Love your home even more
Create your dream home with a PenFed Personal Loan.
Lock in a fixed rate as low as % APR* with autopay
Loans up to $50,000 and terms up to 60 months
Won’t affect your credit score¹
What is a Home Improvement Loan?
This is a personal loan that can provide the fast cash you need for tackling just about anything under your roof — including the roof itself!
No collateral required — apply easily online
No need to touch your home equity for this unsecured loan
Unlock financial freedom with rates starting at ![]( "Personal Loan T1 Rate Range Low")
% APR* with autopay
Flexible terms up to 5 years on loan amounts up to $50,000
No fees or penalties
No origination fee
No early payoff fee
No additional fees** (no home appraisal, no closing fee, no title search, etc.)
Won’t affect your credit score1
Ways to use a Home Improvement Loan
Homeownership is not just about purchasing a residence. It’s also about making it into your home. Use your money for all of your dream projects — everything and the kitchen sink.
No collateral required — apply easily online
No need to touch your home equity for this unsecured loan
Unlock financial freedom with rates starting at ![]( "Personal Loan T1 Rate Range Low")
% APR* with autopay
Flexible terms up to 5 years on loan amounts up to $50,000
No fees or penalties
No origination fee
No early payoff fee
No additional fees**(no home appraisal, no closing fee, no title search, etc.)
Won’t affect your credit score¹
Ways to use a Home Improvement Loan
Homeownership is not just about purchasing a residence. It’s also about making it into your home. Use your money for all of your dream projects — everything and the kitchen sink.
Home Upgrades
New roof
Tank-less water heater
Whole house generator
Major landscaping
Refresh Your Space
Kitchen & bath remodel
Deck addition
Hardwood floors
Security door upgrade
Fix it Fast
Garage door replacement
Flood damage repair
HVAC & furnace repair
Window replacement
Ways to use a Home Improvement Loan
Homeownership is not just about purchasing a residence. It’s also about making it into your home. Use your money for all of your dream projects — everything and the kitchen sink.
Home Upgrades
New roof
Tank-less water heater
Whole house generator
Major landscaping
Refresh Your Space
Kitchen & bath remodel
Deck addition
Hardwood floors
Security door upgrade
Fix it Fast
Garage door replacement
Flood damage repair
HVAC & furnace repair
Window replacement
Enjoy an easy loan process
1. Check your rate
Get pre-qualified in just a few minutes with no impact to your credit score1.
2. Choose your offer
Select flexible loan terms that work for you.
3. Finalize your loan
E-sign your loan documents.
4. Get funded
Receive your money as soon as the next day, and get started on your project right away.
Won’t affect your credit score1
Enjoy as easy loan process
1. Check your rate
Get pre-qualified in just a few minutes with no impact to your credit score¹.
2. Choose your offer
Select flexible loan terms that work for you.
3. Finalize your loan
E-sign your loan documents.
4. Get funded
Receive your money as soon as the next day, and get started on your project right away.
Won’t affect your credit score¹
FAQs
The rate for a home improvement personal loan is fixed, and credit card interest rates are variable, so using the loan usually results in less interest to pay. An exception might be if you have a card with an introductory interest rate that is lower than the home improvement loan rate. In that case, using your credit card might be better.
Additionally, credit card payments can vary from month to month, making it hard to save money and pay off your debt. Home improvement loans have fixed monthly payments, which means no surprises on how much you owe each month. In either case, remember that you can always pay off the debt early without penalty to save even more.
When you click “Check Your Rate,” PenFed does a soft credit pull to check the financing you’re eligible for — that does not affect your credit score. Once you accept an offer and rate, we will perform a hard credit pull to verify your information. When we perform a hard credit inquiry, your credit score may lower slightly for a short period of time.
Yes! You can use it to pay off existing home improvement installment loans or to pay off invoices that have accrued on past and current projects. If your aim is strictly to pay off debt, however, you may want to use a PenFed Debt Consolidation Loan.
A HELOC is a secured loan that requires collateral — the equity in your home. The process usually requires a home appraisal, which incurs a fee, and often requires fees for a title search as well as closing costs. Additionally, obtaining a HELOC will mean that the equity in your home is reduced by the amount of the line of credit.
The process of getting a PenFed Home Improvement loan is a lot simpler, and your home’s equity is not touched. You can apply online without providing information about your home, and there are no fees involved.
Learn more about home improvement loans
Disclosures
Rates and offers current as of and are subject to change.
1The initial inquiry will be a soft pull that will not affect your credit score. If you choose to initiate a loan application after checking your rates, you will be required to authorize a full credit report inquiry, which would be considered a hard pull and may affect your credit.
*AutoPay discount of .25% is only available prior to loan funding. Rates without AutoPay are 0.25% points higher. Excellent credit required for lowest rate.
Your actual APR will be determined at the time of disbursement and will be based on your loan term and creditworthiness, which includes an evaluation of your credit history and the length of your PenFed membership. Not all applicants will qualify for the lowest rate. Rates quoted assume excellent borrower credit history. Other eligibility requirements may apply.
Loan Payment Example: A $ personal loan financed at
% APR would amount to 24 monthly payments of approximately $
each. Rate is quoted with a .25% AutoPay discount. Autopay discount is only available prior to loan funding. Rates without autopay are 0.25% points higher.
Loan amount determines rate and term. All loans are subject to a minimum monthly payment of $50.
**There is no balance transfer fee, no early payoff fee, and no origination fee. There are no “hidden” fees such as home appraisal, closing, or title search fees that you might incur in other borrowing situations. If you do not make your monthly installment payment on time, you may incur late payment fees.