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Home Renovation Loan
Expand your possibilities. Make room for more with an in-law apartment, accessory dwelling unit (ADU), or some major upgrades
to your home.
No Refinancing Required
Higher
Borrowing Limits
We consider the after-renovation value of your home.
Unaltered
Mortgage
Your new funding won’t affect your current mortgage or its rate.
Select
Lower Rates
It’s a more cost-effective alternative than a personal loan.
Home Renovation Loan Rates
| Term | Interest Rate | APR | Loan to Value Ratio |
|---|---|---|---|
| 60-107 Months | 6.99% | 7.685% | Up to 80% |
| 108-120 Months | 7.19% | 7.575% | Up to 80% |
| 121-180 Months | 7.49% | 7.844% | Up to 80% |
| 181-240 Months | 7.99% | 8.249% | Up to 80% |
Rates effective as of April 26, 2024
You may still qualify! We base the equity on the after-renovation value of the home, so no need to wait to acquire equity.
Let your imagination run wild! You can now build that in-law or ADU, or you can finally kick off that kitchen renovation, bathroom remodel, or more. Get in touch to discuss your plans.
Let’s Bring Your Plan to Life
Any questions? Feel free to call us at888-436-1847
Minimum amount is $20,000. Maximum amount is $200,000. The loan must be in second lien position. Property insurance is required. Flood insurance is required if the property is located in a flood zone.
Annual Percentage Rate (APR) shown is the lowest rate offered and based on credit score. Rates are subject to change without notice.
The Fixed Home Renovation Loan offers a loan term of up to 240 months and begins with a 9-month interest only construction period followed by a fully amortized re-payment period for the remaining months. For maximum term of 240 months, loan amount must be greater or equal to $100,000.
Home Renovation Loans are only available if home is being built in New Hampshire or Maine.
All loans are subject to credit approval.
A payment example for a Home Renovation Loan with $100,000 loan amount and 7.99% interest rate and annual percentage rate of 8.249% will have a monthly principal and interest payment of $849.16.
The APR in the payment example was effective on February 26, 2024. The current APR may be different than the APR used in the payment example.