Our team of experts is here to answer all your personal loan questions and provide unbiased product reviews. We understand that sometimes you need extra funds to complete a home improvement project, whether it’s building a deck, remodeling your bathroom, or replacing your roof. That’s where a personal loan can come in handy.
A personal loan is a fixed-rate loan that is typically paid off in monthly installments. It offers a variety of term length options, allowing you to choose what works best for your budget. When it comes to finding the best personal loan lenders for home improvements or a home renovation, we’ve done the research for you. Here are a few places you can begin your search.
1. LightStream Personal Loan:
– Regular Annual Percentage Rate (APR): 7.99% to 25.49% (with AutoPay discount, rates vary by loan purpose)
– Loan Amount Range: $5,000 to $100,000
LightStream offers competitive APR rates and approval decisions that are typically made shortly after applying. If you qualify, you can even receive funding on the same day. With a wide range of borrowing amounts and terms, LightStream is a popular choice. Plus, there are no fees associated with their loans. However, it’s important to note that LightStream loans are only available to people with good credit and there is no pre-approval option.
2. SoFi Personal Loan:
– Regular Annual Percentage Rate (APR): 8.99% to 25.81% (with all discounts)
– Loan Amount Range: $5,000 to $100,000
SoFi offers high maximum loan limits and competitive APR rates. They also provide unemployment protection, which allows you to apply for a three-month forbearance if you lose your job during your loan repayment. SoFi loans do not require any fees and you can usually receive your funds within a few business days after your application is approved. However, they do have a high minimum credit score requirement and minimum loan amount. Additionally, there is no in-person support available.
3. Avant Personal Loan:
– Regular Annual Percentage Rate (APR): 9.95% to 35.99%
– Loan Amount Range: $2,000 to $35,000
Avant offers quick funding, with funds generally deposited by the next business day. They do not have any prepayment penalties, allowing you to pay off your loan early without any additional fees. However, it’s important to note that Avant does have multiple types of fees and a high maximum APR. Their maximum loan limit is also lower compared to other lenders.
It’s important to carefully consider your options and choose the personal loan that best fits your needs. Remember to review the loan amounts, loan term lengths, and any additional features or restrictions that may apply. Each lender has its own requirements and offerings, so take the time to compare and find the best loan for your specific circumstances.
Please note that the information provided is based on our own assessment and research. Keep in mind that we may receive a commission from our partners for loans funded through our platform, but our opinions are our own. We strive to provide unbiased and reliable information to help you make informed decisions.
Whether you choose LightStream, SoFi, Avant, or another lender, a personal loan can provide the financial support you need to complete your home improvement projects. Apply online and start the process today.
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