Discover the right home loan for your needs

What kind of property do you have?

Learn about the different types of home loans available for financing renovations

This is an education page intended to provide valuable information on different types of home loans along with pros and cons for each

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Take a Quiz

Don't know what loan works for you? take this quiz and find out.

Apply for a Loan

Apply for a Loan

Are you ready to take on that home remodeling project? Apply for a home improvement loan here. Kukun partnered with few lenders to make the process hassle free.

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Compare Loans

Compare the pros and cons of each loan type.

Conventional “Fixed Rate” Mortgage

Fixed Rate Home

Fixed Rate Mortgages have interest rates that are fixed, and do not change over the life of the loan.

Conventional “Adjustable Rate” Mortgage

Adjustable Rate Home

Adjustable Rate Mortgages (ARM) are 30-years loans that have interest rates and payments that change periodically (i.e. monthly, semi-annually or annually).

Conventional “Hybrid ARM”

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

FHA 203K
Rehabilitation Loan

Government guaranteed loan designed to provide consumers with financing to purchase (or refinance) a property in need of renovations and to simultaneously finance the cost of the improvements in the loan.The amount of the loan is based upon the increased value of the property after the improvements are completed.

home rehab loan
rehab icon
fannie loan

Fannie Mae HomeStyle
Renovation Loan

Similar to FHA 203K this loan allows borrowers to purchase, or refinance, a property in need of repairs or improvements, and to finance the cost of the renovations into the loan.The amount of loan is based upon the “after improved value”. This loan is considered less restrictive than FHA 203K loans on allowable and required repairs and improvements. It is available for owner-occupied, second homes and investment properties.

home fannie loan

Home Equity Line of
Credit - HELOC

Usually referred to as a HELOC, is a revolving line of credit that is secured by residential property and used to access the existing equity in the property. It is usually a 2nd mortgage as it is obtained in addition to an existing mortgage when the borrower does not want to refinance or payoff an existing mortgage.

heloc loan
home heloc loan
home equity loan

Home Equity Loan

A fixed loan amount and term, secured by residential property, that is used to access the existing equity in the property. Most commonly with a fixed interest rate and fixed monthly principal & interest payments. It is a 2nd mortgage used in addition to an existing mortgage when the borrower does not want to refinance or payoff the existing mortgage.

home equity loan

Unsecured Personal Loans

A personal loan is a lumpsum fixed loan amount given to a qualified borrower that is not secured by residential property or collateral. The amount of the loan varies between $2,500 and $100,000, and is highly dependent upon the borrower’s credit score, qualifications and ability to repay the loan. The term, or length of the loan, varies between 24 month and 72 months. The primary benefit of this type of loan is ease of application and speed.

home unsecured loan
home unsecured loan