Home Depot Project Loans

[Evan Crawford]

Looking for some alternative ways to pay for materials and came across Home Depot's project loans. It looks like interest only payments for first 6 months then monthly payments at about 8%. Just seeing if anyone has ever used this type of loan and what you thought of it.

Details on it are: up to $40,000 credit line.

Claims payoff anytime

Fixed APR of 7.99% - Amortized for 84 months after first 6 months of interest only payments

Thanks for any feedback