How We Get Paid

We want this to be a “win-win” situation. So we only want to get paid if we bring you value in the form of finding a personal finance option that works for you. Not by selling your data. Credible receives compensation by the lender if you finish the loan process and a loan is disbursed. The amount of our compensation does not impact how and where lenders appear on our site, and Credible charges you no fees of any sort. Some lenders may take traffic sources into account when offering credit terms.

Home improvement loans

How We Get Paid

We want this to be a “win-win” situation. So we only want to get paid if we bring you value in the form of finding a personal finance option that works for you. Not by selling your data. Credible receives compensation by the lender if you finish the loan process and a loan is disbursed. The amount of our compensation does not impact how and where lenders appear on our site, and Credible charges you no fees of any sort. Some lenders may take traffic sources into account when offering credit terms.

Turn your house into a dream home today

Rates from 4.99% APR*

Loan amounts from $600 to $100,000

Check rates from multiple lenders in just 2 minutes

Checking rates won’t affect your credit

Get a decision in minutes

Fast process, low rates, no stress

rates

Check rates from multiple lenders

Compare competitive rates in two minutes with no commitment.

application

Complete your application

After you’ve chosen a lender, complete your application online.

loan

Close your loan

Sign your documents and relax as the funds get deposited into your account.

Check rates from top lenders

Advertiser Disclosure
The rates that appear are from companies which Credible receives compensation. This compensation does not impact how or where products appear within the table. The rates and information shown do not include all financial service providers or all of the displayed lender's available services and product offerings.
Advertiser Disclosure
The rates that appear are from companies which Credible receives compensation. This compensation does not impact how or where products appear within the table. The rates and information shown do not include all financial service providers or all of the displayed lender's available services and product offerings.
LenderRates from (APR)Loan termLoan amount
Avant
9.95% - 35.99%2 - 5 yearsUp to $35,000Show detailsCheck Rate

Show details

Axos
6.49% - 29.99%1 - 5 yearsUp to $35,000Show detailsCheck Rate

Show details

Best Egg
5.99% - 29.99%3, 5 yearsUp to $35,000Show detailsCheck Rate

Show details

Discover
Personal Loans
6.99% - 24.99%3 - 7 yearsUp to $35,000Show detailsCheck Rate

Show details

FreedomPlus
7.99% - 29.99%2 - 5 yearsUp to $50,000Show detailsCheck Rate

Show details

LendingClub
10.68% - 35.89%3, 5 yearsUp to $40,000Show detailsCheck Rate

Show details

LendingPoint
15.49% - 35.99%2 - 5 yearsUp to $25,000Show detailsCheck Rate

Show details

LightStream
3.99% - 19.99%2 - 7 yearsUp to $100,000Show detailsCheck Rate

Show details

Marcus by Goldman Sachs
6.99% - 19.99%3 - 6 yearsUp to $40,000Show detailsCheck Rate

Show details

OneMain Financial
18.00% - 35.99%2 - 5 yearsUp to $20,000Show detailsCheck Rate

Show details

PenFed
5.99% - 17.99%1 - 5 yearsUp to $35,000Show detailsCheck Rate

Show details

Prosper
6.95% - 35.99%3, 5 yearsUp to $40,000Show detailsCheck Rate

Show details

SoFi
5.99% - 18.83%2 - 7 yearsUp to $100,000Show detailsCheck Rate

Show details

Universal Credit
10.97% - 35.93%3, 5 yearsUp to $40,000Show detailsCheck Rate

Show details

Upgrade
5.94% - 35.97%3, 5 yearsUp to $50,000Show detailsCheck Rate

Show details

Upstart
8.27% - 35.99%3, 5 yearsUp to $50,000Show detailsCheck Rate

Show details

All APRs reflect autopay and loyalty discounts where available. Read more about rates and terms*

Here’s what customers are saying about Credible

trustpilot 5 stars

Susan took out a home renovation loan

Credible connected me with the perfect lender. The process was quick and seamless.

See review on Trustpilot
trustpilot 5 stars

Ann chose Credible for her home improvement project

Working with Credible was quite a pleasant experience. The company makes the entire process very easy. I was especially impressed with the customer service.

See review on Trustpilot
trustpilot 5 stars

Hector was approved nearly instantly

I had a very positive experience. I applied for a home improvement personal loan with around 740 credit. I was approved nearly instantly with no further documentation or phone calls... Almost too easy.

See review on Trustpilot

Why use a personal loan to renovate your home?

No collateral

Home improvement loans are unsecured so you can keep the equity in your home.

Boost home value

Make home expansions and renovations to increase the value of your home.

Get started faster

Check your rate in two minutes and receive funds as soon as the same business day.

Still have questions?

Our Client Success Team is always here to help

Client Success
  • Mon - Thurs

    6am – 6pm PT

  • Fri

    6am – 4pm PT

  • Sat - Sun

    7am – 4pm PT

By Jamie Young

Jamie Young is a Credible authority on personal finance. Her work has appeared on Time, CBS News, Huffington Post, Business Insider, AOL, MSN, and more.
Full bio

& Matt Carter

Matt Carter is a writer, editor and student loan authority for Credible. His work has been featured by CNBC, CNN Money, Consumer Reports, Money, USA Today, U.S. News & World Report, The New York Times, The Wall Street Journal, The Washington Post, Yahoo Finance and more.
Full bio

Updated February 16, 2021

Generally, no — personal loans are still widely available despite the COVID-19 pandemic, which could be especially valuable if you need help making ends meet. You’ll still typically need good credit and verifiable income to get approved for a loan with most lenders, including online lenders, banks, and credit unions. Keep in mind that some lenders might have more stringent requirements to ensure that borrowers can repay their loans, though.

Additionally, some lenders are offering coronavirus hardship loans that might be easier to qualify for if the pandemic has impacted your employment. These small emergency loans might come with low or even 0% interest, depending on the lender.

Home improvement loans can be used for repairing, remodeling, or improving your home or the property it sits on. These are loans used to help you finance home improvements so you can spread payments out over time. There are two basic types of home improvement loans:

  • Unsecured loans: Don’t require collateral (offered by Credible)

  • Secured loans: Require you to put your home up as collateral

Examples of secured loans for home improvement projects include home equity loans (also known as a second mortgage), home equity lines of credit (HELOCs), and cash-out mortgage refinancing.

Personal loan options through Credible:

  • No collateral needed

  • Borrow up to $100,000

  • You may be able to receive funds in as little as the next day

  • Typically have low fees (e.g. origination fees between 0% to 8%)

Common loan alternatives (home equity line of credit, home equity loan, cash-out refinance):

  1. You'll have to put your home up as collateral

  2. You can only borrow up to a percentage of your equity in your home

  3. Takes approximately two to six weeks to close your loan

  4. Typically have many fees (e.g. annual fee, origination fee, and other closing costs)

Unsecured home improvement loans are loans that don’t require collateral. They offer flexible repayment options (typically two to seven years) and fixed rates (as opposed to variable rates) so your project can stay on track — and so can your budget.

Secured home improvement loans (like home equity loans, HELOCs, and a cash-out refinance) require you to use your home's equity as collateral. Because you’re putting your home’s equity on the line, these can sometimes have lower APR ranges.

While you don't need excellent credit to qualify for either type of loan (there are options for bad credit and fair credit borrowers), unsecured personal loans can be funded in days, whereas, the other alternatives typically require appraisals and therefore can typically take two to six weeks to close your loan and funds to be disbursed.

Read More: Personal Loans vs. Home Equity Loans

Home renovation and improvement projects can increase the value of your home by:

  1. Increasing the square footage: A room addition (or the addition of another floor) that increases the size of your home can increase its value.

  2. Cutting your energy bill: Installing double-pane windows and insulation or adding rooftop solar panels can help cut your energy bill which can add to your home's value.

  3. Keeping it modern: A well-maintained home can command a higher asking price, so home repairs and modern remodeling can also be a good investment.

  4. Boosting curb appeal: Updating your landscaping or home exterior can make your home more attractive to prospective buyers.

Estimate your monthly payments with a personal loan calculator: Personal Loan Calculator

To qualify for a home improvement loan you’ll need to meet the lender’s minimum credit score, credit history, and income requirements. Requesting rates from multiple lenders allows you to compare interest rates, fees, and other loan details — and find the best loan for your situation.

When you compare lenders through Credible, we do the heavy lifting for you by showing you prequalified rates from lenders in as little as two minutes without affecting your credit score. Once you’ve selected a lender, completed the application process, and qualified, you can sign documents online and get the funds deposited right into your account.

Home improvement loans offered by banks, credit unions, and online lenders may be approved the same day you submit your application. In some cases, funds will be available in your bank account as soon as the next business day and typically within seven business days.

If you’re applying for a loan that's backed by your home's equity, the process can take longer — sometimes weeks. You’ll usually need a home appraisal that’s used to determine how much you can borrow.

It only takes a few minutes to compare prequalified rates from lenders offering personal loans or cash-out mortgage refinancing on the Credible marketplace.

Read More: Lenders Offering the Best Personal Loans

None of Credible’s partner lenders charge a prepayment penalty (a fee for paying your loan off early).

However, if you're getting a personal loan from a lender not on the Credible platform, read the fine print first, so you know whether or not you'll be charged a prepayment fee.

To find the best lender, you should compare multiple lenders — take a look at the rates, fees, and terms to decide which loan is best for your personal finance situation and for your home repairs. Typically, you want to find a personal loan with low, fixed rates and minimal fees.

Credible evaluated loan and lender data points for 22 lenders in 10 categories to identify some of the best personal loan companies.

Credible's partner lenders:

Read More: Who Are the Best Personal Loan Lenders?

Best Rate Guarantee