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Home Improvement Loan

The loan you need to put your home-improvement plans into action.

Apply for an Unsecured Loan Apply for a Secured Loan

Or call 1-800-561-9433

Make a Loan Payment

Home Improvement Loan Interest Rate  APR  Points 
Unsecured 6.24% 6.279%
Secured 10 Year Fixed 7.24% 7.411% 0.0
Secured 15 Year Fixed 8.24% 8.366% 0.0

Unsecured Fixed Rate Home Improvement Loan Rates: Maximum Loan Amount of $25,000. Fees: $125 processing fee applies to all Fixed Rate Unsecured Home Improvement Loan applications. Secured Loan: Home Improvement Closed-End Loans: Annual Percentage Rate (APR). Combined Loan to Value 101% to 133%. Maximum Loan Amount of $250,000. APRs above are calculated using loan amounts of $50,000, credit score of 710 or greater and loan to value of greater than 100% for a single family residence. Closing costs: A loan origination fee of $375 and a title search fee will apply. Additional state or local mortgage fees or taxes may apply. The actual closing costs generally range between $500 to $1,200, depending on the location of the property, the amount of the loan and other factors. Payments: stated payments do not include hazard insurance, property taxes, or flood insurance. Your actual payment may be higher. Tax Deductibility: Elements Financial does not offer tax advice. Please consult your tax advisor regarding the deductibility of interest. Programs, rates, terms and conditions are subject to change without notice. Payments shown: Do not include taxes and insurance premiums. Each individual's Annual Percentage Rate (APR) is determined by the applicant's credit history. Not all applicants will qualify for our displayed lowest rates.

Home Improvement Loan

KEY BENEFITS

  • Available as an unsecured or a secured loan to fit your need
  • You can update your home now and pay for the improvement on your own time

HOME IMPROVEMENT LOAN DETAILS

  • Easy access to up to $25,000 for your home improvement project with our unsecured, fixed-rate option
  • Access to larger funds (up to 133% of the current value of your home up to $250,000) through the secured option
  • Receive personal guidance and a direct line of communication to your experienced Elements loan officer1
  • Choose the closing location that works best for you

 

Questions?

Experienced, helpful loan professionals are ready to support you!

1-800-561-9433

Live Chat

Chat Available Mon-Fri, 8 am-5 pm Eastern

What is the Difference Between an Unsecured and Secured Home Improvement Loan?

 

Fixed-Rate, Unsecured Home Improvement Loan

  • Quick process for lower lending amounts
  • Typically has shorter terms
  • Not tied to collateral
  • Borrow up to $25,000

10-Year or 15-Year Fixed-Rate, Secured Home Improvement Loan

  • Connected to a piece of collateral—in this case, your home
  • Borrow up to 133% of the current value of your home (up to $250,000)
  • Typically has lower interest rates
  • Can be easier to get if you need to rebuild credit
  • A good option if you have lower equity in your home
  • The lender can take possession of the collateral if you do not repay the loan as agreed

 

 

Why Consider Elements for a Home Improvement Loan

 

Elements Financial is a credit union. That means we’re like a bank, only better! Securing your mortgage through Elements Financial means you will benefit from:

  • Better rates & fewer fees – On average, an Elements Financial member saves an estimated $309 each year compared to customers elsewhere.2
  • Personal attention – Headquartered in Indianapolis, with member service available 24/7.
  • Today’s technology – We offer online banking, making it easy to pay your mortgage every month.
  • Heritage – Nearly 90 years of experience building and nurturing lifelong relationships with members.
  • Seasoned professionals – Our experienced team will walk you through the mortgage and home equity processes, step-by-step.1
  • Credit counseling – If you're working toward a mortgage application, pursue our confidential and supportive assistance to develop healthier financial habits for life.

Frequently Asked Questions

 

Q: Are there closing costs associated with a Home Improvement Loan?

A: An appraisal fee may be necessary, depending on the value and equity of the loan.

 

How to Get Started

 

You can apply online in as little as 10 minutes! Or call 1-800-561-9433 to get started.

What you’ll need to apply:

    • Your government-issued ID (driver’s license, state ID or passport)
    • Estimates of your household income, assets, home value and price you paid for your home

What to expect during the application process:

  1. We’ll contact you within 1 business day after you submit your application to review documentation that we’ll need from you and answer questions you may have.
  2. We’ll contact you with a decision within 10 business days.
  3. That’s it – your Elements Home Improvement Loan can be put to work!
  1. 1 Nationwide Mortgage Licensing System Registrants: Nationwide Mortgage Licensing System Registrants: Elements Financial FCU 410639, Barbara L Allen 609733, Luis Aparicio 144043, Cynthia Bell 427359, Mary Bell 562458, Deborah Benson 1093386, Nyla Bivens 1128100, Jamie Bonner 435395, Laura Bordenkecher 1590841, Dawn Michelle Bruce 899516, Julie Bowering 443400, Tracee Buckrop 609727, Karla Chevrie 404630, Christine Clark 609734, Mary Ann Deckard 1259646, Ashlie M Dew 539208, Curtis Neal Dodd 200259, Ron E Ellis Jr 1207645, Kara Michelle Fischer 1469113, Tami Renee Forsythe 609730, Terry Foster 484700, Lenore Gallagher 975065, Sherry Gaw 988244, Alicia Gerber 968201, Jennifer Giddens 609735, Robert Goodwin 975067, Abigail Hall 1469114, Theresa Iaria 1128103, Christoper Kerr 143199, Andee Kettlebar 443776, Jill Kidwell 609731, Sara Keedy 1512646, Sean Kiely 425511, Teresa Ledford 444283, Cindy Leisure 1080329, Rebecca Littell 996455, Kristy Mars 609725, Beverly Marshall 444941, Stacey McDaniel 1157444, Alexander J Menestrina 1190426, Justin D Montour 1198316, Terri Mossbrucker 1385461, Kristina Mowery 916118, Amber D Murphy 1082684, Constance Nelson 975071, Regina Norman 1080327, Shaneka A Pedersen 426201, Meghan Pedigo 1601304, Janene Petree 1529353, Kim Purkhiser 1313210, Tania Query 608383, Michael J. Quinn 563350, Rebecca Rice 1007612, Miranda Grace Renee Rizzo 1198315, Janai S Roberts 252636, Susan Roberts 975068, Ron Senci 1068152, Brad Smith 906855, Amy Lynn Stokes 1387213, Bradley Thompson 609732, Alycia Willert 1102478, Judy Wilson 975070, Chelsie Winbun 1601312