Home Equity Loan vs. Personal Loan for Home Improvement | Earnest – A home improvement personal loan, on the other hand, is an unsecured loan, so the lender takes on additional risk. As such, personal loan rates tend to be higher than those for home equity loans- Earnest offers home improvement personal loans starting at 5.25%.
Should I Use a Home Equity Loan for Remodeling? – Case – Investing home equity money into a high-value home improvement helps increase your home’s equity. You can use the added equity to borrow more money against the home. If you continue to make improvements in the home, you can create a positive cycle of increasing your home’s equity and it’s value, a process that goes hand in hand.