Home Improvement Loans

Get cash for home repairs, remodeling projects and more without using equity in your home.

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  • Loans up to $35,000 available*
  • Competitive interest rates
  • Flexible terms and no application fees with approved credit
  • Secured or unsecured personal loan

Gerri Detweiler

Personal Loans

Whether it's because you want to sell your home, upgrade your existing one, or buy a property to flip it, you may be in need of extra funds to complete the home improvements you have in mind.

Home improvement loans are, as the name implies, offered by lenders to consumers who plan to use that money to fund some sort of renovation or addition that they otherwise might not have the money to pay for it now. But keep in mind that while a lender may advertise that it offers loans for home improvements, in reality these loans can usually be used for any purpose. In other words, it is doubtful that the lender will expect you to prove you used the funds for new kitchen appliances rather than to go out to dinner!

There are two main types of home improvement loans: installment loans and revolving loans. With an installment loan, borrowers receive a large lump sum at the beginning of the project and then make payments until it is paid off in full. With a revolving loan or line of credit, borrowers take out the amount they need as they need it, up to the credit limit, and can borrow more later if necessary.

In addition, loans may be secured or unsecured. Secured loans require borrowers to pledge their homes as collateral, while unsecured loans don't. If you want a secured loan you must have at least the same amount of equity as the loan amount you are requesting. This may be impossible if your home's value has dropped and you are underwater. But if you do qualify, the rates on these loans are often lower than secured loans.

To qualify for one of these loans, you should expect the lender to review your credit score as part of the decision. The best rates go to consumers with good credit scores. When you are shopping for home improvement loans, don't limit yourself to just loans advertised for that purpose. You may get a better deal from a personal loan that can be used for any purpose, for example. You can even use a low-rate credit card to fund home renovations.

Finally, if you do get a home improvement loan, be sure to ask your tax professional if you can deduct the interest.






Disclaimer: The people depicted are models accompanied by a testimonial for illustrative purposes only.


1. APRs presented are estimated and were created based upon information entered by the consumer and through analysis of information publicly available at Prosper.com. The estimated APR presented does not bind Prosper. The range of APR available through Prosper is 6.68% to 35.36% . Only borrowers with excellent credit qualify for the lowest rate available. Your actual APR depends upon credit score, Prosper Rating, loan amount, loan term, credit usage and history. All loans are subject to credit review and approval.
2. If you receive a $5,000 36-month loan at an interest rate of 6.03% with a 1.11% origination fee of $55.50, you will receive a loan amount of $4,944.50 and will make 36 monthly payments of approximately $152.18 at a 6.78% APR. In the case of a $15,000 60-month loan at an interest rate of 7.90% with a 3.00% origination fee of $450.00, you will receive a loan amount of $14,550.00 and will make 60 monthly payments of approximately $303.43 at a 9.20% APR. Annual Percentage Rates presented are estimated and were created based upon information entered by the consumer and through analysis of information publicly available at lendingclub.com. The estimated APR presented does not bind Lending Club or any lender originating loans through the Lending Club platform. The range of APR available through Lending Club is 6.68% to 29.99%. Only borrowers with excellent credit will qualify for the lowest rate available. Your actual APR depends upon credit score, loan amount, loan term, credit usage and history. All loans are subject to credit review and approval.
3. APRs presented are estimated and were created based upon information entered by the consumer. The estimated APR presented does not bind Vouch. Only borrowers with excellent credit are considered for the lowest rate available. Your actual APR depends upon credit score, loan amount, loan term, credit usage and history. A strong Vouch network may lower your APR. Vouch borrowers must be at least 18 years old, a legal U.S. resident with a verifiable bank account, must have a FICO score of 600 or greater, and must be current on all existing accounts and not in bankruptcy or foreclosure proceedings. All loans are subject to credit review and approval.
* Not a guaranteed offer. All loans subject to our normal credit policies. Minimum and maximum loan amounts may vary according to state law.
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