We're Here to Help (315) 735-8571

What is a Home Improvement Loan?

March 10, 2017

Live Smarter with the right financing

When is a Home Improvement Loan the Right Choice?
This loan program was created for those newer homeowners who have not yet built equity to use as collateral for a home equity loan, yet still want or need to do home improvements. It is also for those homeowners who are looking for shorter term loans with an immediate timeline for funding.

Home improvement loan proceeds are typically used for home repairs and renovations, such as a furnace, hot water heater, roofing or siding project, or kitchen or bathroom remodels. You decide!

Home Improvement Loan Options and Terms
Home improvement loans are funded within days of applying. Rates are fixed, and can be amortized from 1 to 10 years. If you’re approved, we can help you find a solution that fits your needs.

What About a Home Equity Loan?
A home equity loan is simply based on the value of your home less any outstanding mortgage balances. If there is equity, the home would be collateral, giving you more attractive terms, such as a lower interest rate, and longer repayment options up to 20 years. It does take time to fund a home equity loan, as an appraisal and other required tasks are necessary.

There are two types:

A Home Equity loan offers a one-time distribution of funds. Repayment of principle and interest begins immediately, over a period of time selected by you. We offer a variety of terms to fit different needs.

A Home Equity Line Of Credit (HELOC) is a revolving line of credit with a maximum loan amount determined by the equity of your home. These funds can be available over a period of time. You can use them as you need. Interest-only monthly payments are required during the draw period. Additional principle payments are also accepted any time you wish to pay the line down.

The application process is simple. We’ll review your credit when you apply, find where you can save, and review all your options. Let us handle the financing while you shop for your home project.

Contact us to set up an appointment today, and get started on your way to a better home!

Get started





​charity “best “debt “savings 50/30/20 529 about account account” adults advice Amanda L. King Memorial Fund American Cancer Society American Heart Association American Red Cross Amy DeMetri animals atv financing atv loan Auto auto loan back bad credit bank Banzai Berowski Better U Program bike Blog Blog Posts Blogs Blue boat loans borrow Branch breach budget Budgeting business camper cancer Capitol Civic Center Car car loan Car Loans Card Cell Phones For Soldiers Challenge charity Check checking checks children Children’s Miracle Network Hospitals Children's Museum Choice Investments Christmas Chuck club College Comets Community compounding consolidation” conventional Corporate Credit Credit Card credit cards credit union Dance the Night Away debt debt consolidation plan deposit destinations dividend donation down payment Dream earnings education Entrepreneurs Equifax equity expenses experienced investing experienced investor FDIC FHA FHA loan Fical Finance Financial financial literacy program financing Firley Moran First First Source Federal Credit Union for Games Genesis Genesis Group gifts giving Giving Tuesday Go Good Good News Center Goodison-Bick Greiner Group guide Halloween HCCC Health healthy pet loan Heart HELOC herkimer holiday Holiday loan holidays home home buying Home Equity Line of Credit Home Equity Loan Home Equity Loans Home Improvement Loan hot tub house House of the Good Shepherd Hug Indoor installation interest invest Investment investments IRA JD Arrante Jessie Joseph R. Carucci Legacy Awards Julie Keller KIDS Kid's Oneida kitchen remodel kristy learn lien lienhouse Lilli living smarter LMV loan Loans Local long-term savings manage management Marketing Maxam medical Mel member members mentoring Michael Mike missing money money management Money Market Money Market Account Mortgage Mortgages Motorcycle Financing Motorcycle Loan MVCC National Center for Missing & Exploited Children National Credit Union Youth Month NCMEC NCUA Neumann New New Hartford new investors nole North Utica of One Oneida online online safety Only order checks Orsomarso overdraft Pamela paperwork Paralympics Parsons patient pay bills payments personal loans pet care pet financing pet surgery Pete pets plan planning Posts Power presents President/CEO programs protection purchase QR Questions rates Recreational Loan recreational loans Red reduce relief renovation Requirements Resolutions resort resorts retirement rewards ride Rome Roth IRAs Run RV RV & Camper Loan Ryan Misencik Safety saving savings savings account savings” Schools Schumer security Sen. service settlement” Sherman Sinnott Education Center ski resort ski trips sled snowboard snowmobile snowmobile trails social media Source South South Utica spending spots SSHS Staff Stevens-Swan Humane Society students Sue Summer system Tammy Cieslak Tanya Taxes teachers Team teens Term Share Certificate testimonial the The American Cancer Society The Genesis Group Tiny's Grill Tips Tom Traditional IRAs travel treatment treats Tricia trip TV Union Unite United United Way Up Utica Utica Children’s Museum Utica Zoo VA vacation vacation financing vacation loan Valley Health Services Video Visa volunteer Waggle Walk Walk-A-Thon Way We Wear Wellness Wells Wendy Why wig Wiggle wild Winner winners Winter withdrawal women Women’s Employment & Resource Center Year's York You You’re Young Young Entrepreneurs Academy Young Scholars Program YWCA