Turn Your Dream Wedding Into a Reality
Finance your dream wedding, engagement, or honeymoon with the help of a low cost personal wedding loan.
Finance your dream wedding, engagement, or honeymoon with the help of a low cost personal wedding loan.
Reception venues, wedding photographers, event planners, bands/DJs, florists, catering. It's no surprise that wedding costs can climb quickly. With the average wedding in the United States reaching $35k many couples are opting to use personal loans to partially or fully fund their wedding plans.
The perfect engagement ring displays your love and commitment to your future partner, however this commitment is not without significant cost. The old maxim of spending 2-3 months of your salary on a ring is still commonly followed today. Although with rising levels of student debt, many are choosing personal loans to help fund their purchase rather than 100% cash.
When the wedding is complete, it's time to celebrate the beginning your life journey together with the perfect honeymoon. Exotic vacations abroad and overseas have begun to increase in popularity, as due the spending on these luxury vacations. Many couples understand that honeymoon's are not the time to be cheap, so they choose to use a personal loan to maximize their honeymoon experience and create memories that will last a lifetime.
As wedding prices have continued to rise over the past decade (currently averaging $34,000) and social media site like Pinterest and Instagram has popularized elaborate weddings, many couples are opting to use personal loans as part of their financing strategy. These wedding loans are unsecured personal loans that are structured such that you receive the funds in a single lump sum, and then make fixed payments to repay the wedding loan over time. Typically wedding loans are structured in a 3 to 5 year payment term. Payments on your loan continue until your personal wedding loan’s full term is reached or you’ve repaid the loan balance in it’s entirety.
Depending on your credit history and personal financial standing many lenders will offer personal loans of up to $50,000 for a 3 to 5 year term. Most lenders can send the funds within a single business day and offer penalty-free repayments. Although specific terms are determined by the direct lender of your loan.
Checking to see if you quality for a wedding loan will produce a soft credit inquiry which will be visible on your credit report and will not negatively impact your credit score. Some direct lenders may perform a hard credit inquiry once you decide to accept the terms and move forward with the loan which may have an impact on your credit score. Once a wedding loan is issued, making timely payment can help build your credit history and improve your overall credit score and standing.
Based on your request and their determination of your credit worthiness, a loan offer will be extended which you can choose to accept or decline.
Of course! While wedding loans can be a great option for some, they are not for everyone. Many couples choose to ask their families for funds or even have the guests cover part of the wedding costs. Low cost wedding options are also available for those looking for a modest wedding to save money.
Does WeddingLoans.com issue wedding loans?
No, currently WeddingLoans.com does not issue wedding loans directly. Instead we match you within our network of direct lending partners based on your attributes and needs to find the right fit for all parties.