How To Finance a Wedding: Best Wedding Loans of April 2025

Your wedding may be one of the most memorable days of your life, but it could also be the most expensive. 

While it’s best to save up for a wedding, consider a wedding loan from a personal loan lender if you need to pay over time. A personal loan is often preferable to using credit cards since rates can be much lower, especially if you have good credit. And applying for a wedding loan is often a piece of cake.

How much does a wedding cost?

The average cost of a wedding in the U.S. is about $33,000, which breaks down to about $284 per guest, according to The Knot’s 2025 Real Weddings Study. Fortunately, that’s just an average, not a required cost. “I’ve seen couples throw stunning weddings for $5,000, $10,000, and every number in between,” says Jessica Bishop, Founder & CEO at The Budget Savvy Bride.

The biggest portion of that cost is typically the venue. Bishop says couples can save a lot of cash by choosing a nontraditional venue or an off-season wedding date. “Outdoor spaces, parks, or even a backyard wedding can cost a fraction of the price of a traditional venue,” she says. “You can also look at off-peak dates like Fridays, Sundays, or winter months when venues offer lower rates.”

Trimming the guest list to your closest loved ones can also make a big difference when it comes to the final bill. “Hosting a smaller wedding allows your budget to stretch further, and whatever amount you have to spend can treat that smaller number of guests to a nicer experience,” says Bishop. “The key is to spend on what truly matters to you and let go of the rest,” she adds. 

Best wedding loans

Methodology

Credible evaluated the best personal loan lenders for wedding loans based on customer experience, minimum fixed rate, maximum loan amount, funding time, loan terms, fees, discounts, and whether cosigners or joint borrowers are accepted. Credible’s team of experts gathered information from each lender’s website, customer service department, and directly from our partners. Each data point was verified by a senior editor to make sure it was accurate and up to date.

Learn more about how Credible rates lenders by exploring our personal loans lender rating methodology.

What is a wedding loan and how does it work?

A wedding loan is often a personal loan used to pay for a wedding, though it may also refer to other loan types, such as home equity loans or HELOCs. 

A personal loan provides a lump sum of cash upfront, which you can use for a deposit on the wedding venue, vendors, wedding attire, and other wedding-related expenses. 

You repay the loan in fixed monthly installments that include interest. Some lenders also charge an upfront fee known as an origination fee, which is deducted from the loan disbursement. You can typically spread the payments over one to seven years, but note that you’ll need to start making payments right away — you can’t wait until after you’re married. 

Wedding loan interest rates

When determining the interest rate for a wedding loan, lenders typically evaluate the applicant’s credit score and history, income, existing debts, and the loan amount and repayment term. The chart below shows average wedding loan interest rates plus average incomes for different FICO score tiers for borrowers on the Credible loan marketplace from March 2024 through February 2025.

Pros and cons of wedding loans

Pros

• Great for budgeting: Personal loans provide a lump sum and follow a fixed repayment schedule. They can be a good choice if you’ve made room in your budget for a fixed payment for a number of years.
• Lower average rates than credit cards: Aside from temporary offers for new cardholders, credit cards tend to have much higher average APRs than personal loans, according to the Federal Reserve. A personal loan could cost much less than carrying a balance on your credit card. 
• No collateral required: Most personal loans are unsecured, which means you don’t have to offer an asset (like your home or vehicle) to secure the loan — which the lender can seize in the event of nonpayment. 
• Fixed interest rate: Unlike credit cards, personal loans have fixed rates, which means your payment won’t change over time.
• Flexibility: Since personal loans provide a lump sum upfront, they can be used for a wide range of wedding expenses. You may even be able to procure vendor discounts by paying in cash. 

Cons

• Increased financial stress: Adding to your debt balance can add stress to both your wedding day and your new marriage. “Money is already one of the top sources of conflict in relationships,” says Bishop. “Starting off with wedding debt can create added pressure, especially if financial priorities shift after the wedding.”
• Delaying other milestones: Spending some of your monthly budget on loan repayment means you won’t be able to set as much aside for other goals. “You’re paying for a one-day event over several years, which could delay major life milestones like buying a home, starting a family, or even just enjoying financial freedom as newlyweds,” explains Bishop. 
• Credit impact: Applying for a personal loan typically requires a hard credit inquiry, which might cause a small dip in your credit score. If you always make your payments on time, your credit score will improve, but it may not be wise to take out a wedding loan if you’re planning to apply for a mortgage immediately after you get married. If possible, wait until you’ve paid off the wedding loan before seeking a mortgage.

Tips on comparing wedding loans

1. Prequalify to compare APRs and fees: Most lenders that offer wedding loans allow you to prequalify to get an estimated APR. Annual percentage rate (APR) is the annual borrowing cost expressed as a percentage of the loan amount, including interest and upfront fees. Having these estimates makes it easier to compare your options, although prequalification isn’t an offer of credit and the rates and terms of a loan offer may be different. Make sure to consider incidental fees as well.
2. Compare repayment terms: “Interest rate is the obvious one, but length of the loan is equally important,” says Matt Fizell, CFP, Owner and CCO at Harmony Wealth. That’s because the length of the loan plays a role in your monthly payment. Fizell recommends asking yourself, “Will you actually be able to pay it from your cash flow?”
3. Consider whether the lender allows joint applications: You and your fiancé (or fiancée) may want to apply for the loan jointly — you could qualify for a lower interest rate and/or a higher loan amount, especially if you both have good credit.
4. Check out digital tools and perks: Some lenders offer a mobile app or have robust customer service options while others don’t. Some lenders also offer additional perks — for example, SoFi offers free financial planning, a home loan credit, and travel discounts you could use on your honeymoon. 

How to qualify for a wedding loan

Though eligibility requirements vary by lender, you generally need the following to qualify:

• A fair credit score or better: Most personal loan lenders require at least fair credit, or a FICO score of 580 or better. Some lenders, like OneMain Financial and Avant, may consider bad credit borrowers, but you’ll likely pay a high APR. 
• A source of income: You’ll need a source of income to qualify for a wedding loan. Typically, this would come from a job, but you can also qualify if you’re self-employed or receive alimony, disability benefits, interest on your investments, or other sources of income.
• A low debt-to-income ratio: Lenders calculate your debt-to-income (DTI) ratio by dividing your minimum monthly debt payments by your total monthly income. Most lenders prefer a DTI under 36% because it shows a financial capacity for repayment, but some will accept a higher ratio. 

If you’re applying jointly, the lender will consider both applicants’ financial information together. For example, your fiancé’s excellent credit score could make up for your fair credit score, or your high income could increase your approval odds if theirs is too low. You can add this to the list of ways you two balance each other out beautifully. 

5 wedding loan alternatives

1. Save money

If you have the option of extending your engagement, save money in a high-yield savings account, a CD, or similar investment to make the most out of your income and afford the wedding of your dreams. You’ll worry less about debt and credit impact if you can avoid a wedding loan or reduce the amount you need to borrow. 

2. Reduce costs

Bishop says couples on a tight budget can still find ways to pay for a wedding without a loan. “Look into lower-cost wedding options like a courthouse ceremony followed by a casual reception,” she says. “Many couples are embracing micro-weddings, which prioritize quality over quantity while keeping costs in check.”

“Most of the people who come are going to be happy just to be there,” says Fizell. “You'll never have that whole group of people in one place ever again in most cases, and the experience of that is more important than going all out on decorations, food, or some of the checklist items of the wedding.”

3. Credit cards

Rachel Willis of Rachel Willis Events says many of her clients use credit cards to pay for wedding expenses as they go. “Between the ability to pay as you go and the benefits, a lot of clients have mentioned the credit card route to be most beneficial for them.” For example, many credit card issuers offer spending bonuses for new cardholders or 0% APRs on purchases for six to 21 months. Just be aware of high APRs once the promotional period is over and make sure to pay off any remaining balance before then. 

4. Personal line of credit

Some banks and credit unions offer a personal line of credit, which is a revolving credit line that you can borrow from repeatedly without needing to reapply. You make a minimum monthly payment and pay interest only on the amount you borrow. As you make payments, your credit limit replenishes. This can be helpful for couples who don’t know how much their wedding will cost or may need to pay different vendors months apart. 

5. Family loans and gifts

“Parents and family may be willing to help you out, or you could ask for the help in lieu of a gift,” says Fizell. If you borrow more than $10,000 from family, set it up through an online platform, like Pigeon Loans or Zirtue, to reduce relationship tensions and stay on the right side of IRS reporting requirements. 

Read More: Should You Borrow Money from a Family Member?

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