This home improvement loan is ready to roll up its sleeves.
A home improvement loan is a personal loan used to pay for home repairs or renovation projects. Improvifi’s home improvement loans range from $5K–$100K and they’re unsecured, which means that your house is not used as collateral to secure the loan.
Compared to a home equity loan (HELOC), which may only cover a handful of projects, a Improvifi Home Improvement Loan allows you to use the money for almost whatever your dream home demands. And while a HELOC can require an appraisal before you can get approved, Improvifi’s process is faster and doesn’t require an appraisal.
View Disclaimer – Improvifi Home Improvement Loans can be approved and funded on the same day, with no appraisal required.
Same-Day Funding Get your funds as quickly as the same day your loan is approved so you can get moving on your project ASAP.
With fixed monthly payments over a set term, you’ll know when and how to pay off the debt up front, so you can keep your project at or under budget.
Our home improvement loan is an unsecured loan—meaning your home equity, or anything else, is not on the line.
Surprises are almost inevitable with any home renovation. But not with your Improvifi Home Improvement Loan—you’ll find no fees required, and no surprises.
A home improvement loan is a personal loan used to pay for home repairs or renovation projects. Unsecured home improvement loans means that your house is not used as collateral to secure the loan.
Loans for home improvement can cover a range of projects from small installations to major renovations. These loans are investments to potentially increase the value of a home. If a homeowner doesn’t have cash to fund these home repairs or renovations, then using loans for home improvements could be a viable option to improve their property.
A home improvement loan isn’t a specific type of loan, but a personal loan used to maintain, repair, or improve a home. These unsecured loans are approved based on creditworthiness and other personal financial factors.
Personal loans for home improvements are separate unsecured loans, meaning they are not tied to the value of your home and your home is not put up as collateral. A HELOC, or home equity line of credit, is a loan which allows you to draw from the existing equity of your home as cash to finance things like large home renovations. A cash-out refinance involves refinancing your mortgage for more than the principal and converting the extra amount to cash, typically to finance home improvements or renovations. Each loan for home improvements has advantages and disadvantages, depending on your needs and financial situation.
Credit cards typically have high interest rates. Home improvement loan rates tend to be lower, making monthly payments more manageable or saving money from interest accrual over the lifetime of the debt. If you’re considering applying for a home improvement loan, it’s worth researching the terms, rates, and criteria.
Home improvement loan terms vary depending on the lender. Improvifi Personal Loans have term options ranging from 2–7 years.
Applying for a home improvement loan will require meeting your lender’s criteria. Since most home improvement loans are unsecured (meaning they don’t require collateral) this criteria assures the lender that you can repay the loan. Lenders will typically evaluate your credit score, income, and debt-to-income ratio, among other factors. There is no minimum credit score required to secure a personal loan, but lower scores could affect your eligibility, terms, or rate—depending on your lender.
The approval process for home renovation personal loans varies, depending on your lender. Here’s how it works with Improvifi: Once your application is complete and verified, if you are approved for a home improvement loan, you will receive a Loan Agreement for electronic signature. Once you’ve signed the document electronically, we will give you a call to confirm your address and welcome you to the Improvifi Community, and then your funds should generally be available within a few days.
The Improvifi Personal Loan is an unsecured loan. This means that it is not tied to your home and you do not need to provide collateral for the loan.
With the Improvifi Personal Loan, the minimum amount you can borrow is $5,000 in most states and the maximum is $100,000.
Whatever you need, we are here to help. Reach out today.
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General Information
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Funding Process
If approved, funding times may vary. PurpleAppleLoans works with lenders, some of which may not require a credit check and may base eligibility on income or employment. Underwriting criteria are set by our funding partners, not PurpleAppleLoans. Most lenders perform a soft credit pull, which does not affect your credit score. However, a hard credit pull may be conducted when you express interest in an offer, which could impact your credit score.
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