Grace Enfield, Content Writer
@grace_enfield
You can borrow as much as $100,000 with a home improvement loan if you have a very high credit score and income. You may be able to borrow even more than that if you get a home equity loan, but the exact amount depends on your home’s value minus how much you owe on the mortgage. Keep in mind that if you get a home equity loan, you’ll have to use your home as collateral.
The best home improvement loans are personal loans from LightStream because the company has loan amounts of $5,000 - $100,000, APRs of 7.99% - 25.99% and repayment periods of 24 - 84 months. You will need a credit score of at least 660 to qualify, according to multiple third-party sources.
LightStream isn’t the only loan provider with good terms, though. For your convenience, below is a comparison of the best home improvement loans.
Best Home Improvement Loans
| Provider | Loan Type | Loan Amounts | Repayment Periods |
| Personal loan | $5,000 - $100,000 | 24 - 84 months | |
| Personal loan | $5,000 - $100,000 | 24 - 84 months | |
| Personal loan | $1,000 - $50,000 | 24-84 months | |
| Personal loan | $2,000 - $50,000 | Up to 60 months | |
| Personal loan | $1,000 - $40,000 | 36 or 60 months | |
| Personal loan | $2,000 - $50,000 | 24 or 36 or 48 or 60 months | |
| Personal loan | $2,000 - $36,500 | 24 - 72 months | |
| Home equity loan | $35,000 - $300,000 | 10, 15, 20 or 30 years | |
| Home equity loan | $10,000 - $250,000 | 7, 10, 15 or 20 years | |
| Home equity loan | Starting at $5,000 | 5, 10, 15 or 20 years |
To read more about the top-ranked offers, check out WalletHub’s picks for the best home improvement loans and the best home equity loans. If you decide to get a personal loan for home improvements, you can estimate your potential rates with our free pre-qualification tool.
People also ask
What is the cheapest way to borrow money for home improvements?
The cheapest way to borrow money for home improvements is to ask for a loan from a friend or family member. If you borrow money from someone you trust, there is a good chance that their terms will be better than if you get a conventional loan or use a credit card. You can see other cheap ways to borrow money for home improvements below.
Cheap Ways to Borrow Money for Home Improvements
- ...
What is the monthly payment on a $60,000 personal loan?
The monthly payment on a $60,000 loan ranges from $820 to $6,028, depending on the APR and how long the loan lasts. For example, if you take out a $60,000 loan for one year with an APR of 36%, your monthly payment will be $6,028. But if you take out a $60,000 loan for seven years with an APR of 4%, your monthly payment will be $820.
Almost all personal loans offer...
read full answerDid we answer your question?