Best Home Improvement Loans

SoFi offers flexible home improvement loans with same-day funding for eligible applicants, several repayment terms, and the ability to borrow up to $100,000. SoFi is our top pick due to its easy application process, lack of fees (not even late payment fees), and competitive rates compared to others in the industry.

SoFi also offers borrower protection in the form of its Unemployment Protection program, allowing you to pause payments for up to three months at a time when looking for work. And SoFI employs career counselors who can help you find a new job during this time, helping you get back on your feet while avoiding costly missed payments.

SoFi doesn’t allow co-signers, but does allow co-applicants, making it easier to qualify if one of you has a better credit history. SoFi is also very easy to get a hold of, with live chat available on the website, and phone and email support available seven days per week.

SoFi was founded in 2011 as student loan refinancing company. Over the years, they've grown to offer a variety of financial products, including loans, mortgages, insurance, crypto, and bank accounts. More than five million people are SoFi members.

• Must be at least the age of majority in your state and able to enter into a binding contract
• Must be a United States citizen, eligible permanent resident, or non-permanent resident alien (including DACA recipients and asylum seekers); documentation may be required
• Available in all 50 U.S. states and Washington, D.C. 
• Must be employed, have sufficient income from other sources, or have an offer of employment to start within the next 90 days

Rocket Loans is a good option for borrowers who need funding fast, with same-day funding available for those who qualify. If you complete the loan application and sign the promissory note by 1 p.m. Eastern Time, Rocket Loans will send the funds to your bank by ACH right away. But be aware that your bank’s processing time could delay access to the funds.

While Rocket Loans’ rates aren’t the lowest around, borrowers with good credit can qualify for a sub-10% rate to help fund home repairs in a pinch.

Rocket Loans does charge up to a 7% origination fee, which may be higher than competitors, but the amount is based on your financial and credit profile. There are also only two repayment terms available (three or five years). Overall, Rocket Loans offers fast funding and decent rates, just watch out for the origination fee if you don’t have a strong credit history.

Headquartered in Detroit, Rocket Loans is the lending arm of a family of financial services which also includes Rocket Mortgage. Rocket Loans has been around since 2016 and is available in 47 states.

• Must be at least 18 years old
• Must be a U.S. resident
• Credit history and debt-to-income ratio (DTI) are reviewed

First Tech FCU offers some of the smallest personal loan amounts, starting at just $500. If you’re taking on a small project or only need some extra cash to help pay for improvements, First Tech is worth a look.

Interest rates are quite competitive, and although the maximum loan term isn’t very long, that shouldn’t be much of a problem if you’re taking out a small loan. You may be able to get the money quickly, as well, with same-day funding for eligible borrowers.

Although membership is required to take out a loan, certain people can join for free and anyone else can join for a small fee. First Tech FCU’s requirements are relatively lenient as well, with a minimum recommended credit score of 600; and if your credit isn’t good enough to qualify for good rates on your own, the credit union allows co-signers to help you out. 

First Tech FCU is a not-for-profit credit union founded in 1952. Headquartered in Lane County, Oregon, the company provides financial services for employees of businesses including Microsoft, Google, and Amazon, as well as the state of Oregon.

• Must be the age of majority in your state
• Minimum recommended credit score of 600

To qualify for a loan from First Tech FCU, you must be a member of the credit union or sign up during the loan application process. To join, you must:

• Have a family or household member that is a member of First Tech FCU
• Work for one of the hundreds of companies on the credit union’s list of partners
• Work or live in Lane County, Oregon
• Belong to the Computer History Museum or the Financial Fitness Association (you can join online; digital memberships start at $15 per year)

Upgrade is an online lender that offers personal loans for home improvement projects with flexible repayment terms and up to $50,000 in funding. The minimum recommended credit score is only 560, making it one of the most accessible lenders (aside from payday loan companies and the like). Upgrade also allow co-applicants, which can increase your chances of qualifying if you have poor credit.

Upgrade offers a simple online application process, or you can call in and apply over the phone. A decision is made within minutes, and you can check your rate and loan terms before completing your application. 

Upgrade does charge an origination fee on all personal loans, which can reach as high as 8.99%; this will be deducted from your total loan amount. And payments 15 days late or more are charged a $10 late fee. But if you have poor credit, you may be able to qualify for a home improvement loan without jumping through too many hoops with Upgrade.

Upgrade got its start in 2016 and now offers loans, checking, and credit to millions of people across the U.S. The company is headquartered in San Francisco.

• Must be a U.S. citizen or permanent resident, or living in the U.S. on a valid visa
• Must be at least 18 years old (19 years old in Alabama and certain other states)
• Must provide a verifiable bank account
• Must provide a valid email address

Best Egg offers home improvement loans up to $50,000 for borrowers with credit scores as low as 600, making it a good option if your credit isn’t in the best shape. Funds are typically available within one to three business days, and borrowers can apply for multiple loans, totaling up to $100,000 in funding (up to $50,000 per loan).

Best Egg offers an easy online pre-qualification process, providing estimated rates and loan terms within a few minutes. The lender does charge an origination fee of 0.99%–8.99%, although this is fairly normal for fair-credit loans. And while the lowest rates are reasonable, the upper end of the range is relatively high.

Overall, Best Egg is a great option for borrowers with fair credit looking to qualify for a quick home improvement loan. It also has a relatively low income requirement, of $3,500 per year.

Best Egg has funded more than $1 million in loans since its start in 2014. Based in New Wilmington, Delaware, Best Egg operates in 47 states and offers credit cards, too.

• Must be a U.S. citizen or permanent resident, or living in the U.S. on a valid visa
• Must be at least 18 years old (19 years old in Alabama and certain other states)
• Must live in a state supported by Best Egg (not available in Iowa, Vermont, West Virginia, or Washington, D.C.)
• Must have verifiable income and employment
• Minimum 600 recommended credit score
• Minimum $3,500 annual income

LightStream is a leading online lender that offers personal loans up to $100,000, making it a great option for major home improvement projects. LightStream offers low interest rates, a wide range of repayment terms (up to 12 years), and no fees whatsoever (no application, origination, prepayment, or late payment fees).

LightStream home improvement loans are paid directly to your bank account, so you can fund your project how you wish. And funds may arrive the same day you apply, depending on your bank policies and approval from LightStream. 

Borrowers are recommended to have a 660 credit score to qualify, but LightStream does allow co-applicants, which can help you qualify if you personally don’t meet the credit and financial requirements. And LightStream doesn’t offer pre-qualification, so you’ll need to complete a full application to qualify, which requires a hard credit pull.

Overall, LightStream offers some of the best loan terms and rates for large home improvement projects—if you have the credit to qualify.

Originally known as FirstAgain in 2005 and later purchased by SunTrust Bank (now Truist Bank), LightStream was one of the first companies to offer all-digital loans.

• Must be at least the age of majority in your state
• Must be a U.S. citizen, eligible permanent resident, or non-permanent resident alien
• Must reside in one of the 50 U.S. states or Washington, D.C. 
• Minimum credit score of 660
• Qualify based on financial history, credit score, and other factors
• Borrow a minimum of $5,000

Navy Federal offers home improvement loans to members, and membership is open to all military members and their families. Navy Federal offers low rates, flexible repayment terms (up to 15 years in length), and borrowers can get loans as small as $250.

Navy Federal offers several loan options, with lower rates available on shorter-term loans. Loans up to 36 months come with rates as low as 7.49%, but that rate jumps up to 14.79% for loans that are 37 months or longer.

Navy Federal does require higher loan minimums for longer-term loans. Loans with rate terms over 60 months require a $25,000 minimum, and terms over 84 months require a $30,000 minimum. The lender doesn’t offer a pre-qualification tool, so you will need to complete a full application to get your rate information.

Overall, Navy Federal offers competitive rates on home improvement loans, especially those with terms under three years in length. 

Navy Federal is a credit union designed to provide financial services to members of the military. Its loan portfolio reached almost $110 billion in 2022 and it operates in all 50 states, plus locations worldwide.

• Must be a Navy Federal member
• Must be at least the age of majority in your state
• Must be a U.S. citizen, eligible permanent resident, or non-permanent resident alien
• Available in all 50 U.S. states and Washington, D.C.

If you want to work with a well-established, trustworthy bank, Discover offers home improvement loans with low rates, next-day funding, and up to seven-year term lengths available. The great thing about Discover is that rates don’t necessarily jump up for longer terms like with some other lenders, so those looking for large loans to pay off over a long time can find decent rates with Discover.

Loans are available starting at $2,500, going up to $35,000 in total, so Discover loans are best for smaller and medium-sized projects. Loans are available to borrowers living in any U.S. state as well as Washington, D.C.

A 660 credit score is recommended to qualify, and you must qualify alone, as co-signers and co-applicants are not allowed. There are no fees unless you pay late, as Discover may assess a $39 late fee on all late payments.

Overall, borrowers looking for a trusted bank with decent rates on long-term loans may find what they need with Discover.

Discover was founded in 1986 and is the third-largest credit card issuer in the U.S. (behind Visa and Mastercard). Although best known for its credit cards, Discover also offers banking services and a variety of loans.

• Must be a U.S. citizen or permanent resident
• Must be at least 18 years old
• Must have a minimum household income of at least $25,000
• Minimum recommended credit score of 660