Home Improvement Loans

Starting your new home project is exciting! Finding the money to do the renovations is stressful. Money FCU’s home improvement loan gets you going quickly without breaking your budget.

home improvement loan - what is a home improvement loan

What is a home improvement loan?

Home improvement loans are unsecured loans used for home improvements, such as renovations, remodeling, additions, and more. The true benefit of a home improvement loan is that it is an unsecured personal loan.

What is an unsecured loan? An unsecured loan means that you do not put up your home as collateral. The loan is a personal loan with nothing backing it. This usually means that the annual percentage rate for an unsecured loan is slightly higher than a secured loan. However, the rate for home improvement loans is still far lower than putting home improvement projects on a credit card.

Using a home improvement loan saves your home’s equity while you increase your home’s value. No lien on your house means you pay off the loan without your home ever being in jeopardy.

home improvement loan - wait time

No extended wait time for loan approval.

Are you excited to start your home project? No need to wait. When applying for a home improvement personal loan, funds are typically available within one business day. Simple, quick, and easy. If you feel you’ll need to speak to someone directly, you may always come into the downtown Syracuse branch to apply, or call or chat with one of our team members.

Home improvement loan -Finance home improvement project

Finance your home improvement project.

This loan provides a lower interest rate than credit cards and none of the closing costs associated with a home equity loan or HELOC. The affordable lower annual percentage rate helps to keep your monthly payment within your budget. Additionally, the lack of closing costs allows you to save extra money, reducing your overall debt.

Finance your next home project with a manageable monthly payment. Keep yourself on budget by using our helpful loan calculator to figure out your monthly payment.

The repayment term of a home improvement loan can be from 1 to 7 years. For your convenience, Money FCU has an optional autopay feature. This feature takes an automatic payment directly from your account each month. If you opt for automatic payments you can also reduce your interest rate by .25%. Never miss a payment again with autopay. You may also choose to make payments online through our free online banking option.

home improvement loan - right for me?

Is this loan right for you?

Here are some things to consider. If you don’t want to use the equity you’ve built up over the years for home improvements or if you are uncomfortable using your home as collateral, then this loan is right for you. This loan is also beneficial when you’re a recent homeowner with little equity looking for a smaller dollar amount for home improvements.

What to know more about if this is the right home improvement loan for you? Read our blog, Got Big Improvements Underway? Best Tips For Your Home Improvement Loan.

If you’re doing larger home improvements that may cost more than $20,000, or you’re looking for a longer repayment term, a Home Equity Loan or Home Equity Line of Credit may be better for you.

Home Equity Information
Loan Calculator

What can I use a home improvement loan for?







Decks and Patios

New Flooring



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Can I get a home improvement loan if I do the work myself?

Yes! You can use home improvement loans for home improvements you take on yourself. So, if you’re handy, jump right in and begin your home enhancements. Home improvement loans provide financing even if you’re not contracting out the workload. Just save receipts for anything you purchase for the home improvement project. Some home improvement stores even offer project estimate calculators, so you’ll know how much money you need to complete the project.

7 Ways to Save on Home Renovations

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I’m ready to start my project and get financing!

Great, let’s get you started! Apply for a home improvement loan. Want to learn more before you apply? Call (315) 671-4000 or chat with one of our friendly agents. We are ready to answer any of your questions.

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