Home Improvement Loans

Finance Upgrades Simply and Affordably

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What Is a Home Improvement Personal Loan?

A home improvement personal loan is an unsecured (no collateral) fixed-rate personal loan that is used for home renovations and repairs and repaid over a set length of time. Home improvement personal loans are a smart alternative to revolving high-interest credit cards and faster than tapping into home equity.

Instead of waiting for your house, condo, or apartment to accumulate enough equity for a cash-out refi or home equity line of credit, you can get a personal loan for home upgrades in as little as a few days—no collateral, appraisal, or costly refinancing required. A personal loan for home improvements offers an easy, online application with eligibility based primarily on your credit score (not home value), fast funding, and affordable monthly payments.

Join Over 4 Million Members Nationwide

  • Borrow up to $40,000

  • Quick and easy online application

  • Eligibility is based on credit history, not home value

  • Receive money fast, upon loan approval

  • No prepayment fees

Make Upgrades and Repairs Faster, Easier Than Refinancing

Expand Living Space
Renovate that bathroom, add a granny unit, install a deck, pool.
Cover Urgent Repairs
Tackle the unexpected leaky roof, broken water heater, or damaged siding.
Improve Energy Efficiency
Lower your energy bill by installing solar, water-wise irrigation, and efficient windows and doors.

What Our Members Say

I promised my wife I would remodel our bathroom for our anniversary and didn't have time for a second mortgage and all the red tape. Less than one week after contacting LendingClub I was writing checks for materials.

Tom, a member from Alabama1

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How it Works

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How it Works

Check Your Rate
Frequently Asked Questions
What Is a Home Improvement Personal Loan?

A home improvement personal loan is an easy-to-access, unsecured (no collateral required) fixed-rate loan repaid over a set period of time for home renovations and repairs. Home improvement personal loans are a smart alternative to revolving high-interest-rate credit cards and faster than tapping into home equity.

How is a home improvement personal loan different than a home equity loan or cash out refinancing?

With a home improvement personal loan you can upgrade or make repairs more quickly, without wading through a lot of paperwork, or wait for a home appraisal and a long approval process.

While you will have an origination fee on a personal loan with LendingClub, there are no application fees, prepayment penalties, or unreasonable refinancing closing costs to worry about. Since personal loans require no collateral to back the loan (except for your good
credit), you will likely receive a lower interest rate with a home equity loan, however, you risk losing your home to foreclosure if you’re unable to make your home equity loan payments.

Why should I choose a personal loan for home upgrades and repairs?

Because eligibility is based on your creditworthiness (not on the fluctuating value of your home), getting a personal loan requires less time, less hassle, no home appraisal, and less paperwork than refinancing. And you get to decide exactly how the money will be used—even if it's for more than home upgrades (like paying off credit cards). Plus, your rate and monthly payments are fixed (not variable) over a set length of time, so you'll know exactly when your loan will be paid in full.

Checking your rate takes only minutes and won't impact your credit score. After checking your rate, here's what's next:

Choose your offer

If your loan request is approved, you’ll be able to review the loan amount, interest rate, APR, monthly payment, and loan term.

Confirm your information

We ask for your Social Security number, and about your income and employment. If we need any other documents or information, we'll let you know in your To-Do List. Then, hold tight while we look for your investors on our marketplace and wrap up your loan.

Get funded

Once your loan is funded, we’ll send the money directly to your bank account.

Is a personal loan better than a credit card for home repairs and upgrades?

Instead of worrying about credit limits, introductory rates, or high-interest rate revolving balances, a personal loan offers a low fixed rate and affordable monthly payment repaid over a set length of time. This means you’ll know the exact date your loan will be paid in full. No additional interest will be added to your loan once you lock in your rate, so nearly all of your monthly payment goes to quickly reducing your balance and paying down what you owe.

Will checking my rate hurt my credit score?

Checking your rate with LendingClub has absolutely no impact on your credit score because we use a soft credit pull. A hard credit pull that could impact your score occurs only if you continue with your application and a loan is issued to you.

Also remember that a personal loan could have a positive impact on your credit in the future if you’re able to show a history of on-time payments and a reduction in overall debt (not taking on new debt, such as higher credit card balances).

How quickly can I get a loan for home improvements and repairs?

We make it easy so you can check your rate in a few minutes! You can help keep things moving along by checking your To-Do List and making sure you have submitted all the documents and information requested.

Applying is easy and the entire process can be completed online using your phone, laptop, or tablet.

How do I make payments on a personal loan?

With a personal loan for home improvements from LendingClub, you can choose to have payments automatically withdrawn from your bank account each month. We'll email you a reminder a few days in advance so you can make sure money is there. If you prefer mailing us a check each month instead, that’s okay, too. You can also change your payment date, make additional payments, or pay off your loan right from your Account Summary.

  1. This is one person's experience. Individual results may vary. Based on reviews collected and authenticated by Bazaarvoice. All such reviews can be accessed at https://www.lendingclub.com/company/reviews

Savings are not guaranteed and depend upon various factors, including but not limited to interest rates, fees, term length, and making payments as agreed. 

A representative example of payment terms for a Personal Loan is as follows: a borrower receives a loan of $19,854 for a term of 36 months, with an interest rate of 10.29% and a 6.00% origination fee of $1,191, for an APR of 14.60%. In this example, the borrower will receive $18,663 and will make 36 monthly payments of $643. Loan amounts range from $1,000 to $40,000 and loan term lengths range from 24 months to 60 months. Some amounts, rates, and term lengths may be unavailable in certain states. 

For Personal Loans, APR ranges from 9.57% to 35.99% and origination fee ranges from 3.00% to 8.00% of the loan amount. APRs and origination fees are determined at the time of application. Lowest APR is available to borrowers with excellent credit. Advertised rates and fees are valid as of July 11, 2023 and are subject to change without notice. 

Checking a rate through us generates a soft credit inquiry on a person’s credit report, which is visible only to that person. A hard credit inquiry, which is visible to that person and others, and which may affect that person’s credit score, only appears on the person’s credit report if and when a loan is issued to the person. Credit eligibility is not guaranteed. APR and other credit terms depend upon credit score and other key financing characteristics, including but not limited to the amount financed, loan term length, and credit usage and history. 

Unless otherwise specified, all credit and deposit products are provided by LendingClub Bank, N.A., Member FDIC, Equal Housing Lender (“LendingClub Bank”), a wholly-owned subsidiary of LendingClub Corporation, NMLS ID 167439. Credit products are subject to credit approval and may be subject to sufficient investor commitment. Credit union membership may be required. Deposit accounts are subject to approval. Deposit products are FDIC-insured up to $250,000 per depositor, per ownership category.

"LendingClub" and the "LC" symbol are trademarks of LendingClub Bank.

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