There are two main types of home improvement loans available:
- Secured home improvement loans: Secured home improvement loans are backed by your home equity. This means that if you default on your loan, the lender can foreclose on your home. Secured home improvement loans typically offer lower interest rates than unsecured home improvement loans.
- Unsecured home improvement loans: Unsecured home improvement loans are not backed by your home equity. This means that if you default on your loan, the lender cannot foreclose on your home. Unsecured home improvement loans typically offer higher interest rates than secured home improvement loans.
How do I apply for a home improvement loan?
To apply for a home improvement loan, you will need to provide the lender with the following information:
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