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Home Improvement Lending Center

Ready. Set. Improve.

Whether your project is large or small, we can help you find the financing option right for you

Your home is an important part of your life. Our home improvement financing options can help you change your home now and pay for it over time. Whether necessary or optional, a small weekend project, or a large renovation, we can help you finance your vision.

Myth

If I have limited home equity, I won't be able to finance a home improvement project.

Truth

Personal credit options may be available for qualified borrowers with limited or no home equity.
       

View financing options

Consider all your options so you can make an informed decision. The following questions can help get you started:

  • How much do you expect to borrow for this project and how long do you estimate it will take to complete?
  • What type of repayment options fit your budget and how long do you plan to take to pay off what you borrow?
  • Does one-time access to funds or ongoing access to credit better fit your home improvement needs?
  • Do you plan on hiring a contractor to renovate your home or will you complete the project yourself?

Your home improvement ideas are as unique as you are and our range of financing options can help you realize those ideas in the way that makes the most sense for you. Narrow down your options using the information below and remember our financing representatives are available to answer any questions. Be sure to consider the costs associated with each option, including interest rate, when choosing a product.


Loan type 
Typical amount Ongoing access to funds Key features and benefits
Cash-Out Refinance
Varies
No
  • Replaces existing mortgage with a new one with a higher loan amount
  • Provides additional funds for other purposes
Home Equity Line of Credit
$25,000 +
Yes
  • Flexibility to change between a fixed-rate advance and variable rate
  • Interest may be tax deductible if the home equity financing is used to improve, buy, or build a home. Consult your tax advisor about deductibility of interest.

There may be additional personal credit options available to you through Wells Fargo for home improvements. Speak to your home mortgage consultant for details.

Making improvements to your home can be exciting and rewarding. Proper planning helps you prioritize your efforts to create a home that fits your wants and needs. Remember that not all home improvement projects increase the overall value of your home, so be sure to carefully consider your reasons before moving forward.

How do I define the goals of my home improvement project?

To help define your project:

  • Create a list of things you would like to accomplish.
  • Prioritize your list in the order of most important to least important.

Remember, your budget might not allow you to complete everything on your list so it's important to determine your priorities.

How do I create a budget?

To create a basic budget for your project:

  • Calculate how much you can contribute to the project.
  • Determine how much you may need to borrow.

If you obtain financing for your home improvement, it is an additional expense beyond your current monthly mortgage. Be sure you can comfortably manage the payment.

How do I select a contractor?

When selecting a contractor:

  • Keep in mind that the contractor with the lowest price may not always be the right person for the job. Balance long-term quality against cost.
  • Select a contractor who has proven expertise in your type of project and the appropriate licenses and insurance. Always check references and the Better Business Bureau.

How do I decide if my home improvement is worth it?

Only you can decide if your home improvement or repair is worth it to you. Some homeowners place a higher personal value on enjoying their living space while they occupy the home; for some, it is important to recover a greater percentage of renovation costs when they sell the home. Remember, a number of factors may determine whether you recover some or all of your expenses.
 
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If you are a service member on active duty, prior to seeking a refinance of your existing mortgage loan, please consult with your legal advisor regarding the relief you may be eligible for under the Servicemembers Civil Relief Act or applicable state law.