Finance renovations, repairs, and upgrades with a fixed-rate loan designed for projects large or small.
- Borrow $15,000–$50,000
- 5–10 year repayment terms
- Not secured by your home
- Does not affect your home's equity
- Competitive fixed rates and predictable monthly payments
- No application fee
- Residential properties only: primary residence, second home & vacation home only
- Contractor quote or invoice required
- A simple way to fund improvements & renovations
Having your kitchen redone, adding a deck, installing new roofing, or going solar? This solution was designed for you. Loan proceeds are funded upfront and repaid in fixed monthly installments over a term that you choose.
How to get started
- Decide on the improvements you would like to make.
- Obtain a contractor estimate, quote, or invoice.
- Complete and submit your loan application and any necessary supporting documents.
- Your loan can be approved and disbursed as quickly as the same day depending on the scenario so that you can get your project started as soon as possible.
What is a home improvement loan?
A fixed-rate loan used to finance renovations, repairs, upgrades, or other qualifying home improvements.
How does it work?
After approval, you receive the loan proceeds and repay them in fixed monthly payments over a set term.
How is it different from a home equity loan?
This home improvement loan is not secured by any mortgage or other lien on your property, and that means there is no impact to your home's equity. In contrast, home equity loans and home equity lines of credit collateralize your home’s equity with a mortgage.
Important eligibility information
- All individuals listed on the property title must be applicants on the home improvement loan.
- Properties held in trusts, life estates, or similar ownership structures are not eligible.
- Worcester Credit Union membership required.
Loan approval, rates, and terms are based on creditworthiness and other qualifying factors. Additional terms and conditions may apply. Contact us for complete details.
