Navegó a una página que no está disponible en español en este momento. Seleccione el enlace si desea ver otro contenido en español.

Página principal

Home Improvement Lending Center

Ready. Set. Improve.

Whether your project is large or small, we can help you find the financing option right for you

Your home is an important part of your life. Our home improvement financing options can help you change your home now and pay for it over time. Whether necessary or optional, a small weekend project, or a large renovation, we can help you finance your vision.

Myth

If I have limited home equity, I won’t be able to finance a home improvement project.

Truth

A variety of home renovation and personal loan options are available for those with limited or no home equity.

View financing options

Consider all your options so you can make an informed decision. The following questions can help get you started:

  • How much do you expect to borrow for this project and how long do you estimate it will take to complete?
  • What type of repayment options fit your budget and how long do you plan to take to pay off what you borrow?
  • Does one-time access to funds or ongoing access to credit better fit your home improvement needs?
  • Do you plan on hiring a contractor to renovate your home or will you complete the project yourself?

Your home improvement ideas are as unique as you are and our range of financing options can help you realize those ideas in the way that makes the most sense for you. Narrow down your options using the information below and remember our financing representatives are available to answer any questions.

Loan Type 
Typical Amount Ongoing access to funds Key features and benefits
Secured - Mortgage and home equity options
Purchase & RenovateSM Loan
$5,000 +
No
  • One application, one loan approval, one closing, and one monthly payment
  • Purchase and improve a home with one loan
Refinance & RenovateSM Loan
$5,000 +
No
  • Available for those with limited home equity
  • Refinance and improve a home with one loan
Cash-Out Refinance
Varies
No
  • Pays off current mortgage balance
  • Provides additional funds for other purposes
Home Equity Line of Credit
$20,000 +
Yes
  • Flexibility to change between a fixed-rate advance and variable rate
  • Interest may be tax deductible
Home Equity Loan
$10,000 +
No
  • Fixed rate, fixed term, and fixed payments
  • Interest may be tax deductible
Unsecured - Personal credit options
Credit Cards
$500 +
Yes
  • Earn rewards for home improvement and day-to-day net purchases
  • Use for large or small purchases
Personal Loan
$3,000 +
No
  • Fixed rate, fixed term, and fixed payments
  • Quick credit decision and often access to funds within 24 hours
Personal Line of Credit
$3,000 +
Yes
  • No cash advance or balance transfer fee
  • Quick credit decision and access to funds in as little as 1 business day

Making improvements to your home can be exciting and rewarding. Proper planning helps you prioritize your efforts to create a home that fits your wants and needs. Remember that not all home improvement projects increase the overall value of your home, so be sure to carefully consider your reasons before moving forward.

How do I define the goals of my home improvement project?

To help define your project:

  • Create a list of things you would like to accomplish.
  • Prioritize your list in the order of most important to least important.

Remember, your budget might not allow you to complete everything on your list so it’s important to determine your priorities.

How do I create a budget?

To create a basic budget for your project:

  • Calculate how much you can contribute to the project.
  • Determine how much you may need to borrow.

If you obtain financing for your home improvement, it is an additional expense beyond your current monthly mortgage. Be sure you can comfortably manage the payment.

How do I select a contractor?

Certain financing options require you to hire a contractor to complete the renovations. When selecting a contractor:

  • The contractor with the lowest price may not always be the right person for the job. Balance long-term quality against cost.
  • Select a contractor who has proven expertise in your type of project and the appropriate licenses and insurance. Always check references and the Better Business Bureau.
  • If your use our Purchase & RenovateSM or Refinance & RenovateSM loan, we’ll verify the contractor’s credentials. The detailed check includes supplier references, any contractor liens and bankruptcies, and confirms insurance and licensing. (This check is not included with a home equity loan or line of credit.)

How do I decide if my home improvement is worth it?

Only you can decide if your home improvement or repair is worth it to you. Some homeowners place a higher personal value on enjoying their living space while they occupy the home; for some, it is important to recover a greater percentage of renovation costs when they sell the home. Remember, a number of factors may determine whether you recover some or all of your expenses.
 

Want to learn more about your home improvement financing options?

Call 1-877-571-0583

If you are a servicemember on active duty, prior to seeking a refinance of your existing mortgage loan, please consult with your legal advisor regarding the loss of any benefits you are entitled to under the Servicemembers Civil Relief Act or applicable state law.