Getting a Loan for Home Improvement

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ADVERTISER DISCLOSURE
ADVERTISER DISCLOSURE

Updated for September, 2021

If you want to improve or repair your home, a home improvement loan might just be your best choice. Here’s why:

Home improvement loans allow you to borrow money at low, fixed rates with long-term repayment plans.

Loans Are Better Than Credit Cards

Simply put, personal loans have lower interest rates than credit cards. Therefore, it’s much wiser to finance a home remodel or improvement with a personal loan as opposed to a credit card.

The average credit card interest rate is north of 25%. That’s mighty expensive, considering personal loan rates can be as low as 3.49% APR!

By using a loan to finance your home improvement needs, you’ll save money, but there are also other benefits. For one, it can help BOOST your credit score.

Home Improvement Loans will Improve Your Credit Score

Assuming you repay your home improvement loan on-time every month, your credit score will actually improve. Even if it’s already in the good/excellent range!

Timely repayment of a loan is a crucial component to any credit score. The major credit firms view this very positively. Often times, it’s not possible to reach a perfect 850 credit score without loans in addition to credit cards.

Eligible Home Renovation Loan Uses:

  • Kitchen remodels
  • Bathroom repairs
  • Garage doors/renovation
  • Add-ons and expansions
  • Emergency repairs
  • Virtually anything else

How Do I Find a Home Improvement Loan?

The lenders featured on this page offer the best deals for home improvement loans. It only takes a few minutes to find your unique rate. Applying is quick and easy, and it won’t harm your credit score. No hard credit pull is performed.

Best Company for Home Improvement Loans:

LendingTree
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LendingTree Highlights

  • 100% free to get your personal loan rate with LendingTree

  • Great for borrowers with fair/good/excellent credit

  • LendingTree has been in business since 1996
  • Online personal loan pre-qualification process takes just a few minutes on average!

  • Very simple process for finding your unique personal loan rate ranging from 2.49% to 35.99% APR

  • No impact to your credit score for applying
IMPORTANT LENDINGTREE DISCLOSURE: LendingTree NMLS #1136 is NOT a direct lender.
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