From a custom kitchen to an inground pool, our home improvement loans1 can help you transform your space into an oasis you won’t want to leave.
To apply for a home improvement loan1 from BHG Money, follow these three steps:
1. Estimate your payment in as few as 30 seconds
2. Apply online or call our US-based team 7 days a week
3. Get funded in as few as 5 days3
When it comes to the best loan for home improvements1, you have multiple financing options to choose from. These include:
Our personal loans provide up to $200,0002 in as few as 5 days3, allowing you to complete even your largest projects1. Unlike with home equity loans or HELOCs, you do not have to tap into your home’s equity with a personal loan.
A home equity loan works as follows:
1. You borrow money against the equity that you currently have in your home.
2. Depending on multiple factors including the value of your house and how much you have left to pay on your mortgage, you may be able to borrow between 80% and 90% of your home’s value, less your mortgage.
3. Your loan is tied to an interest rate and are given monthly payments to pay back your loan.
Home equity loans are secured loans, which means you put up your home as collateral. In the event you cannot pay back the loan, you could lose your home. Meanwhile, at BHG Money, our home improvement loans1 are unsecured personal loans, which allow you to borrow money to improve your home without providing any personal collateral.
Yes, the amount of loan interest you pay on a home improvement loan1 may be tax-deductible if you use the funds to make significant improvements to your home and meet all other applicable tax requirements. Consult your accountant for information related to tax deductions.
Yes. You can use a home improvement loan1 to pay for a pool. Our home improvement loans1 can be used to cover anything from minor renovations to major remodels and improvements. Here are some other projects you may consider with a home improvement loan1:
No application fees, commitment, or impact on personal credit to estimate your payment.