BEST OF

8 Personal Loans to Finance Your Bathroom Remodel

Personal loans offer fast financing for bathroom remodeling projects. Compare lenders and alternatives to find the financing method that fits your needs.

By Annie Millerbernd 

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Remodeling your bathroom can give your home a fresh feeling, whether you’re updating an old guest bath or turning your main bathroom into an in-home spa. But renovations rarely come cheap.

The cost to remodel a bathroom ranges from several thousand dollars to well over $20,000. An unsecured personal loan is one financing option you can use, particularly if you don't have enough in savings or home equity.

Compare lenders that offer bathroom remodel loans, learn common loan features and how to weigh alternatives.

Personal Loans to Finance Your Bathroom Remodel

Our pick for

Joint bathroom remodel loans

SoFi
Get rate

on SoFi's website

SoFi

5.0

NerdWallet rating 
SoFi

Est. APR

7.99-23.43%

Loan amount

$5,000-$100,000

Min. credit score

None
Get rate

on SoFi's website

Our pick for

Bathroom remodel loans with credit building tools

Upgrade
Get rate

on Upgrade's website

Upgrade

5.0

NerdWallet rating 
Upgrade

Est. APR

8.49-35.97%

Loan amount

$1,000-$50,000

Min. credit score

560
Get rate

on Upgrade's website

Our pick for

Bathroom remodel loans with low rates

Lightstream
Get rate

on LightStream's website

LightStream

5.0

NerdWallet rating 
Lightstream

Est. APR

6.99-23.99%

Loan amount

$5,000-$100,000

Min. credit score

660
Get rate

on LightStream's website

Our pick for

Bathroom remodel loans for bank customers

Wells Fargo Personal Loan
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on NerdWallet's secure website

Wells Fargo Personal Loan

4.5

NerdWallet rating 
Wells Fargo Personal Loan

Est. APR

6.99-20.99%

Loan amount

$3,000-$100,000

Min. credit score

None
See my rates

on NerdWallet's secure website

Our pick for

Bathroom remodel loans for credit union members

PenFed Credit Union Personal Loan
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on NerdWallet's secure website

PenFed Credit Union Personal Loan

5.0

NerdWallet rating 
PenFed Credit Union Personal Loan

Est. APR

7.74-17.99%

Loan amount

$600-$50,000

Min. credit score

700
See my rates

on NerdWallet's secure website

Our pick for

Secured bathroom remodel loans

BestEgg
Get rate

on Best Egg's website

Best Egg

4.5

NerdWallet rating 
BestEgg

Est. APR

8.99-35.99%

Loan amount

$2,000-$50,000

Min. credit score

600
Get rate

on Best Egg's website

Our pick for

Bathroom remodel loans for thin credit

Upstart
Get rate

on Upstart's website

Upstart

4.5

NerdWallet rating 
Upstart

Est. APR

6.50-35.99%

Loan amount

$1,000-$50,000

Min. credit score

None
Get rate

on Upstart's website

Our pick for

Flexible bathroom remodel loans

Achieve
Get rate

on Achieve's website

Achieve Personal Loans

5.0

NerdWallet rating 
Achieve

Est. APR

7.99-29.99%

Loan amount

$5,000-$50,000

Min. credit score

620
Get rate

on Achieve's website

What is a bathroom remodel loan?

A bathroom remodel loan is a personal loan you get in a lump sum and repay, with interest, in monthly installments.

These loans are unsecured, meaning they aren’t backed by collateral. Rates are 6% to 36% and loan amounts can be $1,000 to $100,000. The rate and amount you’re approved for depend on your credit, income and other debts.

How much does it cost to finance a bathroom remodel?

The average cost for a midrange bathroom remodel is $27,164, according to Remodeling magazine’s 2022 Cost vs. Value report. A more extensive “upscale” project costs an average of $82,882.

If you finance the remodel, you’ll also pay interest. Interest costs are determined by the loan’s annual percentage rate and the repayment term. Personal loans have terms from about two to seven years. A loan with a longer term will have lower monthly payments but cost more in total interest.

Bathroom remodel loan example

Say you get a $30,000 bathroom remodel loan at 12% APR. Here’s what you’d pay each month and in total with two different repayment terms.

Four-year repayment term:

  • Monthly payments: $790.

  • Total amount repaid: $37,921.

Seven-year repayment term:

  • Monthly payments: $530.

  • Total amount repaid: $44,485.

What to know about bathroom remodel loans

  • Borrowers with good to excellent credit get the lowest rates. The rate you receive on a personal loan depends primarily on your credit and financial situation. Borrowers with good or excellent credit (a score above 689) and low debt are likely to get the best rates.

  • Funding is fast. Many online lenders can fund a loan within a day or two of approval. You typically won’t wait more than a week to get the funds, which is faster than most home equity financing.

  • You get the money in one lump sum. Have a solid estimate of the project’s cost, so you can apply for the loan amount you need.

  • The loan isn’t secured by your home. Unlike a home equity loan or line of credit, unsecured personal loans don’t require you to pledge your home — or anything else — as collateral.

  • You repay in fixed installments. Personal loans have fixed rates, which means your monthly payments are the same for the duration of the loan, and you can budget accordingly.

How to get a personal loan for a bathroom remodeling project

  1. Compare lenders. The most important features to compare on personal loans are the APR and monthly payments. But other features, like fast funding or the ability to manage payments on a mobile app, may alleviate some stress during the bathroom remodel.

  2. Pre-qualify. Many online lenders and some banks allow you to pre-qualify for a personal loan online, so you can see your potential loan amount and rate without affecting your credit score. Pre-qualify with multiple lenders to find the best offer.

  3. Prepare documents. Once you’ve got a solid quote from the contractor, get ready to apply for a bathroom remodel loan. Gather documents like W-2s, pay stubs, bank statements and other required information to help the application process move smoothly.

  4. Apply. When you submit your application, the lender will do a hard credit check, which will cause your score to dip. Most lenders take a day or two to make a decision.

Other ways to finance your bathroom remodel

Home equity loan

A home equity loan is a second mortgage you borrow in a lump sum and repay in monthly installments. Rates are fixed and usually lower than personal loan rates, and repayment terms are up to 15 years.

A home equity loan is best if:

  • You can borrow enough to cover the bathroom remodel.

  • You have a firm cost estimate.

  • You don’t mind using the home as collateral.

  • You want to begin rebuilding equity immediately through payments.

  • You can wait for the underwriting and possible appraisal process to be complete.

Home equity line of credit

A HELOC is an open credit line that you draw on as you need it during the initial draw period, which usually lasts 10 years. Then, you repay it at a variable interest rate over a term lasting up to 20 years.

A HELOC is best if:

  • You can borrow enough to cover the bathroom remodel.

  • You want extra funds available for surprise expenses, or you don’t have a firm cost estimate.

  • You don’t mind using the home as collateral.

  • You can manage fluctuating payments within your budget.

  • You can wait for the underwriting and possible appraisal process to be complete.

Cash-out refinance

With a cash-out refinance, you get a new mortgage that’s larger than your existing loan. You use the new mortgage to pay off the old one, and “cash out” the rest of the money. That extra money becomes your bathroom remodel loan.

Cash-out refinancing is best if:

  • You can get a lower mortgage rate than your existing rate.

  • You don’t mind using the home as collateral.

  • The cash you have left will be enough to pay for the remodel after an appraisal and closing costs.

  • You have time for the underwriting, appraisal and closing process.

Nerdy tip: If you finance a home improvement project with equity, you’re usually able to deduct the interest on your taxes.

0% APR credit cards

0% APR credit cards have promotional periods — usually 15 to 21 months — when you can use them without incurring any interest. These cards work well for DIY remodels.

A 0% APR credit card is best if:

  • You qualify, which usually means having good or excellent credit.

  • You can pay off the card by the end of the promotional period (to avoid paying the regular APR).

  • You aren’t using a contractor who charges a fee for using a credit card.

Government programs

You can use an FHA Title 1 loan for remodels that improve the livability and usefulness of the home, according to the Department of Housing and Urban Development.

Government programs are best if:

Last updated on December 8, 2022

Methodology

NerdWallet’s review process evaluates and rates personal loan products from more than 35 financial institutions. We collect over 45 data points from each lender, interview company representatives and compare the lender with others that seek the same customer or offer a similar personal loan product. NerdWallet writers and editors conduct a full fact check and update annually, but also make updates throughout the year as necessary.

Our star ratings award points to lenders that offer consumer-friendly features, including: soft credit checks to pre-qualify, competitive interest rates and no fees, transparency of rates and terms, flexible payment options, fast funding times, accessible customer service, reporting of payments to credit bureaus and financial education. We also consider regulatory actions filed by agencies like the Consumer Financial Protection Bureau. We weigh these factors based on our assessment of which are the most important to consumers and how meaningfully they impact consumers’ experiences.

This methodology applies only to lenders that cap interest rates at 36%, the maximum rate most financial experts and consumer advocates agree is the acceptable limit for a loan to be affordable. NerdWallet does not receive compensation for our star ratings. Read more about our ratings methodologies for personal loans and our editorial guidelines.

To recap our selections...

NerdWallet's Personal Loans to Finance Your Bathroom Remodel

Frequently asked questions