day you apply.In general, the best wedding loans are personal loans that offer a lot of funding with long payoff periods, as weddings can be very expensive and starting life as a couple is difficult. The best wedding loans also provide the lowest possible APRs and fees.There are plenty of good wedding loan offers on the market. Just check out this comparison of the top offers from our partners.*According to multiple third-party sourcesYou can get a better idea of your potential wedding loan rates by checking for pre-qualification with various lenders before applying. Pre-qualification doesn’t hurt your credit, and it can help you choose which lender will be the cheapest for you.The terms for wedding loans can differ drastically, depending on a variety of factors. For example, the better your credit is, the more likely you are to get a loan with favorable interest rates and low fees. But improving your credit isn’t the only thing you can do to save on wedding loan costs.If you decide that getting a wedding loan is the best way to fund your big day, it’s important to know how the process works. We’ll lay out the steps below.So the steps to get a loan for a wedding are fairly simple. They’re actually the same steps you’d take to get a personal loan for any purpose.A wedding loan can be used for a lot more than just the ceremony. There are plenty of other wedding-related expenses the funds could cover that people need help affording.The average cost of an engagement ring is around $4,000 . That’s a pretty penny for some couples.A fun celebration can cost couples upwards of $22,500. That’s another hefty expense to pay up font.A honeymoon can be a fun trip with your new spouse, but it’s not worth it if you’re going to worry over the expenses. On average, a honeymoon costs couples almost $4,500.Destination weddings are incredibly popular, but it can cost a lot to fly your friends and family out. On average, the baseline cost for a destination wedding is $35,000.The cost of your venue may depend on where you actually get married. For example, a courthouse or backyard wedding will cost significantly less than a wedding at a museum, resort, cathedral or park.Other costs like decorations, the cake, chairs and little gifts for your wedding party will add up quickly.