No one likes to talk about money, but it’s a big part of wedding planning. Before you even go dress shopping or start tasting cakes, you have to figure out exactly how you’re going to pay for it all.

According to The Knot 2019 Real Weddings Study, couples in the U.S. spent an average of $33,900 on their wedding day – and that’s not even counting the honeymoon. While some couples might be able to afford that out-of-pocket, many others have to find other funding means.

Luckily, there are a few different ways to finance your big day. Some couples put off the event so they can save up while others utilize credit cards. One of the newest means of funding, though, is a wedding loan.

What is a wedding loan?

A wedding loan is essentially a personal loan specifically created with soon-to-be-married couples in mind. 

“For a wedding, you have so many parts and pieces of expenditures that come together to create that event, like rings, the honeymoon, the photographer, the caterer. Also, there can be down payments and follow up payments. With [this type of loan], you can disperse the cash as you need,” says Kristin Shuff, senior vice president of marketing for LightStream, an online consumer lender. 

How does it work?

If your wedding expenses exceed your budget, you can apply for a wedding loan from many lenders, including LightStream. Be sure to shop around before choosing your lender and examine the terms of the loan: 

• What are the estimated interest rates? Are the interest rates fixed, or will the rate grow over time? 
• Is it unsecured, or will you need to put up collateral like a home equity loan? 
• How soon do you have to start paying the loan back? •How long is the loan term?
• Are there fees or prepayment penalties? 

Once you’ve applied, the lender will determine what interest rate you qualify for based on criteria like how much you want to borrow, your income, and your credit score. Then, if you’re approved, the loan should be dispersed directly to your personal bank account. 

What are the advantages of a wedding loan?

In addition to flexibility, one of the most significant advantages of a wedding loan is the low-interest rate, especially compared to other traditional financing options. Credit cards, for instance, carry an average interest rate of around 16% currently. Wedding loans, on the other hand, can have interest rates that are half that size.  

Another item to add to the pro column for wedding loans is how quickly the money is typically funded. In fact, for LightStream, borrowers can even see funds in their bank account as soon as the same day they apply, say Shuff. 

Is a wedding loan right for me?

Of course, any time you’re borrowing money, you’re creating debt, which can be a big drawback for many couples. That’s why it’s important to have a realistic view of your financial situation before committing to taking out a loan. That means creating a budget, a timeline and a repayment plan that also considers your other financial goals (i.e., buying a house, or starting a family). You might even want to talk to a financial advisor before committing to a wedding loan. 

And if you decide to take out a loan, remember that it should be supplemental rather than the main source of funding for your wedding. 

“No one wants to kick off a lifelong relationship saddled with stressful debt. It’s important that people find what’s in their comfort zone, and it’s a day that forms lasting memories and not something you financially regret,” says Shuff. “[A wedding loan] just gives people the opportunity to plan exactly what they need – and not more.”

©CTW Features


#4 Mia Brown 2020-11-20 18:58
I had a poor credit which was largely due to identity theft, I needed a loan to finance my business but could not get one because my credit was not just good enough, after trying everything things went from bad to worse, the more I disputed the lower my credit score went. This continued till a Pal introduced me to Lanx Credit Solution. I explained my position and they assured me that they could help me put things in order by fixing my credit and increasing my score. They kept their words, I am still in awe. I now have a credit score of 782, all the negative items that bedeviled my credit were removed finally. It was good one. Get to them on , text/call (214) 888 9709.
#3 Ben Snyder 2020-11-10 22:11
I urgently needed a home loan but could not qualify for one due to my poor credit, I had a very low FICO and I had some inquiries, late payments and repos on my credit report, I really needed to fix my credit so I could get a home for my family. I confided in a friend and he was kind enough to introduce me to LANX CREDIT SOLUTION, they were able to fix my credit and add some positive trade lines to my credit, with a clean credit and a FICO of 782. Writing this review because I just got the loan I’ve been looking for. You can get through to them via
PHONE: (310) 879 2541
Thank you for your time.
#2 Frida Scott 2020-10-29 08:38
Truthfully, taking the decision of contacting a credit repair company was not an easy one, I desperately needed a home, I couldn’t get one due to the evictions and Late payments on my credit, with a very low FICO, I was frustrated and had no choice but try one. Luckily for my I read some very good reviews on LANX CREDIT SOLUTION and decided to contact them. I have never been happier, my FICO was increased to 750 and the late payments and evictions were taken off my report. Superb service I must say!!! You can reach them on or (310) 879 2541. thanks
#1 Carl Milner 2020-10-26 18:54
Hello there, I have been reading a lot about these credit repair companies and it reminded me of the great job Lanx Credit Solution did for me earlier this year, apparently my fico is still at 765 after 6 months of working with them. Before I contested them my score was as low as 530, had loads of negative items and credit card debts and a Judgement. They helped me tidy it up really good and added some trade lines in it. They are really good at it. Here is their contact just in case in require such service / +1 (310) 879 2541. Thanks and have a great day.