HELOC_icons
Home Improvement

Borrow for Home Improvements

HELOC_icons
Home Improvement

Borrow for Home Improvements

borrowforhomeimprovement

Flexible Loan Options to Fund Your Home Improvements

Investing in home improvements can enhance your comfort, increase your property value, and make your space more functional. Whether you're looking to remodel your kitchen, upgrade your HVAC system, or add a new deck, financing options can help make your vision a reality.

At COMTRUST, we offer a variety of loan solutions tailored to fit your specific needs. The right financing option for you depends on the scope of your project, Equity in your home, and your financial situation.

Which Home Improvement Loan is Right for You?

Selecting the best loan depends on factors like the size of your renovation, whether you have equity in your home, and how you prefer to repay. Here’s how to choose:

Home Equity Line of Credit (HELOC)

Ideal for:

✔ Homeowners with equity in their home
✔ Major renovations that require flexibility in funding
✔ Projects that span over months or years

A HELOC allows you to tap into your home’s equity and borrow only what you need when you need it. It works like a credit line, meaning you can withdraw funds over time instead of taking a lump sum. You’ll only make payments on the amount you borrow, making it ideal for large-scale projects such as:

  • Kitchen or bathroom remodels
  • Room additions
  • Roof replacements
  • Energy-efficient upgrades (solar panels, HVAC systems, insulation)

Learn more about HELOC

Personal Loan

Ideal for:

✔ Homeowners with little or no equity
✔ Small projects or emergency home repairs
✔ Quick access to funds

A Personal Loan is a great solution for minor home improvements, one-time fixes, or urgent repairs when you need cash fast. Unlike HELOCs or home equity line of credit, there’s no need to use your home as collateral. These loans are typically approved quickly, allowing you to take care of your home without delay.

Great for projects like:

  • Fixing plumbing issues or electrical repairs
  • Installing new appliances
  • Painting and minor cosmetic upgrades
  • Furnishing a newly renovated space
More about Personal Loans

How to Choose the Best Loan for Your Home Improvement Needs

When selecting a financing option, consider:

Loan Amount Needed: HELOCs work best for large or ongoing projects, while personal loans suit short term projects.
Equity in Your Home: If you have equity, a HELOC may offer the best interest rate.
Repayment Terms: Fixed-rate loans provide predictable payments, while HELOCs offer flexible borrowing.
Project Timeline: Ongoing projects benefit from HELOCs, while personal loans are better suited for one time fixes or personal repairs.