Do you have your sights set on repairing or remodeling your home in the near future?  If you don’t have significant savings, a home improvement loan may be necessary.  Here are some of the top home improvement loan lenders.

Why would someone take out a home improvement loan and put themselves in debt?  Because their home may need an urgent repair, like replacing a leaky roof.  Or they may need to upgrade their home to up their family’s comfort via a remodeled kitchen, bathroom, etc.

Could you use credit cards to cover such costs?  That’s possible, but what if you can’t get a credit card?  What if your card’s interest rate is already high?  Or what if you need a ton of cash to pay for such repairs or improvements?  That’s where a home improvement loan can save the day since it can offer:

• Fast funding in as little as a couple of days after applying online.
• As much as $100,000 to cover major home repairs or remodels.
• Terms up to 12 years, so you have plenty of time to repay the loan.
• Fixed monthly payments with no surprises.
• Funding without the need for collateral.

What are some lenders that offer such loans?  Here’s a sampling of some of the best of the bunch.

The Top Lenders For Home Repairs And Renovations

OneMain Financial

Home improvement loans between $1,500 and $20,000 with 18-35.99% APR.

Pros:

• A solid pick for borrowers with bad credit who cannot get loans elsewhere.
• Same-day funding.
• Secured and joint loans are ok.
• Flexible payment dates.

Cons:

• Low maximum loan amount may not cover extensive repairs or improvements.
• Origination fee up to 10%.
• High rates.
• No autopay discount.

LightStream

Home improvement loans between $5,000 and $100,000 with 4.99-19.99% APR and up to 12-year terms.

Pros:

• Joint applications are accepted.
• Solid rates.
• Autopay discount.
• No fees.

Cons:

• Need 660 minimum credit and years of credit history.
• No prequalification.

SoFi

Home renovation loans with 6.49-21.78% APR between $5,000 and $100,000 and 2-7 year terms.

Pros:

• Co-signers accepted.
• No fees.
• Unemployment protection if you lose your job and can’t repay the loan on time.
• Autopay discount.

Cons:

• Need a minimum 680 credit score.
• Can’t ask for a secured loan, if desired.

Upgrade

Unsecured personal loans for home improvements up to $50,000 with 5.94-35.97% APR.

Pros:

• You can get in the door with a 560 credit score.
• Minimum loan amount of $1,000 is ideal for borrowers needing to finance small projects.
• Can do secured and joint loans.
• Rate discount for linking your checking account or autopay.
• Flexible repayment.
• Up to 7-year terms.

Cons:

• High APR for borrowers with bad credit.
• No co-signers.
• Origination fee up to 8%.

Rocket Loans

Personal loans for home renovations and repairs between $2,000 and $45,000.  APRs in the 5.97-29.69% range for borrowers with a minimum credit score of 640.

Pros:

• Autopay discount.
• Small starting loan amount for quick projects.
• Same-day funding.
• Prequalification to see where you stand.
• Competitive rates.

Cons:

• No payment date flexibility.
• No co-signers.
• No joint or secured loans.
• Only two repayment term options to pick from of 3 or 5 years.
• Origination fee up to 6%.