home remodeling loan

7 Replies


My husband just bought a home to rent out  that needs lots of remodeling done.. He thought he would be able to get a "home remodeling" loan but it turns out one cant get one until home has some equity.

what are types of loans to be able to fix the house up ASAP?


Credit Cards, signature loans, HML?

Did you buy it with cash or is it mortgaged?  If its free and clear you could get a hard money loan against it.  Probably can't if its mortgaged, though.

Other sources of cash could include:

  • private money (i.e., people you know who are willing to lend to you)
  • 401k loan
  • loan against a different property
  • sell something
  • personal loan
  • credit cards and credit card cash advances
  • get a second job

Get a second job.... Been there done that. 

HELOC on primary residence if have and applicable.

Rather than keep digging yourself into a hole, who not stop and put together a plan that has a beginning, a middle and a (happy) ending? It might not be too late?......

@Valeria R.  

Find a local bank that does personal unsecured loans. Google and start calling around. Good luck! 

Lenders will insist on a specific figure before they work with you. Borrowing money for a new kitchen, second-story addition, or other home improvement meant going to the bank, seeing a loan officer, and hoping for the best. 

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