How long does it take to get home improvement financing?

Small model house among home improvement funding cash

Do you often find yourself sitting in your living room and running through a mental checklist of all your home improvement needs? The leaky roof, the ugly tile in the bathroom, that pesky stained shag carpet… Or, is your home is in great condition, but you find it lacks amenities that would truly make it a dream come true? Things like a swimming pool in the backyard, or those movie star walk-in closets? Then it sounds like it’s time to look into home improvement financing. 

What is home improvement financing? 

Financing for a home improvement project is a loan that you can use to do just about anything to upgrade to fix your home. These loans usually come from financial institutions, like banks or a lender. A home improvement loan is not the same as a home refinance loan or a home equity line of credit. Those usually originate from a mortgage lender, for much higher amounts of money, and aren’t open-ended. Here are a few factors that help define what you are looking for. A home improvement loan is:

  • A wide range of financing options, starting at around $5,000 and going up to $100,000 or even higher.
  • A loan with a variety of payback time tables, with some to be paid back in a year, while others can be up to 20 years.
  • Usually provided by a bank, online personal lender, or credit union. 

How to Get Started

A key factor in getting approved for home improvement financing is being as specific as possible with both your projects and the amount you’re looking for. Since most projects increase the value of your home, lenders look at it as a good use of money and it can help you in the approval process. Do your homework, and refrain from asking too high above the estimated cost. It’s also wise to check on your credit score. The higher the score, the better chance of loan approval at a good rate.

What if my credit score is low?

A low credit score may hinder your process, but it’s still possible to get the funding you need to take care of your home. The USDA is more forgiving than other lenders, and you can even check into getting a co-signer to help your approval rate.

How long do I have to wait?

It really depends on the type of loan you’re looking for. If you choose something like a home equity loan, you can expect the process to take up to 6 weeks. However, independent loans like a perfect match through HFS Financial are much faster. You can often get financing in a matter of days.

You Dream It, We Finance It.

HFS Financial has the BEST platform to get you funded for all your home improvement projects. All you need is 60 seconds to apply, and your credit score won’t be affected with inquiry.  Once you submit your application, you’ll receive a call, email, or text within 48 business hours (often less) from one of our knowledgeable representatives with options for your specific needs. Don’t wait another day! Call 1-800-254-9560 or apply online!

How long does it take to get home improvement financing?

HFS Financial solely operates in the home improvement lending space which means we can confidently say that we are THE HOME IMPROVEMENT LOAN EXPERTS. When you apply at HFS Financial you will get a customized loan experience tailored to ensuring you get the best personal loan to meet your home improvement loan needs.