HOME IMPROVEMENT LOAN
Finally Cross A Few Of Those Big Home Projects Off Your List.
Home improvement loans, otherwise known as home renovation loans or home repair loans from LendingArch are an excellent choice for:
Remodeling your kitchen or bathroom
Adding new furniture or appliances
A new outdoor deck or garden
When Home Equity Loans Aren’t Right For The Job
Bathroom remodeling | Kitchen re-design | Replacing old deck | Enhancing the patio | Upgrading furniture | Painting
Historically, home improvement projects have been financed through the use of credit cards and home equity loans – but they’re not always the best option for every situation.
Tacking a home equity loan onto your existing mortgage, or adding it as new debt, can require mortgage sized fees and inspections.
Home equity loans are often not time nor cost efficient especially in the short run. This also holds true for a Home Equity Line of Credit. If you intend on using the credit solely for renovation purposes, closing costs and fees can greatly increase your expenses. In addition, the loan is backed with your home as collateral. In a situation where financial difficulty arises, they have claims over ownership of your home.
Using credit card debt to fund your home renovation, or even small parts of the project, can create long lasting problems for your financial self. Financing through credit can instigate overspending and result in years, potentially even decades, of interest payments. Carefully considering the extent of your project and applying for a home improvement loan prevents spending outside of your budget. Payments are fixed and automated with a set interest rate, giving you peace of mind throughout the period of your loan. You are able to rest easy knowing you will be debt free at a set cost and period of time.
A simple home improvement loan is quickly and easily attainable when working with a Canadian online lending platform such as LendingArch. Our innovative approach to connecting Canadian lenders with Canadian borrowers has provided our clients with the money they need to take care of much needed home repairs or enhance their living space with long anticipated home renovations.
Zero to Funded Within Hours. Take the steps:
The application is simple – just pick an amount, answer a few questions and apply in minutes for a home renovation loan.
REVIEW YOUR RATE
Reviewing your home improvement loan rate, amount and term options is a simple, easy-to-understand format.
SMILE, YOU'RE FUNDED
With automated payments and reminders, you can borrow money hassle-free and never miss a due date for your home repair loan.