Home Improvement Loans to Transform Your Florida Home Today

Our Home Improvement Loans are designed to empower you to transform your living space into the home of your dreams. Whether you're planning to renovate your kitchen, add an extra bedroom, or install a new lanai & pool, our flexible loan options provide the financial support you need. With competitive interest rates, quick approval process, and personalized service, we are committed to helping you unlock the potential of your home.

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LIBERTY PERSONAL LOANS POWERED BY UPSTART. TRUSTPILOT 4.9 OUT OF 5 ★ EXCELLENT.

 

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Why Are Florida Home Owners Taking
Out Home Improvement Loans?

 

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Home Renovations and Upgrades

Many homeowners opt for home improvement loans to fund renovations or upgrades to their property. This can include kitchen or bathroom remodeling, adding extra rooms, improving energy efficiency, or enhancing the overall aesthetics of the home. Florida is susceptible to severe weather events, like hurricanes, so Florida residents may reinforce their homes by installing impact-resistant windows, reinforcing doors, and strengthening roofs.

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Increase Home Value

Homeowners often seek to increase the value of their property through home improvement projects. By investing in upgrades such as landscaping, exterior improvements, or structural enhancements, they aim to boost their home's market value and potential resale value.

 

 

 

 

 

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Maintenance and Repairs

Florida residents may consider taking out a personal loan for home repairs such as roof repairs, air conditioning fixes, plumbing issues, electrical repairs, hurricane or storm damage restoration, foundation repairs, or remodeling projects. Personal loans can provide the necessary funds to cover these expenses.

 

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Energy Efficiency Enhancements

Florida residents can also use personal loans for energy efficiency upgrades in their homes. These upgrades may include installing solar panels, upgrading to energy-efficient appliances, improving insulation, replacing windows or doors with energy-efficient models, or installing smart home technology for energy management. Personal loans can help cover the upfront costs of these energy-efficient improvements, allowing homeowners to save on energy bills in the long run and reduce their environmental impact.

Why Use Liberty For Your Home Improvement Loan

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Flexible Loan Amounts

You can get a personal loan from $5,000 to $50,0002.



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Fixed Rates
and Terms 

Choose between personal loans in 3-year, 5-year & 7 year terms, with fixed rates of 4.6% - 19% APR.3

Mortgage

No Prepayment
Fees

You can prepay your loan at any time with no fee or penalty.



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Great
Service

Liberty has deep experience and is dedicated to helping you with your unique needs.

 

CHECK YOUR RATE

   Won't affect your credit score1

LIBERTY PERSONAL LOANS POWERED BY UPSTART. TRUSTPILOT 4.9 OUT OF 5 ★ EXCELLENT.

 

"Amazing customer service! Every time I go to Liberty Savings Bank I am reminded why I love a small bank, where your recognized and greeted by name with a smile. The staff is always helpful and takes the time to explain the best options for my banking decisions."

VINCE, SARASOTA FL - ★★★★★ GOOGLE REVIEW

Home Improvement Loan FAQs

A home improvement personal loan is a type of loan specifically designed to fund your home improvement projects. It's like having a friendly financial boost to bring your renovation dreams to life. With this loan, you can borrow a certain amount of money that you can use for various home improvement purposes, such as remodeling your kitchen, renovating your bathroom, or adding an extra room to your house.

What makes it a personal loan is that it is typically an unsecured loan, which means you don't have to provide any collateral (like your home or property) as security. It's a loan based on your creditworthiness and ability to repay. You'll have a set repayment term during which you'll make regular payments to gradually pay off the loan.

The best part is that you have the freedom to use the funds as you see fit for your home improvement needs. So, whether you're sprucing up your living space or making essential repairs, a home improvement personal loan can be a reliable and convenient way to finance your projects without putting a strain on your savings.

A home improvement personal loan is specifically tailored for funding your home improvement projects. It's different from other types of loans because it doesn't require any collateral. That means you don't have to put your home or any other property at risk to secure the loan. Instead, it's based on your creditworthiness and ability to repay.

Unlike a home equity loan or home equity line of credit (HELOC), which use your home's equity as collateral, a home improvement personal loan allows you to borrow a set amount of money without tapping into your home's value. It offers flexibility in terms of how you use the funds and isn't tied to the equity you have built up in your home.

Additionally, the interest rates for a home improvement personal loan may be slightly higher compared to home equity loans or HELOCs since there's no collateral involved. However, personal loans often have fixed interest rates, providing stability and predictability for your monthly payments.

The great thing about this type of loan is that you have the freedom to use it for a wide range of home improvement purposes.

You can use a home improvement personal loan to tackle various projects, such as:

  1. Remodeling: Whether it's a complete kitchen renovation, a bathroom makeover, or giving your living room a fresh look, a home improvement personal loan can fund the remodeling project you've been dreaming of.

  2. Repairs and Maintenance: Is your roof in need of repair? Do you have plumbing issues or electrical upgrades to address? A personal loan can provide the funds to take care of essential repairs and maintenance tasks around your home.

  3. Room Additions: If you're expanding your family or simply want some extra space, a home improvement personal loan can help you add a new room, such as a bedroom, a home office, or a playroom.

  4. Energy Efficiency Improvements: Investing in energy-efficient upgrades not only reduces your carbon footprint but can also save you money on utility bills. With a personal loan, you can install solar panels, upgrade to energy-efficient appliances, improve insulation, or replace windows and doors.

  5. Landscaping and Outdoor Enhancements: Enhancing your outdoor living space can add value and beauty to your home. Use a personal loan to create a stunning garden, build a deck or patio, or install a swimming pool.

These are just a few examples, but the possibilities are vast. The key is to use the loan for legitimate home improvement purposes that enhance the value, aesthetics, functionality, or energy efficiency of your property.

When it comes to borrowing with a home improvement personal loan, the amount you can borrow depends on various factors, including your creditworthiness, income, and lender policies. Typically, home improvement personal loans offer a borrowing range from a few thousand dollars up to a higher limit, such as $50,000 or more.

The specific loan amount you can access will be determined during the loan application process. We assess your financial situation, including your credit score, income, and existing debts, to determine the loan amount.

It's important to note that while you may be approved for a certain loan amount, it doesn't mean you have to borrow the maximum available. It's recommended to carefully consider your home improvement needs and budget before determining the loan amount you wish to borrow. Borrowing only what you need and can comfortably repay is a prudent approach.

Additionally, be mindful of your ability to make the monthly loan payments within your existing budget.

The interest rate on a home improvement personal loan is influenced by several key factors. The primary factors include:

  1. Credit Score: Your credit score plays a significant role in determining the interest rate. A higher credit score generally indicates lower risk to the lender, making you eligible for more favorable interest rates. Lenders typically offer better rates to borrowers with excellent or good credit scores.

  2. Financial History: Lenders consider your financial history, including your income, employment stability, and existing debts. A stable income and a low debt-to-income ratio can positively impact your interest rate, as it demonstrates your ability to manage your finances responsibly.

  3. Loan Amount and Term: The loan amount you are seeking and the repayment term can also affect the interest rate. Generally, larger loan amounts or longer repayment terms may result in higher interest rates. 

  4. Market Conditions: The prevailing economic conditions and interest rate environment can influence the interest rates offered by lenders. Interest rates can fluctuate based on factors such as the overall state of the economy, inflation rates, and monetary policy decisions.

It's important to note that interest rates can be fixed or variable. Fixed rates remain the same throughout the loan term, providing stability and predictability for your monthly payments. Variable rates, on the other hand, may change over time based on market conditions.

Generally, repayment terms for home improvement personal loans range from 1 year to 7 years, although some lenders may offer longer terms.

The repayment term you qualify for is influenced by factors such as the loan amount, your creditworthiness, and the lender's policies. Smaller loan amounts may have shorter repayment terms, while larger loan amounts could allow for longer repayment periods.

It's important to note that the repayment term you choose affects your monthly payment amount. A shorter repayment term typically results in higher monthly payments but can help you pay off the loan faster and potentially save on interest charges. On the other hand, a longer repayment term may offer lower monthly payments but could result in higher overall interest costs over the life of the loan.

When considering the repayment term, it's crucial to assess your financial situation and choose a term that aligns with your budget and financial goals. You should aim to find a balance between a term that allows you to comfortably manage the monthly payments while minimizing the total interest paid.

No, you typically do not need collateral to secure a home improvement personal loan. Unlike other types of loans such as home equity loans or HELOCs that use your home or property as collateral, a home improvement personal loan is an unsecured loan.

An unsecured loan means that you do not have to pledge any specific asset, such as your home or car, as collateral to secure the loan. Instead, the approval and terms of the loan are primarily based on your creditworthiness, income, and ability to repay.

The absence of collateral in a home improvement personal loan simplifies the application process and eliminates the risk of losing your property if you're unable to repay the loan. It offers you the flexibility to access funds for your home improvement projects without putting your home or other assets on the line.

However, it's important to note that unsecured loans may have slightly higher interest rates compared to secured loans. The convenience and peace of mind of not having to provide collateral make home improvement personal loans an attractive option for many borrowers.

When applying for a home improvement personal loan, you'll need to provide documents and information to support your application.

Here are documents and information you will need:

  1. Identification: You will typically need to provide a valid form of identification, such as a driver's license, passport, or government-issued ID.

  2. Proof of Income:  This can include recent pay stubs, W-2 forms, or income tax returns. If you're self-employed, you may need to provide additional documents, such as profit and loss statements or bank statements.

  3. Employment Details: This helps verify your employment status and stability.

  4. Financial Statements: Some lenders may request financial statements, such as bank statements or investment account statements, to evaluate your overall financial health.

  5. Credit History: We may request your permission to access your credit report or ask you to provide a recent copy of your credit report.

  6. Loan Purpose and Documentation: You may need to provide details about the purpose of the loan, such as the specific home improvement project you plan to undertake. 

  7. Personal Information: You'll need to provide personal details such as your contact information, social security number, date of birth, and sometimes your marital status.

The time it takes to get approved for a home improvement personal loan can vary depending on several factors, including the completeness of your application, and your individual circumstances. While specific timelines may differ, here's a general overview of the approval process:

  1. Application Submission: The first step is to complete the loan application. This can typically be done online or in person. The time it takes to fill out the application will depend on the complexity of the form and the information required.

  2. Document Submission: After submitting your application, you will be required to provide supporting documents, such as identification, proof of income, and other requested information. The time it takes to gather and submit these documents can vary based on your preparedness.

  3. Credit Check and Verification: We will conduct a credit check to assess your creditworthiness and evaluate your ability to repay the loan. We will also verify the information provided in your application and documents. This verification process can take some time, especially if additional information or documentation is required.

  4. Underwriting and Decision: Once we've received and reviewed your application and supporting documents, we will assess your eligibility for the loan. The underwriting process involves evaluating your credit history, income, and other factors. 

  5. Approval and Loan Offer: After completing the underwriting process, we will make a decision regarding your loan application. If approved, we will provide you with the loan offer, including the loan amount, interest rate, repayment terms, and any applicable fees.

Securing a home improvement personal loan with bad credit can be challenging. However, it's not impossible to obtain a loan with bad credit.

Here are a few options to explore:

  1. Secured Loans: If you have significant equity in your home or valuable assets, such as a car or savings account, you may consider applying for a secured loan. By using collateral, you provide the lender with added security, which can improve your chances of approval, even with bad credit. However, it's crucial to understand that defaulting on a secured loan puts your collateral at risk.

  2. Co-Signer or Joint Applicant: Having a co-signer or joint applicant with a good credit history can enhance your chances of getting approved for a home improvement personal loan. The co-signer or joint applicant agrees to take responsibility for the loan if you are unable to make payments. 

  3. Improve Credit Score: While it may take time, working on improving your credit score can expand your loan options. Focus on paying bills on time, reducing existing debt, and addressing any errors on your credit report. Over time, as your credit score improves, you can become eligible for loans with better terms and interest rates.

It's important to note that obtaining a loan with bad credit may come with higher interest rates, stricter terms, or smaller loan amounts. Consider your financial situation, budget, and ability to repay the loan before committing to any borrowing option.

 

1. When you check your rate, we check your credit report. This INITIAL (SOFT) INQUIRY will not affect your credit score. If you accept your rate and proceed with your application, we do another (HARD) CREDIT INQUIRY that will impact your credit score. If you take out a loan, repayment information may be reported to the credit bureaus.

2. Your loan amount will be determined based on your credit, income, and certain other information provided in your loan application. Not all applicants will qualify for the full amount. Minimum loan amounts vary by state.

3. The full range of available rates varies by state.  A representative example of payment terms for a Personal Loan is as follows:  a borrower receives a loan of $10,000 for a term of 60 months, with an interest rate of 13.89%, no origination fee, for an APR of 13.89%.  In this example, the borrower will receive $10,000 and will make 60 monthly payments of $233.  APR is calculated based on 5-year rates offered in August, 2023.  There is no downpayment and no prepayment penalty.  Your APR will be determined based on your credit, income, and certain other information provided in your loan application.  Not all applicants will be approved.

All loans are originated by Liberty Savings Bank which is part of the Upstart marketplace.

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