Home Improvement Loan Calculator
%
y
Monthly payment (Ends 06/2028)
$448.86
$772.64
$10,772.64
$500
$9,500
No impact to your credit score
$10,772.64
Total Cost
Total interest
Total loan amount
Home Improvement Loan Calculator
Home improvement loans can provide fast funding for homeowners looking to get started quickly on repairs or renovations.
Use our calculator to estimate monthly payments and total interest on your loan, based on the loan amount, term and interest rate you select.
Updated June 15, 2026
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Understanding your home improvement loan calculator results
Here's what the calculator shows you:
Monthly payment: What you can expect to pay each month. A longer term can lower your monthly payments but increase the total interest.
Total interest: The total amount of interest you’ll pay over the lifetime of the loan. Your interest rate is based primarily on factors like your credit, income and debt-to-income ratio. The loan’s amount, term and purpose can also affect your rate.
Total cost of loan: The amount of money you'll have repaid at the end of the loan. This number depends on the amount you borrow, your interest rate and any origination fees.
Results with an origination fee
An origination fee is a one-time fee that some lenders charge as an upfront percentage of the loan, usually 1% to 10% of the loan amount. It’s typically deducted from the loan amount, so if you take out a $10,000 loan with a 5% origination fee, you’ll receive $9,500.
Questions this calculator can help you answer
How does your loan amount change your costs?
Try out different loan amounts to see how they affect your monthly payments and total costs. That insight may help you evaluate different versions of your home improvement project.
For example, you can compare how the cost of a full kitchen remodel would affect your monthly payments versus a partial renovation. Or you could see how different material choices would affect your payments.
What rate do you need to get an affordable monthly payment?
Once you know the total amount you need to borrow for your project, experiment with different interest rates to find a monthly payment that you can afford. This step can help you identify the rate you need to make the loan fit within your budget. That information will be helpful as you compare offers.
How does one lender’s offer compare to another’s?
If you're at the point where you’re considering multiple lenders’ offers, enter each loan's rate and term to compare payments and total costs.
» COMPARE: Best personal loans for home improvement
Home improvement loan rates
Home improvement loan rates range from about 7% to 36%, with the lowest rates going to borrowers with high credit scores and income. Rates are fixed, so monthly payments don’t change.
Here are the average APRs by credit band that borrowers who pre-qualified for home improvement loans with NerdWallet received over the last 30 days:
Borrower credit rating | Score range | Estimated APR |
|---|---|---|
Excellent | 720-850. | 14.29% |
Good | 690-719. | 21.82% |
Fair | 630-689. | 23.28% |
Bad | 300-629. | 28.91% |
Source: Average rates are based on aggregate, anonymized offer data from users who pre-qualified through NerdWallet in the last 30 days. Rates are estimates only and not specific to any lender.
How to get a home improvement loan
Here are four steps to apply for an unsecured home improvement loan.
- Get a firm cost estimate. Home improvement loans are distributed once in a lump sum, so you won’t be able to draw more or less than the amount you’re approved for. Having a solid idea of your project’s cost will help you know how much to apply for. (See below for average costs of home improvement projects.)
- Pre-qualify. Many lenders let you pre-qualify to see potential loan rates, monthly payments and terms. Pre-qualifying requires a soft credit pull, which doesn’t affect your credit score and lets you compare loan offers from multiple lenders. The best loan option costs the least in total interest and has payments that fit your monthly budget.
- Prepare documents. Once you've chosen a lender, gather the documents you need to apply. These can include W-2s, pay stubs and proof of address.
- Apply. Many lenders let you apply for a personal loan online, but some banks or credit unions may require a branch visit. Lenders will run a hard credit check, which can temporarily drop your credit score a few points. Lenders typically notify you of a decision the same day and, if you’re approved, fund the loan within a week.
🤓 Nerdy Tip
Borrowers with low credit scores (below 630) may qualify for home improvement loans with lenders that consider additional factors like work and educational history when assessing an application. See the best home improvement loans for bad credit.
Costs of home improvement projects
To get a sense of how much you may need to borrow, here are estimates for common home improvement projects.
Project type | Estimated cost |
|---|---|
$82,793. | |
$26,138. | |
$18,263. | |
$30,505. | |
$31,871. | |
$65,909. | |
$3,517. |
Sources: Remodeling 2025 Cost vs Value Report, EnergySage, Angi.
Other ways to finance a home improvement project
Factors like your equity, credit profile, income, savings and how quickly you need funds can affect how you pay for a remodel or repair. Explore all options to find the best way to pay for your project.
Home equity loans and lines of credit
With a home equity loan, you can typically borrow 80% to 85% of your home’s value, minus what you owe, and make payments for up to 30 years.
Like a personal loan, you get the funds in a lump sum and repay it in fixed monthly payments. A home equity loan may be the right option if you can lock in a low rate and want more time to pay off the loan.
🤓 Nerdy Tip
Home equity financing typically comes with longer repayment periods than personal loans. As a result, monthly payments may be lower, but it can take longer to pay off the debt. See more on personal loans vs. home equity loans.
» MORE: Personal loans vs. home equity loans
A home equity line of credit, or HELOC, lets you tap into your home’s equity as needed. A HELOC may be an option if you’re unsure how much your home improvement project will cost, or if you plan to pay for it in stages.
You can typically get a line of credit worth up to 85% of your home’s value, minus what’s owed on mortgages. HELOCs have variable interest rates so even if you start with a low rate, it could rise over the long repayment period.
The application process for home equity financing can take up to six weeks and may require a home appraisal, plus paying closing costs.
Cash-out refinance
A cash-out refinance may be a good choice if you have equity in your home and if current mortgage rates are lower than what you’re paying. The new home loan is for a larger amount than the existing one, and you get the difference in cash.
Cash-out refinancing may be better for larger, long-term projects because of the closing costs and lengthy underwriting and appraisal processes it requires.
Credit cards
Credit cards’ high interest rates make them an expensive way to pay for a large renovation. But used strategically, a credit card can help you build credit, earn rewards or finance the project interest-free.
» MORE: How credit cards can help you renovate
Reward and store cards can get you cash back on some of your purchases and help you build credit at the same time. If you plan to go to the same hardware store for the majority of a DIY project, for example, you can use a store card to earn rewards. Pay the card off in full each month to avoid letting interest outweigh the perks.
A 0% intro APR credit card could be an interest-free way to pay for a small project. These cards require good or excellent credit to qualify. They waive interest for a period of about 15 to 21 months, so be sure you can pay off the card’s balance in full before the introductory offer expires.
Government assistance
Federal government programs can help homeowners finance some improvements to their property. The Federal Housing Administration offers two programs: Title I loans and Energy Efficient Mortgages. These programs can make repairs and renovations affordable if you meet the criteria.
