Kitchen Remodel Loans and Financing Options

A complete kitchen makeover can come with a steep price tag. The typical cost of renovating a kitchen ranges from $14,000 to $41,000, with the average remodel project running $26,830. A high-end kitchen upgrade could cost even more, with your total budget surpassing six figures. 

Kitchen remodel loans can help you pay for home improvement projects, large or small. A kitchen remodeling loan is a personal loan that offers access to a lump sum. If approved, you could put those funds to work to cover a variety of renovation costs. 

If you’re considering a personal loan for kitchen remodeling, it helps to know where to find them. It’s also wise to consider the pros and cons, as well as alternative financing options that might be a better fit. 

In this guide:

• Best kitchen remodel loans
• Pros and cons of a personal loan for a kitchen remodel
• How to choose a loan for your kitchen remodel
• How to apply for a kitchen remodel loan
• Alternatives to personal loans to finance a kitchen remodel
• Kitchen remodel FAQ 

Best kitchen remodel loans

A personal loan is just what it sounds like—a loan you take out for personal reasons. When you get a personal loan, you can decide how to spend the proceeds. You then pay back what you borrowed with interest over time, according to the payment schedule your lender sets. 

Personal loans are different from credit cards, which are a form of revolving credit. With credit cards, your available credit limit increases or decreases when you make purchases and pay them off. They’re also distinct from home equity loans and home equity lines of credit (HELOCs), which use your home as collateral. 

Finding the best personal loan for kitchen remodeling can depend on your needs and budget. Your credit scores also play a part because lenders can rely on your credit history to approve you. We’ve rounded up the best kitchen remodel loans to consider for borrowers with different credit profiles.

Tip

Checking your credit score can give you a better idea of which loans you’re most likely to qualify for. You can use a tool such as Credit Karma to check your credit score for free.

Click the lender’s name in the table below to read more about its kitchen remodel loan options.

Lender	Best for	Editorial rating (out of 5)	Standout feature
SoFi	Good credit	5.0 stars	Get same-day funding once approved
Upgrade	Fair credit	4.9 stars	No prepayment penalty if you pay your loan off early
Upstart	Thin credit	4.8 stars	No minimum credit score requirement in most states
LightStream	Excellent credit	4.8 stars	Borrow up to $100,000 with no origination fee

SoFi — Best for good credit

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Editorial rating: 5.0 out of 5

• Borrow up to $100,000 for kitchen remodeling
• Same-day funding available once approved
• No origination fees

SoFi offers unsecured personal loans of up to $100,000, which is an advantage if you’re trying to fund a larger kitchen remodeling project. SoFi has no collateral requirements and no annual fees, and you can take up to 84 months to repay your loan. 

Loan rates are fixed, which makes it easier to budget for repayment. If you enroll in autopay and open a checking and savings account with SoFi, you can qualify for two interest rate discounts. SoFi offers same-day loan funding once borrowers are approved. 

• Soft credit check: Check your rates without affecting credit scores
• Deposit time: Same-day funding available
• Origination fee: None
• Late fee: None
• Interest rates: 8.99% – 25.81% APR when all loan discounts are applied
• Repayment terms: 24 – 84 months

Upgrade — Best for fair credit

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Editorial rating: 4.9 out of 5

• Borrow up to $50,000 for home improvements
• No penalty for paying your loan off early
• Lower minimum credit score requirement

Upgrade’s personal loans range from $1,000 to $50,000, which could make them ideal for funding smaller or mid-sized kitchen renovations. It’s possible to get approved with a credit score below 600, and you can check your rates before applying with no impact on your credit. 

A one-time origination fee applies to Upgrade loans, which Upgrade will deduct from your loan proceeds. Keep this in mind because it’s possible to find kitchen remodel loans from other lenders that don’t require this fee. 

• Soft credit check: Check your rates without affecting credit scores
• Deposit time: 2 – 5 business days
• Origination fee: 1.85% – 9.99%
• Late fee: Up to $10
• Interest rates: 8.49% – 35.99% APR
• Repayment terms: 24 – 84 months

Upstart — Best for thin credit

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Editorial rating: 4.8 out of 5

• Next-day funding once approved
• Borrow up to $50,000
• No minimum credit score requirement in most states

Upstart offers personal loans ranging from $1,000 to $50,000. Once you’re approved, it’s possible to get loan proceeds as soon as the next business day. With no minimum credit score requirement in most states, Upstart could be ideal for financing kitchen renovations if you have less-than-perfect credit. 

You can take 36 or 60 months to repay your loan, and no prepayment penalty applies if you decide to pay it off early. Be aware of the origination fee, but for certain borrowers, it may be as low as 0%. 

• Soft credit check: Check your rates without affecting credit scores
• Deposit time: Next business day
• Origination fee: 0% – 12% 
• Late fee: 5% of the unpaid amount or $15, whichever is greater
• Interest rates: 5.20% – 35.99% APR
• Repayment terms: 36 or 60 months

LightStream — Best for excellent credit

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Editorial rating: 4.8 out of 5

• Loans range from $5,000 to $100,000
• Lengthy repayment terms
• No origination fee

LightStream personal loans allow you to borrow up to $100,000 for kitchen remodeling projects, with a minimum loan amount of $5,000. Once approved, you can receive loan funding as soon as the next business day—no origination fees or late fees apply. 

Loan terms range from 24 months to 144 months, so you can choose what works best for your budget. If you enroll in autopay, you can qualify for an interest rate discount to save on total loan costs. 

• Soft credit check: Not available; hard credit pull is required to see what rates you qualify for
• Deposit time: One business day
• Origination fee: None 
• Late fee: None
• Interest rates: 7.99% – 25.49% APR with autopay discount
• Repayment terms: 24 – 144 months

Pros and cons of a personal loan for a kitchen remodel

Kitchen remodel loans can offer several advantages compared to other financing options. But they may not be right for everyone. Here are the main pros and cons. 

Pros

• You might be able to borrow up to $100,000 to fund a kitchen remodeling project using a personal loan. 

• Kitchen remodeling loans are typically unsecured, so no collateral is required. 

• You can decide when and how to spend loan proceeds on your remodeling expenses. 

• Loan rates are most often fixed, so you have predictability when budgeting for monthly payments. 

• There’s no need to pledge your home to obtain a kitchen remodel loan. 

Cons

• Taking out a larger loan could mean a larger monthly payment and more interest paid overall.

• No tax benefits are associated with paying interest on personal loans for home improvements. 

• A lower credit score could translate to a higher loan rate, making borrowing more expensive over the long term. 

How to choose a loan for your kitchen remodel

Along with the lenders we’ve profiled here, you have plenty of other options for kitchen remodel loans. With that in mind, it’s important to consider what boxes you need a loan to check off. 

Here are helpful questions to ask as you compare home improvement loans:

• How much do you need to borrow for your kitchen remodel?
• Which loans and loan rates are you most likely to qualify for, based on your credit scores?
• How fast can you get loan funds once you’re approved?
• Are there any origination fees or prepayment penalties?
• How long will you have to repay the loan, and what would the monthly payment be? 
• Does the lender offer any special benefits or perks, such as an autopay discount or the option to pause payments if you lose your job? 

Getting rate quotes from at least three lenders can give you an idea of what kind of loan options might be available to you. While you’re comparing rates, that’s also an opportunity to take a closer look at the fine print. For instance, if the lender charges a prepayment penalty, that’s something you’d like to know upfront. 

How to apply for a kitchen remodel loan

Once you’ve chosen a lender, you can apply for a kitchen remodel loan. The exact steps may vary based on the lender, but generally, the process goes like this: 

1. Complete the application. You’ll need to fill in your personal information, including your name, date of birth, and Social Security number. You’ll also need to share details about your employment history and income, as well as your desired loan amount. This step may take 10 minutes or less to complete. 
2. Upload supporting documents. The lender may need to see copies of your pay stubs, recent bank account statements, or tax returns to process your application. If you’re applying for a kitchen remodel loan online, you should be able to attach them to your application. This step may take a little longer, depending on what documents you need to supply. 
3. Wait for approval. Once the lender has your application, they’ll review it and approve or deny you for a loan. It’s possible to get instant approval in minutes or same-day approval, depending on which lender you choose. 
4. Sign off on the loan documents. If approved, you’ll just have to sign off on the loan agreement. This document details the specifics of the loan, including how much you’re borrowing, your interest rate, the repayment terms, and any fees. Signing documents should take just a few minutes. 
5. Provide bank account information. The last step is telling the lender where to send the money. You’ll need to share your bank routing number and bank account number to set up direct deposit of the loan funds. You may be able to get loan funds the same day or within two to five business days, depending on the lender. 

Applying for kitchen remodel loans is uncomplicated. Preparing any documents you might need to share with the lender beforehand can save you time once you’re ready to complete the application. 

Alternatives to personal loans to finance a kitchen remodel

Kitchen remodeling loans are just one possibility for financing home improvements. Other options you might explore include home equity loans and HELOCs, store or company financing, and credit cards. 

Home equity loan and home equity line of credit (HELOC)

A home equity loan is secured by your equity. Equity is the difference between what you owe on your home and its market value. A home equity line of credit is also secured by your home, but there’s one difference. 

Rather than getting a lump sum like with a home equity loan, you get access to a revolving credit line. You can withdraw from your home equity line as needed, and you only pay interest on the amount you use. HELOC rates may be fixed or variable. 

With both, your home secures the loan. If you can’t make your payments and you default, the lender could attempt to foreclose on the property. That’s an important risk to weigh when choosing how to finance home improvements. 

Pros

• You might be able to borrow a larger amount if you have substantial equity built up in your home. 

• Interest on home equity loans and HELOCs may be tax-deductible when loan funds are used to pay for home improvements. 

• Home equity loans can offer low, fixed interest rates for the most creditworthy borrowers. 

Cons

• You’ll typically need to have at least 15% to 20% equity in your home to get a home equity loan or HELOC. 

• A HELOC with a variable rate could become more expensive over time if the rate adjusts.

• Missing a payment to a home equity loan or HELOC could put your home at risk. 

Store and company financing

Big-box home improvement stores and smaller local businesses can offer in-store financing to customers. You can buy the materials and supplies you need and pay for them over time. Some retailers may offer a 0% interest financing option, which allows you to pay no interest if you pay off your purchases within a certain period. 

Company financing works the same way, but it has a different use. For instance, if you plan to hire a construction company to handle the renovations, you could use in-house financing to pay for materials, supplies, and labor costs. 

It’s important to read the fine print on zero-interest financing promotions. If you fail to pay the balance in full on time, any accrued interest charges could be added to the total. 

Pros

• Store or company financing may be easier to qualify for than a personal loan for remodeling. 

• A 0% interest financing offer could save you serious money if you pay off the balance on time. 

• You may be able to take advantage of flexible payment terms.

Cons

• You might need to spend a minimum amount to be eligible for store or company financing.

• If you’re subject to interest charges, rates may be higher than you could get with a personal loan. 

• Not all home improvement stores or contractors offer financing to clients. 

Credit cards

Credit cards can allow you to charge kitchen remodeling expenses as you go and pay them off over time. A card that offers a 0% introductory APR on purchases might be attractive if you’re confident you can pay off the balance before the promotional rate ends. 

You can also use a credit card to earn rewards on home improvement purchases. A card that offers a flat cash-back rate might be preferable if you don’t want to worry about juggling different reward categories. 

When considering a credit card for kitchen remodeling purchases, keep in mind that maxing out one or more cards could hurt your credit scores. Also, take note of the card’s regular variable purchase APR and the annual fee.  

Pros

• Credit cards offer convenience when you need to charge paint, tiles, appliances, fixtures, or other necessary supplies for a kitchen renovation.

• You might be able to earn cash back, points, or miles on home improvement purchases. 

• No need to apply for a kitchen remodel loan if you use a credit card you already have.

Cons

• If you carry a balance month to month and pay interest, it could make your purchases more expensive. 

• Paying excessive interest or a high annual fee could negate the value of any rewards you earn. 

• It could be easy to overspend if you’re not keeping track of purchases for your remodeling project. 

One more option you might consider is paying cash. If you have money in savings, you could use it to fund a kitchen remodeling project. However, that might not be realistic or comfortable if you prefer to keep cash tucked away for emergencies. 

Comparing rates and terms for kitchen remodel loans and estimating your total costs can help you decide whether one might make sense for you. You can use a personal loan calculator to estimate your payments before exploring the best home improvement loans. 

Kitchen remodel FAQ 

How long will it take to get approved for a kitchen remodel loan?

Approval for kitchen remodel loans can be as fast as the same day, depending on which lender you choose. Once approved, you may be able to get loan funds the same day or the next day if you’re working with an online lender. 

What are the tax implications of using a personal loan for a remodel?

There are no tax implications for using a personal loan to pay for home improvements because the interest is not a deductible expense. However, you may be able to deduct home equity loan or HELOC interest if you use the funds for home renovations or repairs. 

Is it possible to get a kitchen remodel loan with bad credit?

It’s possible to find kitchen remodel loans for bad credit, but keep in mind that you may not be able to borrow a larger loan if you have a poor credit score, and you’re more likely to pay a higher interest rate.