How to Finance a Kitchen Remodel Using Unsecured Personal Loans
Today we are going to identify how to finance a kitchen remodel using unsecured personal loans.
Benefits of Financing With Unsecured Personal Loans vs an Equity Loan
Secured vs Unsecured
Home Equity loans actually are secured by your home. I would never risk losing your home to a bank due to borrowing for home improvements.
A personal loan is unsecured which means it does not use any of your collateral or assets.
Online Personal Loan Application Process
With a Equity Loan or Line of Credit you will have to go into your bank and fill out the required paperwork. This can take time and will require lots of paperwork.
A unsecured personal loan is fast and the process can be done completely online. You can obtain up to $40,000 with the right lenders.
Where Can I Get Online Unsecured Personal Loans to Finance a Kitchen Remodel?
There are some really great options for online personal loan platforms where you can apply. The process is completely online and only takes a few minutes. Once your loan is funded it is direct deposited into the account you provided. This way you can get started right away on your kitchen remodel.
Peer to Peer Lending
You can try peer to peer lending. All you do is fill out one simple application and you will get a rate quote. Once you review and accept, your loan is funded by individual investors on the platform. The largest of peer to peer lending companies and most well know is Lending Club.
To apply now just go to LendingClub.com
Using a lending network is another great way to obtain an unsecured personal loan. You will fill out a simple form and the lending network matches you to the best lender for your situation. Once contacted you will approved the rate and terms of the loan. Once approved it will be direct deposited to your account. This process is also completely done online.
We recommend PersonalLoans.com
What if I Have a Lower Credit Score?
If you have a lower credit score and need financing for a kitchen remodel you can visit PersonalLoansDepot.com. They have a simple and easy application process.
What is The Amount of Loan I Can Take Out?
If you have good credit and go through Lending Club you can get a personal loan up to $40,000.
A lending network has multiple lenders and can provide loans up to $35,000.
This will depend on your credit history and credit score. Your employment and salary will of course be taken into consideration when applying for a personal loan.
These are all great options for obtaining an unsecured personal loan completely online. No hassles with a simple process and you do not have to worry about using your home as collateral.
We hope the article helped inform you on how to finance a kitchen remodel with an unsecured personal loan and why it is really the best option.