Before considering a moving expense loan, list the costs that must be paid before, during and after the move. Movers, transport, packing supplies and overlapping household bills can fall on different dates. A deposit for a new home needs a separate check of what is required and permitted in your location.
Build a dated moving budget
Ask for written estimates from the service providers you plan to use. Include costs that may be separate from the basic quote, such as storage or additional trips. Compare each due date with money already available. Avoid assuming that a deposit returned from a previous home will arrive in time for the next payment.
Verify apartment and security deposit requirements
Confirm the amount requested, its purpose, payment instructions and any conditions for its return. Rules differ by province and tenancy type. Check with the relevant provincial or territorial tenancy authority when unsure. This page does not state that a landlord can demand a particular deposit or that a loan changes your tenancy rights.
Separate a move from ongoing housing costs
Distinguish one-time moving expenses from rent, utilities and other bills that will continue in the new home. Consider whether the new monthly budget can absorb a loan repayment as well. If the gap will recur after the move, review the broader housing budget before adding borrowing.
Compare confirmed offers
Ask a moving provider whether payment options are available, and compare any arrangement with lender offers using total cost and due dates. Clarify fees and what happens if the move is delayed or cancelled. A general loan should not be presented as rental assistance or a guarantee of securing an apartment.
Before applying
Confirm the amount needed after available funds, review privacy terms and ask about eligibility and provincial availability. Do not assume approval or funding by moving day. Accept an offer only after reviewing the repayment obligation and how it fits your circumstances.
For further reading, see the FCAC guidance on making a budget.
Confirm the terms of any offer before accepting. Approval, terms and availability vary by province. Not all applicants qualify.
This article provides general information about borrowing decisions, not personalized financial advice.