Home Improvement Loan Calculator

A ‘home improvement project’ is a very broad term and umbrellas renovation projects of all sizes. Before setting off on planning a renovation it is best to have a budget in mind to help set the limits of the project, this is where our loan calculator comes into play.

What Can I Afford?

One way to know how much to invest in a home renovation project is to consider the monthly payment. Knowing what you can afford monthly, allows you to “work backwards” and determine what your budget will be.

Run various scenarios through our loan calculator based on different loan amounts, interest rates, and loan terms to determine which option will work best for you using the calculator. Interest rates change regularly and are affected by your credit score. It is best to have a free consultation with one of our team to talk about what interest rate would apply to you based on your circumstances.

Long Or Short Term Loans?

You can find an affordable monthly payment by entering the loan amount and the desired interest rate. For example, by taking out a longer-term loan, the monthly payment will be lower and more affordable, but you will end up paying more for the project in the long run. A higher monthly payment means paying more ongoing. However, this will shorten the length of the loan and you will ultimately pay less as the amount of interest is less than what you would on a longer loan.

We Are Here To Help

If you want to have a free consultation with one of our specialists, complete the online form and we will give you a call to talk about your options. This is a no obligation consultation and the soft credit check we do will not hurt your credit score.