Personal Installment Loans for Home Improvement
Whether for a repair, renovation, or other upgrade, Security Finance offers personal installment loans that may be used for a variety of home projects. These loans may provide fast access to funds when you need them, with a repayment structure that fits your budget.*
Start My Loan Find a LocationHow Personal Installment Loans for Home Renovations Work
Personal loans for home improvement can provide immediate access to funds for home projects, with the interest and balance paid back in installments over time.
Personal loans can be used for repairs, renovations, or other upgrades borrowers need for their home. These types of loans are sometimes referred to as home improvement loans, even though they are personal loans used for a variety of purposes.
Projects You Might Cover with Personal Installment Loans for Home Renovations
A personal installment loan may be used for a variety of home-related projects, depending on your needs and financial situation. Once you’ve secured the funds, the money is yours to use. Security Finance’s personal installment loans are commonly spent on projects such as:
Renovations
Painting, resurfacing a driveway, installing new kitchen countertops, and other renovations
Emergency repairs
Plumbing fixes, patching a roof, or servicing a non-working HVAC unit
In-home upgrades
New appliances, updated window treatments, or upgraded furniture
Outdoor projects
Building a deck, installing a fence, adding solar panels, or other outdoor upgrades
In some situations, borrowers may choose to use a personal installment loan when:
- Safety issues require urgent attention, for example, electrical issues that could create a fire risk, or a heating system that isn’t functioning when a winter storm is approaching
- Delaying could lead to further damage, for example, a leaking toilet or a damaged roof
- Missing a limited-time sale or an expiring offer could deprive you of substantial savings
- A project to add energy-efficient appliances or to upgrade insulation could generate long-term savings
Eligibility Criteria and Loan Terms
Applying for a personal installment loan is simple and straightforward. We review each application individually and consider a variety of factors, including income, credit history, existing financial obligations, and ability to repay. In addition, our team is always eager to help customers secure much-needed funds to overcome their short-term financial challenges.
The typical term for a personal loan for home improvement is between two and five years when the money is borrowed from a bank. Security Finance’s loans for home improvement, on the other hand, are typically smaller than a bank-provided loan. Our loan amounts range from $494 to $3,516, depending on the state where the loan is issued and the borrower’s financial details. The repayment periods vary from a minimum of 6 months to a maximum of 30 months, depending on your loan amount and state regulations. You can choose to pay off your loan early at any time without incurring a prepayment penalty.
How To Apply for a Security Finance Personal Installment Loan
You can apply for a Security Finance installment loan either in person at a local branch or by filling out an online application. New customers can also call their local branch to discuss their loan options.
- Your current (and possibly previous) residence
- Your employment history (and/or information about income sources you’ll use to repay the loan)
- Your Social Security number
- Your monthly expense items
You will also be required to authorize our team to obtain a credit bureau report to assess your credit and payment history. In most cases, you can receive a loan decision in real time through our online application process. First-time loan disbursements must be completed in person at a local branch.
FAQs About Using Personal Installment Loans for Home Renovations
These are some commonly asked questions about our installment loans for home improvement:
Yes, taking out any loan can impact your credit score. During the loan application process, a “hard inquiry” for a potential lender to view your credit report can result in a slight and temporary lowering of your credit score. This is because it signals to lenders that you are actively seeking new lines of credit, potentially enabling you to accrue more debt. Over the long term, though, making consistent, on-time payments on the balance of your loan for home improvement might help you build good credit and boost your credit score.
A personal installment loan may provide a structured repayment option with a defined payoff schedule, which some borrowers find helpful for budgeting. With a clear, defined payoff schedule and predictable monthly payments, installment loans can also simplify the budgeting process and help consumers build good credit by making regular, on-time payments. (Find more information about the differences between installment loans and credit cards.)
When you need money fast for your home improvement project, Security Finance can be a great option for getting funds quickly and easily. Security Finance has provided simple and secure installment loans for 70 years. We provide personalized service from a team of experts committed to helping customers in times of financial need and treating them with the respect they deserve.
The Pew Research Center has recognized traditional installment loans as a safe and affordable financial product. If you decide you’d like to pay off your loan balance early, you can do so at any time without any prepayment penalty.
Access Funds When You Need Them
At Security Finance, we offer a range of fast and simple-to-secure loans with more flexible options than those typically found at a bank — all without the need for an account or a high credit score. Plus, our installment loans follow set terms and offer affordable monthly payment plans, with no balloon payments or prepayment penalties.
Visit securityfinance.com today to learn more about all of our loan options and, when you’re ready, get your loan started.
Start My Loan Find a Location*Subject to approval and underwriting. Processing times may vary by state and application type.