5th Street ITM/ATM Not Available Through Weekend

The ATM/ITM at our 5th Street branch location is currently experiencing an outage and won’t be available until a repair technician can be onsite Monday, June 5th. We apologize for the inconvenience and thank you for your patience as we work to restore full services to this machine.

October 25, 2021

Home improvement loans. What are they? Should I get one?

We’ve spent a lot of time indoors over the last year or so. Hours spent in the kitchen, home office or bedroom might reveal how much your home needs a refresh. If you’re thinking of remodeling, adding new landscaping or making paint and lighting upgrades, consider a home improvement loan.

What is a home improvement loan?

A home improvement loan with Kelly Community is a collateral loan secured by your home that you can take out to use on home improvement projects and renovations. Borrow from $1,000 to $50,000, depending upon your credit score, annual income and other factors. Since it is collateral loan that will add to the overall value of your home, it’s often available at a much lower interest rate than an unsecure personal loan.

A home improvement loan has a competitive fixed interest rate that is usually lower than credit cards. Not only will you pay less over time for the loan, but it will also be a fixed monthly rate until it’s paid off.

When should I consider a home improvement loan?

Your home is most likely the biggest investment you will make in your life. And as any home owner knows, maintenance is part of the long-term investment. Here are a few reasons why you might consider a home improvement loan:

  • You need to repair your home but don’t have the cash on hand for the entirety of the project
  • You do have cash, but don’t want to empty your emergency savings to repair or improve your home
  • You want to spread the cost of renovations and repairs out over a long period of time, but don’t have enough equity in your current home for a home equity loan

If you look around at your house and realize it might be time to for an update, a home improvement loan is a great choice.

You can apply for a home improvement loan today!

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