HomeHome Improvement20k Home Improvement Loan
Advertising Disclosure Acorn Finance receives compensation from some of the companies featured on our website, which may influence the presentation and order of the offers shown. Please note that not all loan options, savings products, or lenders are represented on our site.

$20,000 Home Improvement Loans

Compare monthly payment options from several lenders in under 2 minutes.

How much would you like to finance?

$20K Home Improvement Loans

There are many lenders who offer $20,000 home improvement loans including most banks, credit unions, and online lenders. Borrowing money to make home improvements can be a smart investment. It can increase the value of your home as well as improve the quality of your life.

Get Started

Compare rates from top lenders

Learn More About $20K Home Improvement Loan

Here are some of the most trusted and respected online lenders who can help you secure your $20,000 home improvement loan.

Read more - FAQ


What lenders offer $20,000 home improvement loans?

With so many options for lending organizations out there, it can be a bit overwhelming to know who can be trusted and which lenders have a good reputation. Online lenders have a reputation for offering some of the most competitive home improvement loans with fast funding. Since they have less overhead and are more accessible, they can often pass along better deals to their customers. Shopping loan offers online is much easier than going from bank to bank. In addition, there are online platforms that allow you to shop several home improvement loan offers at once. Acorn Finance is an online platform that allows consumers to check personal loan offers from top national lenders, some of which are mentioned below.
Here are some of the most trusted and respected online lenders who can help you secure your $40,000 home improvement loan.


LightStream is a top-rated lender that can offer $20,000 home improvement loans to borrowers with good to excellent credit.
Loan amounts: $5,000 – $100,000
APR: 6.99% -16.49%
Terms: 2 – 12 years
Origination fee: None
Minimum credit score requirement: 660
Funding time: As soon as one business day (although funding times may vary)


SoFi is a top competitor of LightStream. SoFi can offer $20,000 home improvement loans, but is best for borrowers with decent income and a good credit score.
Loan amounts: $5,000 – $100,000
APR: 5.99% -20.94%
Terms: 2 – 7 years
Origination fee: None
Minimum credit score requirement: 680
Funding time: As soon as one business day (although funding times may vary)


Prosper is a peer-to-peer lender with a maximum loan amount of $40,000. They are well-known for their unique lending model and outstanding customer service.
Loan amounts: $2,000 – $40,000
APR: 8.99% -35.99%
Terms: 3 and 5 years
Origination fee: 2.41% to 5%
Minimum credit score requirement: 600
Funding time: Normally in 5 business days (although funding times may vary)


Upgrade is an online lender that can help borrowers with credit challenges. As an added bonus, they offer several discount opportunities and unique loan features.
Loan amounts: $1,000 – $50,000
APR: 6.94% -35.97%
Terms: 3 – 7 years
Origination fee: 2.9% – 8%
Minimum credit score requirement: 560
Funding time: As soon as one business day (although funding times may vary)


Axos Bank can offer home improvement loans up to $50,000 with the flexibility to change your payment date. Compared to other lenders on our list, their offers may not be as competitive.
Loan amounts: $5,000 – $50,000
APR: 7.99% -35.97%
Terms: 1 – 5 years
Origination fee: 0% – 2%
Minimum credit score requirement: 700
Funding time: As soon as one business day (although funding times may vary)


LendingUSA can offer personal loans for a wide range of uses, including home improvements.
Loan amounts: $1,000 – $47,500 (can vary by term and loan purpose)
APR: Up to 29.99%
Terms:3 & 5 years
Origination fee: Up to 8%
Minimum credit score requirement: 620
Funding time: As soon as same business day


UniversalCredit can help borrowers with bad credit obtain personal loans. They are best known for debt consolidation loans.
Loan amounts: $1,000 – $50,000
APR: 8.93% -35.43%
Terms: 3 – 5 years
Origination fee:4.25% – 8%
Minimum credit score requirement: 560
Funding time: As soon as same business day

Is $20,000 enough for home improvements?

Yes, $20,000 is a good sum of money to accomplish many different home improvement projects. You can either use the $20,000 all in one project like a bathroom remodel or you can spread it out to accomplish multiple smaller projects like some backyard landscaping, new carpeting in the bedrooms, and a paint job for the kitchen. A home improvement loan of $20,000 is an excellent sum of money to get a good chunk of home repairs and upgrades complete without increasing your debt burden by an astronomical amount. A $20,000 home improvement loan is reasonable enough that it could be paid off in a short amount of time allowing you to complete your projects, make your monthly payments, and in the meantime, you can start planning which projects you would like to complete next. Once the loan is paid off, you can simply take out a new loan to get started on what you had envisioned for the next stage of your home's transformation.

How can you get a $20,000 home improvement loan?

There are many ways you can get a $20,000 home improvement loan. You can first approach your personal bank or credit union to see what kind of financing options are available for personal loans. Based on your credit score, you may be offered various secured and unsecured personal loan options that may come with different repayment options and interest rates. If you are curious about what the best interest rates are available, maybe for a borrower with your credit profile, you may want to explore a personal loan option through an online lender. Whether you compare offers from a few different banks or a mix of banks and online lenders, you should always check a few offers before selecting one. Most lenders offer a prequalification process that should allow you to receive a personalized offer without impacting your credit score.
The process of getting prequalified with multiple lenders can be time consuming, but it doesn't have to be. At Acorn Finance you can check offers by completing one form. Acorn Finance has a network of top national lenders that can offer personal loans up to $100,000, depending on credit score. Within 60 seconds or less you can check offers with no impact on your credit score.
Next, choose the offer that is best for your needs and take the next step with the lender. Most of our lending partners can fund loans in as little as 24-hours, although funding times may vary.

What will $20,000 get you in home improvements?

There are plenty of home improvement projects that you can complete for $20,00 or less. You could remodel a bathroom, install new flooring, install a cement driveway or patio, paint the house, replace your roof, complete a backyard landscaping project, put in some new doors and windows, or complete a modest kitchen renovation. $20,000 is a good sum of money to get a lot done without taking on a large amount of debt.

Can you get a $20K personal loan for home improvements?

Yes, a $20K secured or unsecured personal loan is an extremely common way to fund home improvements. Many lending institutions offer home improvement loans to homeowners looking to give their homes a fresh new feel and look. Whether you are installing a new cement driveway, building a deck, or installing new flooring, many banks, credit unions, and online lenders can help you finance your project with a $20K personal loan.

What is the monthly payment on a $20K loan for home improvements?

Monthly payments on a $20K personal home improvement loan are determined by the APR and the loan term. A 5-year loan is going to have much lower monthly payments than a 3-year loan. The best way to estimate monthly payments on a $20K home improvement loan is to prequalify. When you pre qualify you can alter the loan term to get an estimated monthly payment based on the interest rate you would likely qualify for based on your credit score. The next best thing you can do is use a loan calculator to get some estimated monthly payment figures.

Can you write off $20,000 worth of home improvements from a loan?

Only certain home improvements are eligible for tax deductions. The IRS makes a distinction between what are true improvements and what are only simple repairs. Only true improvements are tax-deductible. True improvements, also called capital improvements, are renovations that add value to your home, prolong its useful life, or adapt it to new uses. Some examples of capital improvements may include a new roof, a new HVAC system, or a new hot water heater. Since the answer is not as clear as a simple yes or no, if you have any questions about whether or not your home improvement projects are considered tax-deductible, you should consult with your tax consultant.

How can I get a $20K in a home improvement loan?

It is possible to get a 20K home improvement loan in a few different ways. Here is a breakdown of some of the most common types of financing that people choose when looking to complete $20,000 worth of renovations on their homes.

  • Construction to permanent loan:A construction to permanent loan gives you the money you need to complete your home renovations in installments which is often paid directly to the contractor at the completion of certain milestones. For this type of loan, you will be working directly with someone from the bank who will inspect the home to make sure construction is being completed as planned and on time. The bank will also have an appraisal of your home be conducted that will determine its current value and the potential value of the home once the renovations are complete. The value of the loan amount will be determined by the anticipated value of the home after the renovations. Once construction is complete, the remainder of the construction loan rolls into a new primary 15 or 30-year mortgage.
  • Fannie Mae HomeStyle loan:Fannie Mae is a government entity that can offer homeowners HomeStyle loans that allows a person to potentially borrow up to 95% of the future value of their home once renovations are complete. Many lenders may put a loan amount cap at 80% of the future value of a home which then does not require the homeowner to purchase a Private Mortgage Insurance policy. Any Homestyle loan that is extended for an amount that ranges between 80% to 95% of the total future value of the home and the homeowner is required to pay Private Mortgage Insurance.
  • FHA 203k rehabilitation loan:An FHA 203k rehabilitation loan allows a homeowner to potentially borrow up to 96.5% of the future value of their home. Again, anything above 80% of the future value of the home and the homeowner is required to pay Private Mortgage Insurance. An FHA loan is great for someone who may have less than stellar credit since FHA requirements tend to be less strict than private lenders. You could still qualify with a credit score as low as 500. If you have a credit score between 500 and 579, then you can still qualify for an FHA 203k rehabilitation loan with a 10% down payment. If you have a credit score of 580 or greater, you can qualify for the FHA loan with a 3.5% down payment.
  • Home equity loan:A home equity loan borrows against the equity in your home. Equity is determined by the difference between the value of your home and the current mortgage balance. This is a one-time fixed-rate loan that also uses the home as collateral to secure the loan.
  • Home equity line of credit:A home equity line of credit is similar to a home equity loan except that a HELOC is a revolving line of credit that you can borrow against. Borrow as little or as much as you want against the amount you qualify for over a predetermined length of time.
  • Cash-out refinance:If you are looking to refinance your home to take advantage of lower interest rates, you could consider refinancing your home for a larger amount and using the surplus money to fund your home improvement project.
  • Personal home improvement loan: All of the finance options listed above take some time to complete and they can come with more complex paperwork. A personal home improvement loan bypasses all of that and makes borrowing $20,000 extremely simple. If you qualify, you could complete the entire process in one day and receive the money in your account the next day.

There are plenty of ways to secure $20K to complete home renovations and repairs. The best option for you is the one that can save you the most money and that works best for your goals and circumstances.

What credit score do I need for a $20K home improvement loan?

If you are looking for a 20K home improvement loan through a private bank or an online lender, you may want to have a credit score somewhere between 610 and 640 for your best chances to qualify. Many lenders establish some sort of minimum credit score requirements within that range. Some lenders may even require a 660 or 680. That being said, if you are seeking a 20K home improvement loan through the FHA, you can have a credit score as low as 500 to qualify if you have at least a 10% down payment. A score of 580 or above, and you can again qualify for an FHA loan, but this time you will only need a down payment of 3.5%.

How do I qualify for a $20K home improvement loan?

To qualify for a $20K home improvement loan, you need a few different things going for you. First, you should have at least a fair credit score, however, the better the credit score, the better your chances to qualify, and the better your interest rate. Second, you need to be able to show that you have a good amount of income coming in each month with very little going out to pay existing debts. Most lenders require a debt-to-income ratio below 36%. Lastly, a lender may look into your employment history, your personal checking and savings accounts, along with other aspects to get a better idea of your financial situation.

How long can a $20,000 home improvement loan be?

If you are seeking a $20,000 personal home improvement loan, most lenders cap personal loan repayment periods at a maximum of 12-years. Some lenders may only offer a maximum repayment period of 5 or 7-years. It all depends on the lender.

Can you get $20,000 in a home improvement loan online?

Yes, shopping for home improvement loans online is actually a pretty intelligent way to find a $20,000 loan. Online lending has become a large industry in recent years, and because of that, consumers are finding that the loan process through an online loan is not only trustworthy and secure, it is ultra-convenient. The entire process can be done from home and it can be completed in less than a day. Additionally, once the loan is approved, it can be processed, and funds could hit a personal account in as little as 24-hours.

Is a home improvement loan the best way to finance a 20K home improvement project?

If you are looking to complete around 20K in home improvements, the simplest way with the least amount of paperwork and red tape is a personal home improvement loan. You simply qualify for a personal home improvement loan based on your credit score and debt-to-income ratio. Once approved, you can use the money however you see fit and do not need to involve the bank by needing mandatory home inspections and appraisals.

What can you do with a $20K home improvement loan?

With a 20K home improvement loan, you are only limited by your imagination. You could remodel a bathroom and install new flooring in some areas of your home. You could complete a cement driveway and add some landscaping features while you are at it. You could install a new deck or an outdoor kitchen. $20K is a good amount to accomplish a good number of tasks around the house.

What financing companies fund $20K in home improvement loans?

There are many lenders that offer $20K home improvement loans. Here are some of the top-rated lenders that Acorn Finance has partnered with to bring you affordable finance options.

How can I get a personal loan fast?

Get Started

$20000 Loan Calculator


Find the loan you're looking for

Table comparing monthly payments, APRs for approved personal loans.
See your options
Take a few minute to answer few questions, and we'll match you with the right range of lenders to consider
Choose your loan
Find your favorite marketplace of offers and apply directly with the lender you prefer
Do your project
If you're approved, use your funds to cover all your costs now, and pay the lender back month by month

What can I do with a $20,000 personal loan?

A $20,000 personal loan has a number of uses, including (but not limited to):
Home improvement Buying a car Wedding costs
Debt consolidation Medical bills Startup business costs

Still have questions?

What are the best $20k home improvement loans? 

Home improvement loans come in different forms. From secured loans such as home equity loans to unsecured loans such as personal loans (also known as home improvement loans) homeowners should understand loan options. Taking the time to understand and compare options can help you narrow down what’s best.

When it comes to loans, borrowers need to qualify. Just because you have the same credit score as another borrower, does not mean you will receive the same loan offer. Therefore, what’s best for you may not be what’s best for someone else. Additionally, your needs can shift the best type of loan. To help you find the best $20k home improvement loan, let’s break this down into two categories.

(1.) Secured vs. unsecured loans

Secured loans require collateral. Unsecured loans do not require collateral. Secured loans are generally intended for larger home improvement projects. Oftentimes homeowners borrow against the equity in their home and use their home as collateral to borrow money. The benefits of doing so can be higher loan amounts, longer repayment periods, and lower APRs. However, funding times can take longer and you risk losing your home in the event you default on the loan. Unsecured loans such as personal loans or home improvement loans can be offered up to $100,000, depending on credit score. They are based on creditworthiness and approved loans can be funded in as little as 1-2 business days, although funding times can vary.

(2.) Type of loan

Once you’ve decided if a secured or unsecured loan works best, you can move forward with options.

Common types of secured loans for home improvements include the following:

  • Home equity loan: Home equity loans are backed by the equity in one’s home. Most lenders require borrowers to have at least 20% equity in their home to qualify. The process of obtaining a home equity loan can be more complicated and longer than an unsecured loan. During the underwriting process the lender will likely need the collateral appraised. Additionally, there are more legalities when backing a loan with collateral. Similar to a personal loan, home equity loans are generally funded as a lump sum. Rates can be fixed or variable. To obtain a home equity loan you can shop online, but some prefer to visit their local bank or credit union.
  • Home equity line of credit (HELOC): A home equity line of credit is a revolving line of credit secured by the equity in your home. For ongoing home improvements or home improvements that are difficult to estimate the total cost, a line of credit can be ideal. With access to a revolving line of credit, you can access the cash you need, when you need it. Borrowers can draw up to the credit limit and only need to repay what they borrow.

Common type of unsecured loan for home improvements includes:

  • Personal loan or home improvement loan: Personal loans are often used for home improvement projects. In some cases homeowners prefer not to use their home as collateral, need money fast, or perhaps don’t qualify for a secured loan. In any event, a personal loan may be an option to consider. Personal loans are usually funded as a lump sum that’s to be repaid in equal monthly installments with interest. From bathroom remodels to HVAC repair, home improvements are often funded by personal loans. Visit Acorn Finance to check home improvement loan offers from our network of top national lenders.

How do you compare $20,000 home renovation loans?


Comparing unsecured loans is usually simpler than comparing secured loans. With just a little bit of personal information, you can check home improvement loan offers with no credit score impact at Acorn Finance. Our lending partners can offer home improvement loans up to $100,000, depending on credit score. The internet opens many doors that can help borrowers compare loan offers, but you should be mindful of the risks too. Before sharing information, ensure you are working with a legitimate lender or source. At Acorn, you can confidently submit your information and choose a lending partner. Take advantage of our safe and secure platform to simplify the home improvement loan process. We know how stressful home improvement projects are, and believe the need for financing should not further complicate them.

What are $20k renovation loans?


Home renovations can transform a living space(s). While you may be determined to renovate your home or a portion of your home, it can be costly. A $20k or $20,000 renovation loan can provide a lump sum of money that can be used for home renovations. How the loan works and any restrictions or requirements can vary depending on the type of loan and lender. Before applying for a $20k renovation loan you may want to gather estimates to ensure that’s a reasonable amount to cover your project.

How do $20,000 home improvement loans work?


How a $20,000 home improvement loan works can vary depending on the type of loan. If you opt for an unsecured home improvement loan, they are typically funded as a lump sum with a predetermined repayment period. Payments are usually fixed, meaning they will not fluctuate. Personal loans have few spending restrictions which gives borrowers flexibility. In a nutshell, here are 5 steps that outline how a personal loan works.

  1. Prequalification
  2. Offer acceptance
  3. Approval
  4. Funding
  5. Repayment

When are $20k loans for home improvement worth it?


Investing in your home is a smart decision in most cases. Whether the outcome is improving your quality of life, generating additional income, or increasing your home value, home improvement loans can be worth it. However, you should consider the additional cost of borrowing money. In some cases, it won’t make sense to borrow money. Determining if a home improvement loan is worth it is a personal evaluation based on your situation, ability to repay, and needs. Before jumping to compare loan offers, you may want to start by getting estimates. This can help you more accurately shop offers and make educated decisions as to whether a home improvement loan is worth it.

Why choose Acorn Finance for comparing $20,000 home improvement loans?


Our team at Acorn Finance understands the challenges of being a homeowner. We also understand that home improvements have a lot of moving parts and can feel overwhelming. When you add the financial twist, it can elevate stress. Our intention is to deliver a platform for homeowners to find the best home improvement loan offers. We are committed to making the process of checking rates and comparing offers hassle-free and safe. Check rates today with no credit score impact. Opportunity is knocking at your door, open it.

One home, endless possibilities


Personal Loan Information