Traditionally, homeowners had 3 ways to finance their home’s remodel:

1. Home Equity Loan – a loan taken out against the equity in your home
2. Home Equity Line of Credit (HELOC) – a line of credit drawn down as needed
3. Refinancing – refinancing the home’s mortgage

There are some government programs that offer financial assistance for home improvement, including the 203(k) program. This program typically takes 60 days and has a maximum loan size of $35,000.

203 (k) programs offer some of the lowest interest rates, but are only eligible for primary residence, may require mortgage insurance premium, and include extensive paperwork.

Now you can borrow from companies that will get the money to you in 10 days. LightStream and SoFi (up to $100,000), Upgrade (up to $50,000), Rocket Loans (up to $45,000), Marcus by Goldman Sachs (up to $40,000), BestEgg (up to $35,000) offer loans for home renovation projects.