Home Improvement Loans

You can use a home improvement loan for any improvements to your primary or secondary residence. Most people use home improvement loans to fund projects like remodeling a kitchen, building a deck, replacing a roof or landscaping.

A home improvement loan offers a simpler, faster process to receive funding without having to tap into equity in your home.

Although both may be used for home improvement purposes, a home improvement loan differs from a home equity line of credit in a number of important ways.

First, a home improvement loan is unsecured, meaning it does not require equity or collateral. A home equity line of credit, on the other hand, is secured by equity in your home.

Second, while an equity line typically takes more than 30 days to open, a home improvement loan offers a faster, simpler process. And while an equity line can be used for other purposes, a home improvement loan must be used to remodel or repair your residence.

Finally, an equity line is a revolving line of credit, so funds become available as you pay down the balance. In contrast, a home improvement loan is a one-time amount between $10,000 and $75,000.

You can borrow any amount between $10,000 and $75,000.

To qualify for a home loan, you'll need to complete an application with the following information:

• Name
• Property address
• Photo ID (driver license or passport)
• Employment and income information
• Amount you wish to borrow

We'll review your credit application in accordance with our normal credit approval processes.

You will need to complete a personal financial statement and verify your income with documents such as a W-2 form, 1099 form or pay stubs. Additional requirements may vary based on loan size and other factors.