Finance your home improvement project with an unsecured (no collateral required) personal loan that features a fixed-interest rate for $5,000 - $25,000.
The Rapid Home Improvement Loan from Midland States Bank is a way you can borrow money to make your home renovation or remodel plans come to life. Home improvement needs sometimes sneak up on you. Renovations can be very expensive, rack up tens of thousands of dollars, and many homeowners just don't have the funds saved for home repairs. The Rapid Home Improvement Loan can help.
Our speedy home improvement loan process means you can have funds in no time.
Never be surprised, consistent payments make budgeting easy.
Our unsecured loan means you do not need to provide collateral with personal property.
There's Always Room for ImprovementRemodel, renovate, or repair your home. Is your home starting to look a little outdated? Update your kitchen, paint your living room, or install new flooring.
Finish projects you've been putting off. Major projects such as foundation issues or roof issues need to be addressed as soon as possible. Don't keep putting them off; get them done today.
Upgrade your home with additions. Put in a swimming pool or an outdoor living space. Improve your energy efficiency with new windows or solar panels.
Improve your property value. Curb appeal, such as a new roof, additional landscaping, a porch revamp, or siding replacement, can drastically improve your property value and the equity you hold within your home.
What does it take to get a Rapid Home Improvement Loan? Less than you might think. A home improvement loan is often easier to get than a home equity loan. You can get an unsecured loan up to $25,000, loan terms up to 15 years, and there are many eligible property types. The time to get that new HVAC system, water heater, or roof is now. You want to enjoy your home — and we can help.
Budget-friendly, fixed payments mean no surprises. See sample monthly payments and find the right loan for your project.
| Monthly Payment | Loan Amount | Interest Rate | APR | Term |
|---|---|---|---|---|
| $103.16 | $5,000 | 7.49% | 8.74% | 5 Years |
| $120.42 | $10,000 | 7.49% | 7.83% | 10 Years |
| $149.08 | $15,000 | 8.49% | 8.66% | 15 Years |
| $198.28 | $20,000 | 8.49% | 8.61% | 15 Years |
| $247.48 | $25,000 | 8.49% | 8.59% | 15 Years |
APR = Annual Percentage Rate. Rates are valid as of 11/27/23 and assume the borrower has a credit score of 740 or higher. Rates are subject to change without notice. APR reflects the effective cost of your loan on an annual basis, considering such items as interest and loan fees. All payment amounts are estimates and are for example only.
Affordable Home Improvement Loan ProgramThe Believable Banking Home Improvement Loan (BBHIL) is an affordable, unsecured loan program available in select neighborhoods determined by the Census Bureau. The BBHIL provides flexible and affordable financing to assist with maintaining your home and can be used for a wide array of home repairs or renovations.
When you are considering making renovations to your home but don't have the cash upfront to pay for the projects, various options can make it possible for you. A home improvement loan allows homeowners to borrow money for their renovation plans when they don't have the savings to pay out of pocket. Get more information on how home improvement loans work.
There are several things to consider before you decide to take on a home improvement project, the most important being if you can afford it. If the answer is yes, then you should look at the payment methods that work best for your budget and circumstance. Other factors you should consider before renovating are the length of time you intend to stay in your home, whether it increases your home’s value, and how you plan for your project to be completed. Learn more about factors that can help you answer the question, "Should I get a home improvement loan?"
A home improvement loan can be used for renovations and repairs to your property. That includes supplies for repairs and renovations that you do yourself, as well as payments to professionals such as plumbers, electricians, and contractors.
A home improvement loan is a personal, unsecured loan that does not change the amount of equity you have in your property. A personal loan for home improvement can be acquired regardless of how much equity you have in your house, which a home equity loan or HELOC relies upon.
How much you can borrow to finance home improvement generally depends on your own credit score and creditworthiness. Look at your own debt-to-income ratio to determine how much more you should reasonably be able to spend. Midland States Bank can offer home improvement loans up to $25,000.
Loan terms for a home improvement loan can be up to 15 years. This is why getting a home improvement loan may be better for you than using a personal loan or your credit card.
To finance home improvement, you should have a good credit score and low debt-to-income ratio. You will need to provide information about your credit and your financial situation, including your income. You will also need to have your home information — it will have to be a home under your own name. To complete the loan process, we may require project estimates or receipts.
If Pinterest ideas have taken over your home, wait no longer. Our quick and simple home improvement loan process can have you ready to start right away. We're here to help online or in-person. Complete the form below and a Midland States Bank representative will be in touch or schedule an appointment to visit us in-person.
Your loan terms, including APR, may differ based on loan purpose, amount, term length, and your credit profile. Subject to credit approval. Conditions and limitations apply. Advertised rates and terms are subject to change without notice.
¹Loan fee of $150. Payment examples: Tier 1 loan category ranges up to $10,000 and 120 months: Monthly payments for a $10,000 loan at 7.49% APR with a term of ten years would result in 120 monthly payments of $120.42. Tier 2 loan category ranges from $10,000.01 to $25,000 and up to 180 months: Monthly payments for a $25,000 loan at 8.49% APR with a term of fifteen years would result in 180 monthly payments of $247.48. These examples are estimates only and assumes all payments are made on time. Please contact bank for details. .
