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Dealing with an unexpected home repair can be a stressful and frustrating experience. Unlike home improvements or renovations that can be planned for, home repairs tend to be emergencies that need to be fixed ASAP.
In this case, a home repair loan could help you get the funds you need to cover the expense.
Here’s what you should know about home repair loans:
- Home repair personal loans
- 5 options for home repair loans
- How much will a home repair personal loan cost?
- How to apply for a home repair personal loan
- How to qualify for a home repair personal loan
- Are home repair loans tax deductible?
- Are there any government grants available for home repairs?
- What is the Weatherization Assistance Program (WAP)?
- Do you need a home improvement loan instead?
Home repair personal loans
A home repair loan is a type of personal loan that can be used to pay for home repairs. While this kind of loan can be similar to a home improvement loan, home repair loans might come with faster funding to help you quickly cover the needed repairs.
Before you take out a home repair loan, it’s important to shop around and compare your options from as many lenders as possible. This way, you can find the right loan for your needs.
Here are Credible’s partner lenders that offer personal loans for home repairs:
| Lender | Fixed rates | Min. credit score | Max. loan amounts |
|---|---|---|---|
 Credible Rating  Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.   View details | 9.95% – 35.99% APR | 550 | $35,000** |
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 Credible Rating Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.  View details | 6.79% – 17.99% APR | 740 | $35,000 |
| |||
 Credible Rating Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.  View details | 5.99% – 29.99% APR | 600 | $35,000 |
| |||
 Credible Rating Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology. View details | 6.99% – 24.99% APR | 660 | $35,000 |
| |||
 Credible Rating Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology. View details | 7.99% – 29.99% APR | Not disclosed by lender | $50,000 |
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 Credible Rating Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology. View details | 10.68% – 35.89% APR | 600 | $40,000 |
| |||
 Credible Rating Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology. View details | 15.49% – 35.99% APR | 580 | $36,500 |
| |||
 Credible Rating Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology. View details | 2.49% – 19.99% APR | 660 | $100,000 |
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 Credible Rating Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology. View details | 6.99% – 19.99% APR1 | 660 (TransUnion FICO®️ Score 9) | $40,000 |
| |||
 Credible Rating Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology. View details | 18.00% – 35.99% APR | None | $20,000 |
| |||
 Credible Rating Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology. View details | 5.99% – 17.99% APR | 670 | $20,000 (depending on loan term) |
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 Credible Rating Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology. View details | 6.95% – 35.99% APR | 640 | $40,000 |
| |||
 Credible Rating Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology. View details | 5.99% – 18.83% APR | Does not disclose | $100,000 |
| |||
 Credible Rating Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology. View details | 8.93% – 35.93% APR7 | 580 | $50,000 |
 Credible Rating Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology. View details | 5.94% – 35.97% APR | 580 | $50,000 |
| |||
 Credible Rating Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology. View details | 6.46% – 35.99% APR4 | 580 | $50,000 |
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| Compare rates from these lenders without affecting your credit score. 100% free! Compare Now Trustpilot | |||
| All APRs reflect autopay and loyalty discounts where available | LightStream disclosure | Read more about Rates and Terms |
Avant
Best for: Borrowers with fair credit
If you have fair credit, Avant might be a good choice for a home repair personal loan. You can borrow $2,000 to $35,000* with repayment terms ranging from two to five years**.
4.6 Credible rating Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology. Rates and terms 
Fees and Discounts 
Customer Experience Avant Personal Loans
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- Fixed APR: 9.95% – 35.99% APR
- Variable APR: N/A
- Min. credit score: 550
- Loan amount: $2,000 to $35,000**
- Loan terms (years): 2, 3, 4, 5*
- Time to fund: As soon as the next business day (if approved by 4:30 p.m. CT on a weekday)
- Fees: Origination fee
- Discounts: Autopay
- Eligibility: Available in all states except CO, IA, HI, VT, NV NY, WV
- Customer service: Phone, email
- Soft credit check: Yes
- Loan servicer: Avant
- Loan Uses: Debt consolidation, emergency expense, life event, home improvement, and other purposes
- Min. Income: $1,200 monthly
Pros
- Fast loan funding
- Accepts poor and fair credit scores
- Fast online process
Cons
- Origination fee up to 4.75%
- Charges late and dishonored payment fees
- Not available in Colorado, Iowa, Hawaii, Nevada, New York, Vermont, or West Virginia
Axos Bank
Best for: Borrowers with excellent credit
With Axos Bank, you can borrow $5,000 to $35,000 with terms from one to five years. If you’re approved, you could get your funds as soon as the next business day.
4.2 Credible rating Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology. Rates and terms Fees and Discounts 
Customer Experience Axos Personal Loans
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- Fixed APR: 6.79% – 17.99% APR
- Variable APR: N/A
- Min. credit score: 740
- Loan amount: $5,000 to $35,000
- Loan terms (years): 1, 2, 3, 4, 5
- Time to fund: Next business day
- Fees: No prepayment penalty
- Discounts: None
- Eligibility: Available in all 50 states
- Customer service: Phone
- Soft credit check: Yes
- Min. Income: Does not disclose
- Loan Uses: Debt consolidation, home improvement, self-employment, and other purposes
Pros
- Fast loan funding
- No prepayment penalty
- Variety of loan uses
Cons
- Could be hard to qualify if you don’t have good to excellent credit
- Doesn’t disclose minimum income requirements
- No discounts offered
Best Egg
Best for: Borrowers with good credit
In addition to your credit score, Best Egg also considers more than 1,500 proprietary credit attributes from sources that include external data providers and your “digital footprint” to determine creditworthiness. This means you might have an easier time qualifying with Best Egg compared to traditional lenders.
Best Egg personal loans are available from $2,000 to $50,000 with terms from two to five years.
4.1 Credible rating Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology. Rates and terms Fees and Discounts Customer Experience Best Egg Personal Loans
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- Fixed APR: 5.99% – 29.99% APR
- Variable APR: N/A
- Min. credit score: 600
- Loan amount: $2,000 to $50,000
- Loan terms (years): 2, 3, 4, 5
- Time to fund: As soon as 1 – 3 business days after successful verification
- Fees: Origination fee
- Discounts: None
- Eligibility: Available in all states except DC, IA, VT, and WV
- Customer service: Phone
- Soft credit check: Yes
- Loan servicer: Best Egg
- Min. Income: None
- Loan Uses: Credit card refinancing, debt consolidation, home improvement, and other purposes
Pros
- Competitive rates
- Fast loan funding
- Considers proprietary attributes in addition to your credit score
Cons
- Origination fees from 0.99% to 5.99%
- Charges late fees
- Not available in Iowa; Vermont; Washington, D.C.; or West Virginia
Discover
Best for: Longer repayment terms
If you’re looking for a long repayment, Discover could be a good option — you can borrow $2,500 to $35,000 with three to seven years to pay it off. Just keep in mind that choosing a longer term means you’ll pay more in interest over time.
4.4 Credible rating Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology. Rates and terms Fees and Discounts 
Customer Experience Discover Personal Loans
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- Fixed APR: 6.99% – 24.99% APR
- Min. credit score: 660
- Loan amount: $2,500 to $35,000
- Loan terms (years): 3, 4, 5, 6, 7
- Time to fund: As soon as the next business day after acceptance
- Fees: Late fee
- Discounts: None
- Eligibility: Available in all 50 states
- Customer service: Phone
- Soft credit check: Yes
- Loan Uses: Auto repair, credit card refinancing, debt consolidation, home remodel or repair, major purchase, medical expenses, taxes, vacation, and wedding
Pros
- Long repayment terms available
- Fast loan funding
- Accepts fair credit scores
Cons
- Charges late fees
- Doesn’t accept cosigners
- Can only borrow up to $35,000, which might not be enough for more expensive repairs
FreedomPlus
Best for: Borrowers with retirement savings
If you can show proof of retirement savings or plan to apply with a cosigner, FreedomPlus might be a good choice for a home repair loan — either of these might help you get a better rate. With FreedomPlus, you can borrow $7,500 to $50,000 with terms from two to five years.
4.1 Credible rating Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology. Rates and terms Fees and Discounts Customer Experience FreedomPlus Personal Loans
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- Fixed APR: 7.99% – 29.99% APR
- Min. credit score: Does not disclose
- Loan amount: $7,500 to $50,000
- Loan terms (years): 2, 3, 4, 5
- Time to fund: As soon as 2 business days
- Fees: Origination fee
- Discounts: No
- Eligibility: Available in all states except CO, CT, HI, KS, NH, NY, ND, OR, VT, WV, WI, and WY
- Customer service: Phone
- Soft credit check: Yes
- Min. Income: None
- Loan Uses: Debt consolidation, home improvement, wedding, travel, medical expenses, and other purposes
Pros
- Quick approval decisions
- Fast loan funding
- Could get a better rate by showing proof of retirement savings, applying with a cosigner, or using 85% of the loan to pay off existing debt
Cons
- Origination fees from 1.99% to 4.99%
- Must borrow at least $7,500
- Not available in Nevada
LendingClub
Best for: Borrowers who need a cosigner
If you need to apply with a cosigner, LendingClub might be a good choice — it’s one of the fewer lenders that allow cosigners on personal loans. With LendingClub, you can borrow $1,000 to $40,000 with a three- or five-year term.
4.3 Credible rating Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology. Rates and terms Fees and Discounts Customer Experience LendingClub Personal Loans
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- Fixed APR: 10.68% – 35.89% APR
- Min. credit score: 600
- Loan amount: $1,000 to $40,000
- Loan terms (years): 3, 5
- Time to fund: Usually takes about 3 days†
- Fees: Origination fee
- Discounts: None
- Eligibility: Available in all 50 states
- Customer service: Phone, email
- Soft credit check: Yes
- Loan servicer: LendingClub
- Min. Income: None
- Loan Uses: Debt consolidation, paying off credit cards, home improvement, pool loans, vacations, and other purposes
Pros
- Can apply with a cosigner
- Accepts fair credit scores
- No prepayment penalty
Cons
- Origination fees from 3% to 6%
- Charges late fees
- Limited repayment terms (3 or 5 years)
LendingPoint
Best for: Borrowers with near-prime credit
LendingPoint specializes in working with borrowers who have near-prime credit — usually meaning a credit score in the upper 500s or 600s. With LendingPoint, you can borrow $2,000 to $36,500 with terms from two to five years.
4.5 Credible rating Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology. Rates and terms Fees and Discounts Customer Experience LendingPoint Personal Loans
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- Fixed APR: 15.49% – 35.99% APR
- Min. credit score: 580
- Loan amount: $2,000 to $36,500
- Loan terms (years): 2, 3, 4
- Time to fund: As soon as the next business day
- Fees: Origination fee
- Discounts: Autopay
- Eligibility: Available in all states except NV and WV
- Customer service: Phone, email
- Soft credit check: Yes
- Min. Income: $20,000
- Loan Uses: Home improvement, consolidate debt, credit card refinancing, relocate, make a large purchase, and other purposes
Pros
- Accepts poor and fair credit
- Fast loan funding
- No prepayment penalty
Cons
- Origination fees from 3% to 6%
- Not available in Nevada or West Virginia
- Can only borrow up to $36,500, which might not be enough for more expensive repairs
LightStream
Best for: Large loan amounts
If you need to fund a large home repair, LightStream could be a good option — you can borrow $5,000 up to $100,000. Most LightStream loans come with terms from two to seven years, but if you use your loan for home improvements or repairs, you might have up to 12 years to repay it.
4.9 Credible rating Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology. Rates and terms Fees and Discounts 
Customer Experience LightStream Personal Loans
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- Fixed APR: 2.49% – 19.99% APR
- Min. credit score: 660
- Loan amount: $5,000 to $100,000
- Loan terms (years): 2, 3, 4, 5, 6, 7*
- Time to fund: As soon as the same business day
- Fees: None
- Discounts: Autopay
- Eligibility: Available in all states except RI and VT
- Customer service: Phone, email
- Soft credit check: No
- Loan servicer: LightStream
- Min. Income: Does not disclose
- Loan Uses: Credit card refinancing, debt consolidation, home improvement, and other purposes
Pros
- Large loan amounts
- Fast loan funding
- 0.50% autopay discount
Cons
- Could be hard to qualify if you have poor credit
- Doesn’t disclose minimum income requirements
- Not available in Rhode Island or Vermont
Marcus
Best for: Payment options tailored to your budget
Marcus personal loans are available from $3,500 to $40,0002 with terms from three to six years. With Marcus, you’ll have access to tailored monthly payment options designed to fit your budget.
Additionally, Marcus will let you defer one monthly payment interest-free after making 12 consecutive, on-time payments.
4.3 Credible rating Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology. Rates and terms Fees and Discounts Customer Experience Marcus Personal Loans
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- Fixed APR: 6.99% – 19.99% APR1
- Min. credit score: 660
(TransUnion FICO®️ Score 9) - Loan amount: $3,500 to $40,0002
- Loan terms (years): 3, 4, 5, 6
- Time to fund: Many Marcus customers receive funds in as little as three days
- Fees: None
- Discounts: Autopay
- Eligibility: Available in all 50 states
- Customer service: Phone
- Soft credit check: Yes
- Loan servicer: Goldman Sachs
- Min. Income: $30,000
- Loan Uses: Credit card refinancing, debt consolidation, home improvement, major purchase, and other purposes
Pros
- No fees
- Budget-friendly payment options
- Can defer one payment interest-free after making 12 consecutive, on-time payments
Cons
- Funding can take longer than some lenders
- Must borrow at least $3,500
- Could be hard to qualify if you have poor credit
OneMain Financial
Best for: Borrowers with below-average credit
Unlike many other lenders, OneMain Financial doesn’t have a minimum required credit score — which means you might be able to qualify if you have below-average credit.
OneMain Financial will also consider your financial history, income, expenses, and loan purpose in addition to your credit history to determine your creditworthiness.
With OneMain Financial, you can borrow $1,500 to $20,000 with terms from two to five years. Keep in mind that collateral might be required for larger loan amounts.
4.1 Credible rating Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology. Rates and terms Fees and Discounts Customer Experience OneMain Financial Personal Loans
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- Fixed APR: 18.00% – 35.99% APR
- Min. credit score: None
- Loan amount: $1,500 to $20,000
- Loan terms (years): 2, 3, 4, 5
- Time to fund: As soon as the same day, but usually requires a visit to a branch office
- Fees: Origination fee
- Discounts: None
- Eligibility: Must have photo I.D. issued by U.S. federal, state or local government
- Customer service: Phone, email
- Soft credit check: Yes
- Min. Income: Does not disclose
Pros
- Fast loan funding
- No minimum credit score
- Will consider your financial history, income, expenses, and loan purpose in addition to your credit history
Cons
- Generally requires a visit to a branch location if you’re approved
- Origination fees vary by state
- Larger loan amounts might require collateral
PenFed
Best for: Small loan amounts
If you need to borrow only a small amount to cover your home repairs, PenFed could be a good option — you can borrow as little as $600 up to $35,000 with terms from one to five years.
Keep in mind that while you don’t have to be a PenFed member to apply for a loan, you’ll have to join the credit union if you are approved and want to accept the loan.
4.5 Credible rating Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology. Rates and terms Fees and Discounts Customer Experience PenFed Personal Loans
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- Fixed APR: 5.99% – 17.99% APR
- Min. credit score: 670
- Loan amount: $600 to $35,000*
- Loan terms (years): 1, 2, 3, 4, 5
- Time to fund: 2 to 4 business days after verification
- Fees: None
- Discounts: None
- Eligibility: Does not disclose
- Customer service: Phone, email
- Soft credit check: No
- Min. Income: Does not disclose
- Loan Uses: Debt consolidation, home improvement, transportation, medical, dental, life events
Pros
- Can borrow as little as $600
- Accepts cosigners
- No fees
Cons
- Doesn’t disclose minimum income requirements
- Disburses funds by mail, which can take longer (unless you pay a fee for expedited shipping)
- Could be harder to qualify with poor credit
Prosper
Best for: Borrowers without traditional income
With Prosper, you can borrow $2,000 to $40,000 with a three- or five-year term. Keep in mind that because Prosper operates a peer-to-peer lending platform, funding could take longer than other lenders if investors don’t quickly agree to fund your loan — however, if you’re approved, you might receive your money in as little as one business day.
4.5 Credible rating Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology. Rates and terms Fees and Discounts Customer Experience Prosper Personal Loans
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- Fixed APR: 6.95% – 35.99% APR
- Min. credit score: 640
- Loan amount: $2,000 to $40,000
- Loan terms (years): 3, 5
- Time to fund: As soon as one business day
- Fees: Origination fee
- Discounts: None
- Eligibility: Available in all states except IA, ND, WV
- Customer service: Phone, email
- Soft credit check: Yes
- Min. Income: None
- Loan Uses: Debt consolidation, home improvement, vehicles, small business, new baby expenses, and other purposes
Pros
- Potentially fast loan funding
- No prepayment penalty
- No minimum income requirement
Cons
- Origination fees from 2.4% to 5%
- Charges late fees
- Not available in Iowa or West Virginia
SoFi
Best for: Borrower perks
With SoFi, you can borrow $5,000 to $100,000 with terms from two to seven years. SoFi borrowers also enjoy access to several perks, such as unemployment protection, career coaching, and investing advice.
4.9 Credible rating Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology. Rates and terms Fees and Discounts Customer Experience SoFi Personal Loans
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- Fixed APR: 5.99% – 18.83% APR
- Min. credit score: Does not disclose
- Loan amount: $5,000 to $100,000
- Loan terms (years): 2, 3, 4, 5, 6, 7
- Time to fund: 3 business days
- Fees: None
- Discounts: Autopay
- Eligibility: Available in all states except MS
- Customer service: Phone, email
- Soft credit check: Yes
- Min. Income: Does not disclose
- Loan Uses: Solely for personal, family, or household uses
Pros
- Large loan amounts
- No fees
- Borrower perks (such as unemployment protection and investing advice)
Cons
- Doesn’t disclose minimum income or credit requirements
- Funding can take longer than some lenders
- Not available in Mississippi
Universal Credit
Best for: Borrowers who want to build their credit
Universal Credit borrowers have access to free credit score monitoring, educational tools, and personalized recommendations that could help you build your credit. You can borrow $1,000 to $50,000 with Universal Credit.
4.3 Credible rating Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology. Rates and terms Fees and Discounts Customer Experience Universal Credit Personal Loans
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- Fixed APR: 8.93% – 35.93% APR7
- Min. credit score: 580
- Loan amount: $1,000 to $50,000
- Loan terms: 3 to 5 years 8
- Time to fund: Within one day, once approved9
- Loan types: Debt consolidation, pay off credit cards, home improvements, unexpected expenses, home and auto repairs, weddings, and other major purchases
- Fees: Origination fee
- Discounts: Autopay
- Eligibility: A U.S. citizen or permanent resident. Not available in AR, DC, KS, ME, SC, VT, WI, WV
- Customer service: Phone, email
- Soft credit check: Yes
Pros
- Fast loan funding
- No prepayment penalty
- Free credit score monitoring, educational tools, and personalized recommendations to help you build your credit
Cons
- Rates can be higher compared to other lenders
- Origination fee from 4.25% to 8%
- Not available in Arkansas; Kansas; Maine; South Carolina; Vermont; Washington, D.C.; Wisconsin; or West Virginia
Upgrade
Best for: Fast loan funding
If you need your home repair personal loan in a hurry, Upgrade could be a good choice. You can borrow $1,000 to $50,000 with a three- or five-year term, and you could get your funds within a day of clearing necessary verifications if you’re approved.
4.3 Credible rating Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology. Rates and terms Fees and Discounts Customer Experience Upgrade Personal Loans
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- Fixed APR: 5.94% – 35.97% APR
- Min. credit score: 580
- Loan amount: $1,000 to $50,000*
- Loan terms (years): 2, 3, 5, 6
- Time to fund: Within a day of clearing necessary verifications
- Fees: Origination fee
- Discounts: Autopay
- Eligibility: Available in all states except West Virginia
- Customer service: Email
- Soft credit check: Yes
- Min. Income: Does not disclose
- Loan Uses: Debt consolidation, credit card refinancing, home improvement, and other purposes
Pros
- Fast loan funding
- Accepts poor credit scores
- Free credit monitoring and educational resources
Cons
- Origination fee from 2.9% to 8%
- Limited repayment terms (3 or 5 years)
- Not available in West Virginia
Upstart
Best for: Borrowers with poor or thin credit
In addition to your credit score, Upstart will also consider your education and job history to determine creditworthiness — which means you might still qualify even if you have poor or no credit. You can borrow $1,000 to $50,0005 with Upstart.
4.6 Credible rating Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology. Rates and terms Fees and Discounts Customer Experience Upstart Personal Loans
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- Fixed APR: 6.46% – 35.99% APR4
- Min. credit score: 580
- Loan amount: $1,000 to $50,0005
- Loan terms (years): 3 to 5 years4
- Time to fund: As soon as 1 – 3 business days6
- Fees: Origination fee
- Discounts: None
- Eligibility: Available in all states except IA and WV
- Customer service: Phone, email
- Soft credit check: Yes
- Min. Income: $12,000
- Loan Uses: Payoff credit cards, consolidate debt, take a course or bootcamp, relocate, make a large purchase, and other purposes
Pros
- Considers education and job history in addition to credit score
- Fast loan funding
- No prepayment penalty
Cons
- Origination fees from 0% to 8%
- Charges late and returned check fees
- Limited repayment terms (3 to 5 years4)
Learn More: Need a $10,000 Personal Loan? Follow This Process to Get It Fast
5 options for home repair loans
There are also other options to pay for home repairs in addition to home repair loans. Here are a few alternatives to consider as well as how they compare to personal loans for home repair:
| Loan amount | Average interest rate | Repayment terms | Time to fund | |
|---|---|---|---|---|
| Personal loans | $600 to $100,000 (with Credible partner lenders) | Fixed rates from: 2.49+% (with Credible partner lenders) | 1 to 7 years (depending on the lender) | 1 to 7 business days (depending on the lender) |
| Home equity loan | Up to 85% of the equity in your home (some lenders might have lower restrictions) | Fixed rates from APR: 5.36% | Up to 30 years (generally 5, 10, or 15 years) | Up to 2 to 4 weeks |
| HELOC | Up to 75% to 85% of your home’s value (minus what you still owe on your first or second mortgage) | Variable rates from APR: 5.36% | Up to 20 years or more (typically 10-year draw period) | Up to 2 to 4 weeks |
| Cash-out-refinance | Up to 80% of your home’s value (minus what you still owe on your mortgage) | Varies depending on credit history and lender | 15 to 30 years | Up to 2 to 4 weeks |
| Credit cards | Up to $100,000 or more (depending on the card issuer) | Variable rates from APR: 16.22% | N/A (revolving credit) | Could be immediate |
Personal loan
Best for: Borrowers with good credit who need money quickly
With a personal loan, you can typically borrow $600 to $100,000 (or more) to pay for home repairs or almost any other personal expense. Most personal loans are unsecured, which means you don’t have to worry about collateral.
You typically need good to excellent credit to qualify for a personal loan as well as to get the best interest rates. Also keep in mind that if you need to borrow more money, you’ll have to apply for another loan.
Pros
- Fast loan funding compared to other options
- Fixed interest rates
- Usually don’t require collateral
Cons
- Could be hard to qualify if you don’t have good credit
- Can have higher interest rates compared to other options
- Shorter repayment periods than other options
Home equity loan
Best for: Homeowners with at least 15% to 20% equity in their homes who don’t need funds immediately
If you’re a homeowner, you might be able to tap into your home’s equity with a home equity loan. Like a personal loan, you’ll get the money from a home equity loan as a lump sum to use how you wish.
Because this type of loan is secured by your house, interest rates on home equity loans are often lower than personal loan rates. However, this also means your home could be at risk if you can’t keep up with your payments.
Pros
- Lower fixed rates than personal loans
- Repayment terms from 15 to 30 years
- Can potentially deduct home equity loan interest from taxes if funds are used for home repairs or improvements
Cons
- Risk of foreclosure
- Longer application and funding process
- Closing costs and fees
Home equity line of credit
Best for: Homeowners with at least 15% to 25% equity in their homes who need continual access to funds
Another option to tap into your home’s equity is with a home equity line of credit (HELOC). Unlike a home equity loan, a HELOC is a type of revolving credit, which means you can repeatedly draw on and pay off your credit line — similar to a credit card. This can be useful if you’re not sure exactly how much your home repairs will be.
Keep in mind that HELOCs usually come with a five- to 10-year draw period, after which you’ll no longer be able to withdraw funds.
Additionally, because a HELOC is secured by your home, they can come with lower rates than other revolving credit lines like credit cards — but this also means you risk losing your house if you can’t make your payments.
Pros
- Allows for repeated borrowing
- Lower interest rates than other revolving credit
- Potential tax benefits
Cons
- Risk of foreclosure
- Variable interest rates that can fluctuate
- Closing costs and fees
Cash-out refinance
Best for: Homeowners with good credit who plan to stay in their house long term
With a cash-out refinance, you can pay off your existing mortgage with a larger mortgage and use the remaining funds (minus any closing costs) how you see fit.
Depending on the equity in your home, you might be able to get a much higher amount of cash this way than you would with a personal loan or credit card.
Cash-out refinances tend to have low fixed interest rates because they’re secured by your home. However, this also means you risk losing your house if you default on the loan. Also keep in mind that you can expect to pay similar closing costs and fees to what you would on a traditional mortgage.
Pros
- Low fixed interest rate
- Potentially high loan amount
- Longer repayment terms (15 to 30 years)
Cons
- Risk of foreclosure
- Could be hard to qualify if you don’t have good credit
- Comes with closing costs and fees
Credit cards
Best for: Borrowers who need to pay for a small repair or several repairs over time
If you only need to cover a small home repair or need to make several repairs over time, a credit card might be a good option. With a credit card, you’ll have access to a credit line that you can repeatedly draw on and pay off without a specific repayment period.
Some credit cards offer a 0% APR introductory period, which means you can avoid paying any interest if you can repay your balance before this period ends.
However, if you can’t pay off the card in time, you could be stuck with some hefty interest charges — and credit cards usually come with higher interest rates compared to other options.
Pros
- 0% APR introductory offer (with some cards)
- Allows for repeated borrowing
- Might offer rewards or other perks
Cons
- Can have high variable interest rates
- Can come with fees (such as annual or cash-advance fees)
- Could tempt you to rack up debt
Check Out: Personal Loan vs. Credit Card
How much will a home repair personal loan cost?
The cost of a home repair personal loan will vary depending on the interest rate you qualify for and repayment term you choose. In general, the better your credit, the lower your interest rate — and the less you’ll pay for a home repair loan overall.
Before you borrow, you can estimate how much you’ll pay for a loan using our personal loan calculator below.
Enter your loan information to calculate how much you could pay
Loan amount ? Enter the total amount borrowed $ Interest rate ? Enter your annual interest rate % or Loan term ? Enter the amount of time you have to repay your loan years Total Payment $ Total Interest $ Monthly Payment $
With a $ loan, you will pay $ monthly and a total of $ in interest over the life of your loan. You will pay a total of $ over the life of the loan.
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How to apply for a home repair personal loan
If you’re ready to apply for a home repair personal loan, follow these steps:
- Research and compare lenders. Be sure to shop around and compare as many personal loan lenders as possible to find the right loan for your situation. Consider not only interest rates but also repayment terms, any fees charged by the lender, and eligibility requirements.
- Pick the right loan for you. After you’ve compared lenders, choose the loan that will work best for you.
- Complete the application. Once you’ve picked a lender, you’ll need to fill out a full application and submit any required documentation, such as tax returns or pay stubs.
- Get your funds. If you’re approved, the lender will have you sign for the loan so the funds can be released to you. The time to fund for a personal loan is usually about one week — though some lenders will fund loans as soon as the same or next business day after approval.
Learn More: Where to Get a $20,000 Personal Loan Fast
How to qualify for a home repair personal loan
While eligibility criteria for a home repair personal loan can vary by lender, here are a few common requirements you’ll likely come across:
- Good credit: Most lenders require borrowers to have good to excellent credit — a good credit score is usually considered to be 700 or higher. There are also several lenders that offer personal loans for bad credit, but these loans typically come with higher interest rates than good credit loans.
- Verifiable income: Lenders want to see that borrowers can afford to repay the loan. Some have a minimum required income you’ll have to meet while others don’t — but in either case, you’ll likely have to provide proof of income. Keep in mind that certain lenders offer personal loans for low-income borrowers that could be easier to qualify for if you don’t make much money.
- Low debt-to-income ratio: Your debt-to-income (DTI) ratio is the amount you owe each month in debt payments compared to your income. To qualify for a personal loan, you’ll typically need a DTI ratio of 40% or less — though some lenders might require a lower ratio than this.
Tip: If you’re struggling to get approved for a personal loan, consider applying with a creditworthy cosigner to improve your chances. Not all lenders allow cosigners on personal loans, but some do.
Even if you don’t need a cosigner to qualify, having one could get you a better interest rate than you’d get on your own. Just keep in mind that because your cosigner shares responsibility for the loan, they’ll be on the hook if you can’t make your payments.
Check Out: How to Get a Personal Loan With a 600 Credit Score
Are home repair loans tax deductible?
Unfortunately, no. To deduct loan interest on a home repair loan, the loan must be secured by the taxpayer’s primary residence. Since home repair personal loans are generally unsecured, their interest isn’t tax-deductible.
Learn More: Capital Improvements: Your Guide to Tax-Deductible Renovations
Are there any government grants available for home repairs?
No, there aren’t any government grants that you can use for home repairs. However, you might qualify for one of the various federal loans or programs available for homeowners, such as:
- An HUD Title 1 Property Improvement Loan, which must be used to substantially protect or improve the basic utility or livability of a property
- The 203(k) Rehabilitation Mortgage Insurance Program, which allows homebuyers and homeowners to borrow an additional $35,000 with their mortgage for home repairs or improvements
Tip: There are also community-based programs available from local, county, and state housing departments. Be sure to reach out to the housing departments in your area to see what assistance you might qualify for.
You can find the appropriate contact information for your state at USA.gov.
Check Out: Need a $5,000 Personal Loan? Follow This Process to Get It Fast
What is the Weatherization Assistance Program (WAP)?
The federal government offers grants to low-income families via the Weatherization Assistance Program (WAP). These grants help homeowners reduce their energy bills and save money by improving the energy performance of their homes. Weatherization services can also improve the livability and safety of a home.
To be eligible for WAP, you must:
- Be a resident of the state you apply in
- Need help with energy costs
- Be at or below 200% of the poverty income guidelines (or receive Supplemental Security Income or Aid to Families with Dependent Children)
Keep in mind that states will generally give preference to households with:
- People over the age of 60
- One or members with a disability
- Children
- High energy use
Tip: There are also government programs and agencies that help low-income families pay for energy bills, including the Low Income Home Energy Assistance Program (LIHEAP) and the Federal Energy Management Agency (FEMA).
Learn More: Getting a Loan with No Credit: 4 Loans for New Borrowers
Do you need a home improvement loan instead?
A home improvement loan is another type of personal loan that can be used to pay for home improvements. Depending on the improvements you make, you might be able to increase the value of your home, such as by:
- Increasing the square footage
- Cutting your energy bill
- Remodeling for modernity
- Boosting curb appeal
If you could greatly increase the value of your home and can afford to repay a loan, then a home improvement loan might be worth it.
Keep in mind: A home repair personal loan that you take out for a needed repair is different from a home improvement loan for a project that will increase the value of your home. This is because home repairs are generally crucial to the livability and safety of your home while home improvements are usually optional.
While both types of loans could potentially be worthwhile, it’s important to consider whether you truly need to make the improvements or repairs and if the resulting loan payments will fit comfortably in your budget.
If you decide to take out a personal loan to pay for home repairs or improvements, remember to consider as many lenders as you can to find the right loan for you. Credible makes this easy: You can compare your prequalified rates from multiple lenders in two minutes — without affecting your credit.
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Keep Reading: Should You Refinance to Pay for Home Improvements?
About Rates and Terms: Rates for personal loans provided by lenders on the Credible platform range between 4.99-35.99% APR with terms from 12 to 84 months. Rates presented include lender discounts for enrolling in autopay and loyalty programs, where applicable. Actual rates may be different from the rates advertised and/or shown and will be based on the lender’s eligibility criteria, which include factors such as credit score, loan amount, loan term, credit usage and history, and vary based on loan purpose. The lowest rates available typically require excellent credit, and for some lenders, may be reserved for specific loan purposes and/or shorter loan terms. The origination fee charged by the lenders on our platform ranges from 0% to 8%. Each lender has their own qualification criteria with respect to their autopay and loyalty discounts (e.g., some lenders require the borrower to elect autopay prior to loan funding in order to qualify for the autopay discount). All rates are determined by the lender and must be agreed upon between the borrower and the borrower’s chosen lender. For a loan of $10,000 with a three year repayment period, an interest rate of 7.99%, a $350 origination fee and an APR of 11.51%, the borrower will receive $9,650 at the time of loan funding and will make 36 monthly payments of $313.32. Assuming all on-time payments, and full performance of all terms and conditions of the loan contract and any discount programs enrolled in included in the APR/interest rate throughout the life of the loan, the borrower will pay a total of $11,279.43. As of March 12, 2019, none of the lenders on our platform require a down payment nor do they charge any prepayment penalties.
About the author 
Emily Guy Birken
Emily Guy Birken is a Credible authority on personal finance. Her work has been featured by Forbes, Kiplinger’s, Huffington Post, MSN Money, and The Washington Post online.
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