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Personal Loans

Fence Financing: Installation Cost & Loan Options

Updated Jan 22, 2024   |   6-min read

A fence on your property can lend peace of mind while increasing your home’s curb appeal and resale value. New fencing can be a worthwhile investment if you want to create a safe space for your family or just want privacy.

Fence installation may be the smart choice for the value of your house, but paying for that added value can be a challenge for many homeowners. This guide will explain the average installation cost and help you find the best way to finance a fence.

In this guide:

How to finance a fence: 3 methods

Three options to consider when shopping for a home improvement loan to pay for your new fence are:

Personal loans

You can secure personal loans for fence financing online with little time or hassle. Many providers can approve and supply funds the day you apply.

Borrowers use personal loans for almost anything, from swimming pools to new decks to kitchen remodels. The benefit is that you can take out a loan without putting your home on the line. However, because they tend to be unsecured, personal loans may have higher interest rates than secured ones.

Here are two of our highest-rated partners offering personal loans you can use to finance fence installation costs:

LightStream

  • Rates (APR): 7.49%24.49%
  • Loan amounts: $5,000$100,000
  • Credit score: 660+

LightStream offers a home improvement loan you can use to finance a new fence. Available to borrowers with good to excellent credit, LightStream will beat other companies’ interest rates by 0.10 percentage points as part of its “Rate Beat” program.

  • Credit score category: Excellent, good
  • Soft credit pull to check rates: Not available
  • Deposit time: As soon as the same day
  • Origination fee: 0%
  • Late fee: None
  • Discounts: 0.50% interest rate reduction for enrolling in autopay
  • Repayment terms: 24 – 144 months

Upgrade

  • Rates (APR): 8.49%35.99%
  • Loan amounts: $1,000$50,000
  • Credit score: 580+

Upgrade offers personal loans you can use for fencing projects, and its lower minimum credit score makes it an option for more customers. It also offers low minimum loan amounts, making it ideal for cheaper fencing projects.

  • Credit score category: Fair, bad
  • Soft credit pull to check rates? Yes
  • Deposit time: As soon as the next day
  • Origination fee: 2.9% – 8%
  • Late fee: $10
  • Repayment terms: 36 or 60 months

To compare other options, check out our guides to the best personal loans and the best home improvement loans.


Home equity loans

Another financing option is to take out a home equity loan. These are like second mortgages, letting you borrow against the equity you’ve built in your house. Your home is on the line if you can’t repay, but home equity loans often carry lower interest rates than unsecured loans.

Here is our highest-rated partner offering home equity loans to cover the costs of a new fence:

Spring EQ

  • Rates (APR): As low as 9.50%
  • Loan amounts: $25,000$500,000
  • Repayment terms: 5 – 30 years

Spring EQ offers home equity loans you can use to finance a fence project. Funds can be available in as few as 11 days if you’re approved.

  • Minimum credit score: 640
  • Maximum loan-to-value: 90%
  • Origination fee: $700 – $2,000

To compare other options, check out our guide to the best home equity loans.


Home equity lines of credit (HELOC)

Similar to a loan that leverages your home’s equity, a HELOC uses a revolving line of credit, much like a credit card. You only borrow as you need it, rather than taking out a large sum and paying it off over time. 

A HELOC is a terrific financing option for ongoing projects. Here is our highest-rated HELOC partner:

Figure

  • Rates (APR): 6.55%15.54%
  • Loan amounts: $15,000$400,000
  • Repayment terms: 5 – 30 years

With no hidden fees for its HELOC, Figure allows you to borrow up to $400,000 after an online application process that takes less than five minutes. You can prequalify for a loan without any effect on your credit score.

  • Minimum credit score: 640
  • Maximum loan-to-value: 80%
  • Rate reduction: 0.75% for autopay and Quorum discounts
  • Draw term: 5 years
  • Fees: Origination fee of 0% – 4.99%, $0 prepayment fee

To compare other options, check out our guide to the best home equity lines of credit.


>> Read more: Home equity loan and line of credit uses

Other methods of fence financing

Apart from personal loans and lines of credit, builder financing and credit cards could help you cover the costs of your fence project.

Builder financing

Many contractors or fence companies offer their own financing plans among other payment options. This can be a convenient choice and often works well if you trust the contractor, but beware that it might put more power in your contractor’s hands.

Compare the rates and fees your contractor offers against others in the area and those you could get with other forms of financing.

Credit cards

Paying for your fence project with a credit card is an option, but we recommend it as your last resort. Here’s what could make this a smart financial move:

  • You’ve just signed up for a new credit card that requires a certain amount of spending to qualify for a bonus.
  • You’ve just signed up for a new credit card that offers a 0% intro APR.
  • Your fence installation budget is low, and you’re confident you can have your balance paid in full within one billing cycle.

How much does fence installation cost?

According to HomeGuide, the most common cost of a 150-foot-long privacy fence is $2,711. The cost varies depending on materials, the size of your lot, and labor. A private contractor or professional installer will cost more than doing it yourself, but you may prefer the end product.

The most important cost factor is materials. Your cost will be higher if you go with a custom wrought-iron fence that surrounds a large house than a chain link or vinyl fence to enclose a small patch of lawn.

You may also need to factor in permits and zoning fees, painting services, and soil grading if you level your yard first.

You can limit the damage to your wallet by installing it yourself or making small concessions. For instance, do you need ornamental post toppers, or would the standard option suffice? That’s up to your budget.

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