Getting a Loan for Home Improvement

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ADVERTISER DISCLOSURE
ADVERTISER DISCLOSURE

Updated for November, 2020

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:

Credible
GET MY RATE visit Credible
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Credible Highlights

  • Click "GET MY RATE" to find your unique personal loan rate on Credible's secure site

  • Personalized rates from up to 15 vetted lenders in 2 minutes, ranging from 3.49% APR to 35.99% APR, all for free

  • Credible is best for those who value dedicated customer service throughout the loan process
  • Credible will give you $200 bonus if you close with a better rate elsewhere*

  • Outstanding customer service to help with your loan requests

  • No impact to your credit score to check personalized rates
*See Credible’s site for full Terms & Conditions on the personal loans “best rate guarantee” deal.
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