• How it works
  • Resources
  • About

Learn about the best home
improvement loan options

If you’ve just finished planning your home improvement project and estimated your renovation costs, you already know that one of the crucial aspects is financing. Home improvement loans are the best solution when your funds are limited. Learn about the best home improvement loan types to select an option that meets all your needs.

Home Equity Line of Credit (HELOC)

HELOC is a revolving line of credit secured by residential property. Homeowners can use the credit to access the existing equity in their property. HELOC is usually a second mortgage — borrowers obtain the line of credit in addition to an existing mortgage when they do not want to refinance or pay off an existing mortgage. Borrowers can draw (borrow) any amount up to their credit limit, as needed. The term of these variable rate loans ranges from 10 to 30 years. Learn more

Heloc loan
Heloc loan 1
personal Loan 1

Personal Loan

A personal loan is unsecured, which means it is not secured by any residential property or collateral. Qualified borrowers receive a fixed amount lump sum. The exact amount is highly dependent on the borrower’s credit score, qualifications, and capability to repay the loan. The term or length of an unsecured personal loan can vary between 24 months and 72 months. Interest rate and monthly payments are fixed. Learn more

persona loan

FHA 203K Loan

An FHA 203K Rehabilitation Loan is a mortgage insured by the Department of Housing and Urban Development (HUD). It is designed to provide consumers with financing to buy (or refinance) a property in need of renovations and to fund the improvements. Learn more

fha loan icon
FHA 203k loan

Other Types of Loans

In addition to the above options, there are several other types of loans to finance your home renovation project. From mortgages to home equity, check out the best home improvement loans to pick the right loan and lender for your situation.

Conventional “Fixed Rate” Mortgage

In addition to the above options, there are several other types of loans to finance your home renovation project. From mortgages to home equity, check out the best home improvement loans to pick the right loan and lender for your situation.

Learn more right-arrow
Conventional “Adjustable Rate” Mortgage

Adjustable rate mortgages (ARM) are 30-year loans with periodically-changing interest rates and payments (i.e. monthly, semi-annually, or annually).

Learn more right-arrow
Conventional “Hybrid ARM”

A Hybrid ARM is fixed for an initial period of time and then converts to an adjustable rate mortgage.

Learn more right-arrow
Fannie Mae HomeStyle Renovation Loan

A Fannie Mae HomeStyle Renovation Loan allows borrowers to purchase or refinance a property in need of repairs or improvements and to fund the cost of the renovations.

Learn more right-arrow
FHA 203k Loan

An FHA 203K Rehabilitation Loan is a mortgage insured by the Department of Housing and Urban Development (HUD). It is designed to provide consumers with financing to buy (or refinance) a property in need of renovations and to fund the improvements.

Learn more right-arrow
compare icon

Compare Loans

Do a quick comparison of different types of home improvement loan options and find the best loan for your financial needs

Compare now
compare icon

Get the right loan

Answer a few questions to find out the loan that best fits your needs. It's quick and easy!

Find the right loan