dcsimg
We research, you save.
Got Questions On Rates? (855) 610-2972

Finding a Home Improvement Loan

HSH.com

Q: I'm looking for a fixed rate 10-15 year home improvement loan of $45,000. My credit score is 730. What rates are out there?

A: Not all mortgage lenders still write true "home improvement" loans, where money for repairs and upgrades is provided based upon the value of the home after the work is completed. More likely, and if you have equity, you'll be steered toward a Home Equity Loan, or a Home Equity Line of credit which allows you to "break off" portions into fixed-rate, fixed-term chunks. For traditional fixed-rate Home Equity Loans, average interest rates are running just above 7% at the moment.

More help from HSH.com

  • Buying a home? 15 ways to shop for the lowest mortgage rates

  • Mortgage Rates Radar 06/21/2016: Mortgage rates creep lower

    HSH.com releases its latest Weekly Mortgage Rates Radar showing another decline in popular mortgage rates in the seven-day period ending June 21, as concerns about this week's so-called "Brexit" vote is keeping investors on their toes. The Weekly Mortgage Rates Radar reports the average rates and points offered by lenders for the two most popular types of mortgages, the conforming 30-year fixed-rate mortgage and the conforming 5/1 adjustable-rate mortgage (ARM).
  • Metro area definitions

    Metro area definitions for the 27 metropolitan areas in "The salary you must earn to buy a home in 27 metros"
  • HSH.com on the latest move by the Federal Reserve

    The Federal Reserve concluded a meeting today with no change to the federal funds rate and no changes to other monetary policy tools.
  • Mortgage Rates Radar 06/14/2016: Fixed mortgage rates at three-year lows

    HSH.com releases its latest Weekly Mortgage Rates Radar showing a decline for a second consecutive week in popular mortgage rates during the seven-day period ending June 14. A soft U.S. economy and the potential exit of Britain from the European common market continues to worry investors. The Weekly Mortgage Rates Radar reports the average rates and points offered by lenders for the two most popular types of mortgages, the conforming 30-year fixed-rate mortgage and the conforming 5/1 adjustable-rate mortgage (ARM).