BEST OF

6 Personal Loans for Landscaping Projects

Landscaping loans can help you start your project quickly. Compare lenders and other financing options.

Annie MillerberndAug 17, 2020
Many or all of the products featured here are from our partners who compensate us. This may influence which products we write about and where and how the product appears on a page. However, this does not influence our evaluations. Our opinions are our own. Here is a list of our partners and here's how we make money.

An eye-catching outdoor space can give your home extra curb appeal or make your backyard feel like an escape. While pricing on landscaping projects varies, the larger your job, the more you should plan to spend.

If you need to finance your project, landscaping loans are one option. These are personal loans with fast funding so you can start your project quickly.

Here are lenders that offer personal loans for landscaping. You can also learn the pros and cons of personal loans and other financing options.

Summary of Personal Loans for Landscaping Projects

Our picks for

Landscaping loans

Lightstream
Check rate

on LightStream's website

LightStream

5.0

NerdWallet rating 
Lightstream

Est. APR

3.99 - 19.99%

Loan Amount

$5,000 - $100,000

Min. Credit Score

660
Check rate

on LightStream's website


Min. Credit Score

660

Key facts

LightStream targets strong-credit borrowers with no fees and low rates that vary based on loan purpose.

Pros

  • No fees.

  • Competitive rates among online lenders.

  • Offers .5% rate discount for setting up autopay.

  • Special features including rate beat program and satisfaction guarantee.

Cons

  • No option to pre-qualify on its website.

  • Requires several years of credit history.

Qualifications

  • Minimum credit score: 660.

  • Several years of credit history; excellent-credit borrowers have at least five, according to LightStream.

  • Multiple account types within your credit history, like credit cards, a car loan or other installment loan and a mortgage.

  • Strong payment history with few or no delinquencies.

  • Investments, retirement savings or other evidence of an ability to save money.

  • Enough income to pay existing debts and a new LightStream loan.

Available Term Lengths

2 to 7 years

Fees

  • Origination fee: None.

  • Late fee: None.

Disclaimer

Your loan terms, including APR, may differ based on loan purpose, amount, term length, and your credit profile. AutoPay discount of .50% points is only available when selected prior to loan funding. Rates without AutoPay will be .50% points higher. To obtain a loan, you must complete an application on LightStream.com which may affect your credit score. Subject to credit approval. Conditions and limitations apply. Advertised rates and terms are subject to change without notice. Payment example: Monthly payments for a $10,000 loan at 6.14% APR with a term of 3 years would result in 36 monthly payments of $304.85. Truist Bank is an Equal Housing Lender. ©2021 Truist Financial Corporation. SunTrust, Truist, LightStream, the LightStream logo, and the SunTrust logo are service marks of Truist Financial Corporation. All other trademarks are the property of their respective owners. Lending services provided by Truist Bank.

Read Full Review
Upgrade
Check rate

on Upgrade's website

Upgrade

5.0

NerdWallet rating 
Upgrade

Est. APR

5.44 - 35.47%

Loan Amount

$1,000 - $50,000

Min. Credit Score

580
Check rate

on Upgrade's website


Min. Credit Score

580

Key facts

Upgrade offers personal loans plus credit-building tools; you'll need strong cash flow to qualify.

Pros

  • Allows secured, co-signed and joint loans.

  • Offers rate discount with direct payment to creditors on debt consolidation loans.

  • Offers a .5% rate discount for setting up autopay.

Cons

  • Charges origination fee.

  • Charges late fee.

Qualifications

  • Minimum credit score: 580.

  • Minimum annual income: $35,000; average borrower income is $87,000.

  • Minimum credit history: 3 years.

  • Minimum number of accounts on credit history: 2.

  • Minimum monthly free cash flow: $800.

  • Maximum debt-to-income ratio: Varies between 55% and 65% including the loan you’re applying for and mortgage payments. To see your post-loan DTI, calculate your monthly payments on a personal loan, and then add them to your debt-to-income calculation.

  • Average loan amount is $10,000.

  • Average repayment term is 40 months.

Available Term Lengths

3 to 5 years

Fees

  • Origination fee: 2.9% to 8%.

Disclaimer

Personal loans made through Upgrade feature APRs of 5.94%-35.97%. All personal loans have a 2.9% to 8% origination fee, which is deducted from the loan proceeds. Lowest rates require Autopay and paying off a portion of existing debt directly. For example, if you receive a $10,000 loan with a 36-month term and a 17.98% APR (which includes a 14.32% yearly interest rate and a 5% one-time origination fee), you would receive $9,500 in your account and would have a required monthly payment of $343.33. Over the life of the loan, your payments would total $12,359.97. The APR on your loan may be higher or lower and your loan offers may not have multiple term lengths available. Actual rate depends on credit score, credit usage history, loan term, and other factors. Late payments or subsequent charges and fees may increase the cost of your fixed rate loan. There is no fee or penalty for repaying a loan early. Personal loans issued by Upgrade's lending partners. Information on Upgrade's lending partners can be found at https://www.upgrade.com/lending-partners/. Accept your loan offer and your funds will be sent to your bank or designated account within one (1) business day of clearing necessary verifications. Availability of the funds is dependent on how quickly your bank processes the transaction. From the time of approval, funds should be available within four (4) business days. Funds sent directly to pay off your creditors may take up to 2 weeks to clear, depending on the creditor.

Read Full Review
SoFi
Check rate

on SoFi's website

SoFi

5.0

NerdWallet rating 
SoFi

Est. APR

5.99 - 19.63%

Loan Amount

$5,000 - $100,000

Min. Credit Score

680
Check rate

on SoFi's website


Min. Credit Score

680

Key facts

SoFi offers online personal loans with consumer-friendly features for good- and excellent-credit borrowers.

Pros

  • No fees.

  • Offers co-sign and joint loan options.

  • Offers .25% rate discount for setting up autopay.

  • Offers unemployment protection.

  • Provides mobile app to manage your loan.

Cons

  • No secured loan option.

Qualifications

  • Must legally be an adult in your state.

  • Must be a U.S. citizen, permanent resident or visa holder.

  • Must be employed, have sufficient income or have an offer of employment to start within the next 90 days.

Available Term Lengths

2 to 7 years

Fees

  • Origination fee: None.

  • Late fee: None.

Disclaimer

Fixed rates from 5.99% APR to 19.63% APR (with AutoPay). SoFi rate ranges are current as of July 30, 2021 and are subject to change without notice. Not all rates and amounts available in all states. See Personal Loan eligibility details. Not all applicants qualify for the lowest rate. Lowest rates reserved for the most creditworthy borrowers. Your actual rate will be within the range of rates listed above and will depend on a variety of factors, including evaluation of your credit worthiness, income, and other factors. See APR examples and terms. The SoFi 0.25% AutoPay interest rate reduction requires you to agree to make monthly principal and interest payments by an automatic monthly deduction from a savings or checking account. The benefit will discontinue and be lost for periods in which you do not pay by automatic deduction from a savings or checking account.

Read Full Review
Avant
See my rates

on NerdWallet's secure website

Avant

4.0

NerdWallet rating 
Avant

Est. APR

9.95 - 35.99%

Loan Amount

$2,000 - $35,000

Min. Credit Score

550
See my rates

on NerdWallet's secure website


Min. Credit Score

550

Key facts

Avant's low starting rates make it a good option for borrowers with low credit scores and income.

Pros

  • Able to fund loans the next business day.

  • Option to change your payment date.

  • Soft credit check with pre-qualification.

  • Offers secured loan option.

Cons

  • Charges an origination fee.

  • Does not offer direct payment to creditors with debt consolidation loans.

  • No co-sign or joint loan option.

Qualifications

  • Minimum credit score of 550.

Available Term Lengths

2 to 5 years

Fees

  • Administrative fee: Up to 4.75%.

  • Late fee: $25 (most states).

  • Unsuccessful payment fee: $15 (most states).

Disclaimer

A $5,700 loan with an administration fee of 4.75% and an amount financed of $5,429.25, repayable in 36 monthly installments, would have an APR of 29.95% and monthly payments of $230.33. Minimum loan amounts may vary by state. If approved, the actual rate and loan amount that a customer qualifies for may vary based on credit determination and other factors. An administration fee of up to 4.75% will be deducted from the loan proceeds. Avant branded credit products are issued by Webbank, member FDIC

Read Full Review
Prosper
Check rate

on Prosper's website

Prosper

4.5

NerdWallet rating 
Prosper

Est. APR

7.95 - 35.99%

Loan Amount

$2,000 - $40,000

Min. Credit Score

640
Check rate

on Prosper's website


Min. Credit Score

640

Key facts

Peer-to-peer lender Prosper has rates and fees that compare to other lenders for good-credit borrowers.

Pros

  • Option to change your payment date.

  • Offers joint loan.

  • Offers wide range of loan amounts. 


Cons

  • No rate discount for autopay.

  • Charges origination and late fees.

  • Borrowers can choose from only two repayment term options.

Qualifications

  • Minimum credit score: 640; borrower average is 726.

  • Minimum credit history: 2 years.

  • Minimum income: No minimum income requirement; borrower average is $113,000.

  • Maximum debt-to-income ratio: 50% (excluding mortgage); borrower average is 18% with housing payment.

  • No bankruptcies filed within the past year.

  • At least three open accounts on credit report.

  • Fewer than five credit bureau inquiries in the last six months.

  • Must be at least 18 years old.

  • Must provide Social Security number and a U.S. bank account.


Available Term Lengths

3 to 5 years

Fees

  • Origination fee: 2.41 to 5%.

  • Late fee: $15 or 5% of unpaid amount (whichever is greater).

  • Insufficient funds fee: $15.

Disclaimer

For example, a three-year $10,000 personal loan would have an interest rate of 11.74% and a 5.00% origination fee for an annual percentage rate (APR) of 15.34% APR. You would receive $9,500 and make 36 scheduled monthly payments of $330.90. A five-year $10,000 personal loan would have an interest rate of 11.99% and a 5.00% origination fee with a 14.27% APR. You would receive $9,500 and make 60 scheduled monthly payments of $222.39. Origination fees vary between 2.41%-5%. Personal loan APRs through Prosper range from 7.95% to 35.99%, with the lowest rates for the most creditworthy borrowers. Eligibility for personal loans up to $40,000 depends on the information provided by the applicant in the application form. Eligibility for personal loans is not guaranteed, and requires that a sufficient number of investors commit funds to your account and that you meet credit and other conditions. Refer to Borrower Registration Agreement for details and all terms and conditions. All personal loans made by WebBank, Member FDIC.

Read Full Review
RocketLoans
See my rates

on NerdWallet's secure website

Rocket Loans

4.0

NerdWallet rating 
RocketLoans

Est. APR

5.97 - 29.69%

Loan Amount

$2,000 - $45,000

Min. Credit Score

640
See my rates

on NerdWallet's secure website


Min. Credit Score

640

Key facts

Rocket Loans offers relatively low rates for borrowers with fair credit, and funding can be as fast as the same business day.

Pros

  • Soft credit check with pre-qualification.

  • Competitive rates among fair-credit lenders.

  • Offers a .3% rate discount for setting up autopay.

  • Able to fund loans the same day.

  • Offers small loans of $2,000.

Cons

  • Charges origination fee.

  • Does not offer direct payment to creditors with debt consolidation loans.

  • No option to choose or change your payment date.

  • Borrowers can choose from only two repayment term options.

  • No co-sign, joint or secured loan option.

Qualifications

  • Minimum credit score: 640; borrower average is 710.

  • Minimum credit history: Over two years.

  • Minimum annual income: $24,000; borrower average is $85,000.

  • Maximum debt-to-income ratio: 40% or 70% including mortgage; borrower average is 14%.

  • Must be at least 18 years old (19 in Alabama and Nebraska).

  • Must provide Social Security number.

Available Term Lengths

3 to 5 years

Fees

  • Origination fee: 1% to 6%.

  • Late fee: $15 after 10-day grace period.

  • Unsuccessful payment fee: $15.

Disclaimer

All personal loans are made by Cross River Bank, a New Jersey state chartered commercial bank, Member FDIC, Equal Housing Lender. All loans are unsecured, fully amortizing personal loans. Eligibility for a loan is not guaranteed. Please refer to our Disclosures and Licenses page for state required disclosures, licenses, and lending restrictions. Borrower must be a U.S. citizen or permanent U.S. resident alien at least 18 years of age (in Nebraska and Alabama a borrower must be at least 19 years of age). All loan applications are subject to credit review and approval. Offered loan terms depend upon your credit profile, requested amount, requested loan term, credit usage, credit history and other factors. Not all borrowers receive the lowest interest rate. To qualify for the lowest rate, you must have excellent credit, meet certain conditions, and select autopay. Rates and Terms are subject to change at any time without notice. Please refer to RocketLoans.com and our Terms of Use for additional terms and conditions.

Read Full Review

How much does a loan for landscaping cost?

The cost to add landscaping, like flowers and shrubs, can range between $600 and $9,000, while a new patio or pathway can cost $830 to $7,000, according to home improvement website HomeAdvisor.

To determine the cost of a landscaping loan, you need to know how much you’re going to borrow, and the loan’s annual percentage rate and repayment term.

APRs for personal loans range from about 6% to 36%, and repayment terms are usually between two and five years.

A $6,000 landscaping loan repaid over two years would cost between $6,382 and $8,503.

Once you know the loan amount, calculate your monthly payments to see whether a personal loan is an affordable option.

Pros and cons of landscaping loans

Pros

  • Fast funding. Most lenders can fund a loan within a week after you apply, and some can fund as quickly as the business day you apply.

  • Fixed payments. Personal loans have fixed interest rates and are repaid in predictable, fixed monthly installments. You know exactly what you owe each month and when the loan will be repaid.

  • Easily compare offers. Many lenders let you pre-qualify for a personal loan to see your estimated rates, terms and loan amount before you formally apply. Pre-qualifying doesn’t impact your credit score.

Cons

  • High rates. Personal loan APRs are often higher than other financing options like home equity loans and lines of credit.

  • No tax benefits. Interest on personal loan payments isn’t tax-deductible. If you use home equity to pay for a home improvement project, you might be able to deduct interest.

  • High borrower standards. Lenders offer the lowest rates and largest loans to borrowers with good or excellent credit (690 or above FICO), high income and little debt. Some lenders offer personal loans to borrowers with fair or bad credit (689 or lower FICO), but they typically have high rates.

How to get a loan for your landscaping project

Here are four steps to getting a landscaping loan with the best rates and features for your project.

  1. Check your credit. Comb through your credit report for any errors before you apply. You can get a free copy of your report at annualcreditreport.com. Address any issues, like delinquent accounts, before a lender reviews your credit.

  2. Compare lenders. Decide which features are important to you, like fast funding, a mobile app to manage your loan, an autopay discount or low rates. Then, find the lender that can offer them. Pre-qualify with multiple lenders to feel confident you're getting the best rate and terms available.

  3. Gather documents. Many lenders require at least income verification, some form of identification and verification of address. Gather pay stubs, W-2s, utility bills or a copy of your lease and your Social Security number before you apply. Having them ready ahead of time will expedite the process.

  4. Apply. Most online lenders say an application takes a few minutes to complete, while some banks and credit unions require you to visit a branch to apply. In most cases, lenders say they can fund an approved loan within a week of application.

Landscaping loan alternatives

Savings

About two-thirds of homeowners planned to use their savings for home improvement projects in 2020, according to a survey from online lender LightStream. Savings is the cheapest way to pay for a landscaping project because you won’t pay any interest.

Credit cards

High interest rates on most credit cards make them expensive financing options for high-priced updates. But for smaller DIY projects that require some shopping, the plastic in your pocket might do the trick. A credit card for home improvements can help you avoid interest or earn rewards.

Credit cards with perks are often reserved for borrowers with good or excellent credit scores. Paying off your balance each month can help you build credit. But if your purchases bring you too close to the card’s limit, your credit utilization will go up and your credit score could drop.

Here are three credit card options for DIY and small outdoor projects:

  • Use a 0% APR card when you feel confident that you can pay off the balance during the promotional period — typically 12 to 18 months. If surprise expenses put you over budget and you can’t pay the card’s balance by the end of the introductory period, you’ll pay the regular APR.

  • A rewards card can get you cash back or other perks when you make certain types of purchases. Some cards have rewards specifically for home improvement purchases. Try to avoid carrying a balance for too long or the interest you end up paying could offset the rewards you earn.

  • Store credit cards can reward you for buying most of your landscaping supplies from one store. Store cards’ lower credit requirements make them more accessible to fair-credit customers. You may be limited to using store credit cards at the store that issues them.

HELOC or home equity loan

Home equity loans and home equity lines of credit are also popular ways to finance renovations. They have lower rates and longer repayment terms than personal loans and require you to use your home as collateral.

Here are a few things to know about using your home equity to pay for your upcoming project.

Collateral: With both options, you use your home as collateral to borrow from your equity. This helps to keep rates low, but it means a lender can take your home if you fail to repay.

Tax benefits: You can write off the interest you pay on a HELOC or home equity loan. The tax benefits are the same for both products, and they aren’t available for personal loans or credit cards.

Cost: The long terms on HELOCs and home equity loans — typically 10 or more years — also keep their rates lower than personal loans. If your renovation is small, it may not be worth the potential costs and effort of appraisal, underwriting and closing the loan.

Compare home equity loans and HELOCs to decide which is best for your landscaping project.

Last updated on August 17, 2020

Methodology

NerdWallet's ratings for personal loans award points to lenders that offer consumer-friendly features, including soft credit checks, no fees, transparency of loan rates and terms, flexible payment options, accessible customer service, reporting of payments to credit bureaus and financial education. We also consider the number of complaints filed with agencies like the Consumer Financial Protection Bureau. This methodology applies only to lenders that cap interest rates at 36%, the maximum rate financial experts and consumer advocates agree is the acceptable limit for a loan to be affordable. NerdWallet does not receive compensation of any sort for our reviews.

To recap our selections...

NerdWallet's Personal Loans for Landscaping Projects