Home Renovation Financing Options

A couple reviews their home renovation plans
Need funding for home improvements?

One of the first big decisions when starting a home improvement project is planning how to pay for it. From small projects to full-scale renovations and additions, we have a number of options available including:

  • Mortgage Refinance
  • Home Equity Line of Credit (HELOC)
  • Home Equity Loan
  • Personal Home Improvement Loan
People using HELOC for renovation plans
Limited time HELOC rates as low as 2.99% APR*

Any time is a great time to make home improvements, but for a limited time, your options are even better with a special rate from Banner Bank.

  • Apply for a Home Equity Line of Credit between April 5 - May 28, 2021
  • 0.25% discount when you have a Banner’s Best checking account
  • 0.25% discount when you set up auto-pay
  • Requires minimum FICO score of 800
  • Subject to credit approval

 

""
Home Equity Line of Credit
Use the equity in your home to finance all sorts of ideas, like landscaping your lawn or putting a pizza oven on your patio. You can even use it to consolidate debt or pay off bills. Flexible options make it easy for you to use the credit in the ways you need it most:
  • Funds can be advanced through a Banner Bank Home Equity Rewards Mastercard®, online transfer or by a telephone request.
  • You can fix the rate for either two, five or 10 years, providing protection from increases in interest rates.
  • Interest may be tax deductible for this loan. We always encourage you to verify with your tax adviser.
 
Two people measure wood for home improvements on a tool-covered table
Home Equity Loan
Secure an installment loan for your one- to four-unit family residential property, whether or not you are an owner occupant. It can help you so many ways, beyond just housing needs:
  • Home improvement tasks
  • Debt consolidation
  • College tuition
  • Interest may be tax deductible. Consult a tax adviser to find out.
A father and child measure windows for renovations
Home Improvement Loan
If you're looking for an alternative to using your home's equity to fund your next home project, a Home Improvement Loan might be right for you. It's ideal for home fix-ups in the range of $1,000 to $15,000. We make it easy, with great rates, no up-front fees and no equity requirements.
 
Apply online in just 15 minutes, visit your local branch, or call us at 866-641-5335 to apply over the phone.

A couple envision their kitchen renovation
Refinance your mortgage

Depending on the equity in your home and the size of the home improvement project, you may want to consider either a cash-out refinance or our Home Renovation Loan.»

You may be eligible to use not only the equity you have in your home today, but also the equity you create with your planned project. Apply online or call us at 866-722-5110.


Person paying bills and reviewing finances
Four Steps to Improve Your Credit Score
Thinking of refinancing your home while rates are low? The higher your score, the better your rate. That's why knowing your credit score is an important first step. In this blog, we share four steps you can take to improve your credit score.
""
Four Tips for Financing a Home Build or Remodel
Building or remodeling a home is an exciting project, yet it can be daunting. Before you pound the first nail, you need secure financing. But with so many options today, how to you know which is right for you? In this blog, we offer four tips to find the right finance option.
»

Subject to credit approval and limited to residents of Washington, Oregon, Idaho or California, or current Banner Bank deposit clients.

 *
APR (Annual Percentage Rate) is fixed for the first 12 months, followed by a floating rate of WSJ Prime plus 0.74% with a floor rate at 3.99%. Rate includes discounts of 0.25% with auto-pay and 0.25% for having a Banner’s Best checking account. Annual fee of $100 is waived the first year. Maximum Loan-to-Value is 80%. Requires a minimum FICO score of 800. Excludes existing Banner Bank HELOC clients, purchase money and non-owner occupied transactions. Subject to credit approval. Available for applications submitted between April 5, 2021 and May 28, 2021.
X

This website uses cookies and behavioral data for analytics, personalized content and to optimize your browsing experience.

By using our website, you agree to this use. To learn more about how your data is collected and used, please read our privacy notice.

Confirm