Does Wells Fargo do home improvement loans? This question is about Wells Fargo

Does Wells Fargo do home improvement loans?

This question is about Wells Fargo

Rick Bormin, Personal Loans Moderator

@rhandoo2020 • 09/24/21 This answer was first published on 09/24/21. For the most current information about a financial product, you should always check and confirm accuracy with the offering financial institution. Editorial and user-generated content is not provided, reviewed or endorsed by any company.

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Yes, Wells Fargo does home improvement loans. You can take out a personal loan from Wells Fargo and use it to pay for home improvement expenses, such as remodeling a kitchen, finishing a basement, putting on siding or many other projects. Wells Fargo does not specifically refer to their loans as “home improvement loans,” so you’ll need to take out a general-purpose personal loan.

Quick Facts About Wells Fargo Home Improvement Loans

APR: 7.49% - 23.74%

Origination fee: $0

Loan amount: $3,000 to $100,000

Payoff period: 12 to 84 months

Credit score required: 660

Before you apply for a Wells Fargo home improvement loan, it’s a good idea to compare the offer to WalletHub’s editors’ picks for the best home improvement loans. That way, you’ll be able to see how the offer stacks up against loans from leading competitors.

What's the minimum credit score for a home improvement loan?

The minimum credit score for a home improvement loan is 660 for most lenders. While lenders typically don’t offer “home improvement loans” in particular, they offer personal loans that can be used for almost any purpose, including home improvements. And most personal loan providers require a credit score of 660+. That’s not too difficult to attain, either – it’s within the fair credit range and below the average American’s credit score.

However, not all lenders look for...

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How does a home improvement loan work?

Home improvement loans give homeowners the funds needed to complete projects related to maintaining or increasing the value of a home and the surrounding property, such as remodeling a room, putting on a home addition, or replacing a roof. Although they have a unique purpose, loans for home improvement function just like most other loans. The borrower receives a lump sum of money and must pay it back, along with interest, over a certain number...

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How can you get home improvement loans with no equity?

There are plenty of home improvement loans with no equity needed. Only home equity loans and home equity lines of credit require the borrower to use the equity in their home. The best way to get a home improvement loan with no equity is by applying for an unsecured personal loan. Personal loans base eligibility on your credit and income, so you don’t need to own property worth a certain amount of money to take...

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