Home Improvement Loan Calculator
Compare home equity loan, HELOC, personal loan and cash-out refinance for renovations.
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Frequently Asked Questions
What home improvements add the most value?
Highest ROI renovations (national averages): garage door replacement 194% ROI, manufactured stone veneer 153%, minor kitchen remodel 96%, siding replacement 89%, window replacement 69%. Lower ROI but high enjoyment: major kitchen remodel 38%, bathroom addition 35%, primary suite addition 36%. Location matters enormously — the same project can have very different ROI depending on the local market.
Home equity loan vs HELOC vs personal loan?
Home equity loan: fixed rate, lump sum, best for large one-time projects, secured by your home. HELOC: variable rate, revolving credit line, best for ongoing projects or unknown costs. Personal loan: no collateral, higher rate, faster approval, best for smaller projects or renters. Cash-out refinance: replaces your mortgage, best if rates are lower than your current mortgage.
Do I need a permit for home renovations?
Permits are generally required for: structural changes, electrical work beyond simple fixture replacement, plumbing changes, HVAC work, additions, decks over certain heights, and window/door structural changes. Unpermitted work can: cause problems when selling (lenders and buyers require disclosure), void homeowners insurance for those areas, and create safety hazards. Always check local requirements before starting.