Home Depot Project Loan No Longer Available: What to Know + Top Alternatives

No Longer Available

Important update: As of June 2025, the Home Depot Project Loan is no longer accepting new applications. If you’re an existing borrower, you can continue to manage your loan through the GreenSky portal. For new financing, consider our resource on the best home improvement loans.

Project Loan

• Not a traditional personal loan: Must use Project Loan card for Home Depot purchases or its Home Services
• Repayment terms up to 114 months

• No ability to prequalify

Fixed rates (APR)	7.42% – 19.96%* depending on repayment term
Loan amounts	Up to $55,000
Repayment period	5½ years to 9½ years

Best Home Depot Project Loan alternatives

Table of Contents

1. Home Depot Project Loan at a glance
2. How it works
3. Uses
4. Eligibility
5. Repayment
6. Reputation
7. Customer service
8. Can you still apply?
9. Alternatives

Home Depot Project Loan at a glance

Terms	Details
Fixed rates (APR)	7.42% – 19.96%* depending on repayment term (More on this below)
Loan amounts	Up to $55,000
Repayment period	5 ½ years to 9 ½ years
Unsecured or secured?	Unsecured
Allows joint loans?	Yes; submit co-borrower information at the time of application
Time to funding after approval	If approved in store, get a temporary shopping pass the same day Online approvals may not have access to the full credit line before receiving the card in the mail (often in 3 – 5 business days)
Unique features	Can only use at Home Depot stores or online, and for Home Depot Home Services

How does a Home Depot Project Loan work?

If you’re approved, your APR is based on your repayment term, with longer terms paying a higher rate. This fixed rate ensures predictable monthly payments, essential for budgeting during a home improvement project:

• 66 months (5 ½ years): 7.42% APR
• 78 months (6 ½ years): 12.86% APR
• 90 months (7 ½ years): 16.24% APR
• 114 months (9 ½ years): 19.96% APR

Here’s how the remaining terms work:

• Loan amounts and repayment period: Offering up to $55,000, with repayment periods ranging from 66 to 114 months, this loan allows you to match your borrowing to your project. Monthly payments are designed to be affordable, not exceeding $20 per $1,000 spent.
• Unsecured loan: This loan does not require collateral, making it more accessible for many homeowners.
• Joint loans: The option for joint loans allows sharing the responsibility and can improve your chances of approval.
• Time to funding: Immediate access via a temporary shopping pass for in-store approvals. Upon receiving their card in the mail, online approvals can access their full credit line, often in three to five business days.
• Unique features: This loan is just for use at Home Depot stores or online and for Home Depot Home Services, focusing on home improvement expenses.

Managing the Home Depot Project Loan is convenient and user-friendly. The primary management platform is Home Depot’s online portal, where borrowers can view balances, and statements, and make payments. 

The Home Depot Project Loan can be a comprehensive and accessible financial tool for those undertaking significant home improvement projects, offering a structured and straightforward approach to financing.

What can a Home Depot Project Loan be used for?

The Home Depot Project Loan comes with specific usage restrictions, making it unique compared to general personal loans, which you can often use for almost anything.

The loan is only for purchases at Home Depot stores or its website, and for Home Depot Home Services, encompassing products and services for home renovations. These restrictions ensure borrowers use the loan for its intended purpose: home renovations and improvements, allowing Home Depot to offer fixed APRs and high credit limits that cater to home improvement projects.

Who’s eligible for a Home Depot Project Loan?

Requirement	Details
Use of the loan	Must be used for Home Depot store or online purchase and for Home Depot home services
Citizenship	U.S. citizenship required*
State of residence	No exclusions disclosed
Minimum age	Age to apply for a credit card (18 in most states)

What are the costs and fees of a Home Depot Project Loan?

• Rates: The rate is based on the repayment term. These fixed rates affect the overall borrowing cost, with a lower rate translating to lower total costs.
• Rate calculation: Credit history, loan amount, and repayment term often affect traditional personal loan rates—but with the Home Depot Project Loan, if you’re approved, the only factor that affects your APR is the repayment term you choose. The shortest term available is 66 months, resulting in the lowest APR (7.42%).
• Fees: The Home Depot Project Loan does not include origination fees, application fees, or prepayment penalties, which could make it a more cost-effective choice than credit cards and several personal loan lenders.

Examples of costs:

Rate and term	Monthly payment	Total cost over loan term
7.42% APR over 66 months	$170	$11,220
19.96% APR over 114 months	$125	$14,250

How do you repay a Project Loan from Home Depot?

• Repayment options: Make payments online through Home Depot’s loan management portal, over the phone, or by mailing a check.
• Repayment terms: Terms are fixed and consistent for all borrowers, based on the chosen loan amount and term. The fixed rate and repayment period (ranging from 66 to 114 months) influence the monthly payment amount and the total cost at the end of the term.
• Early repayment: Borrowers can pay off their loans early without prepayment penalties.

Pros and cons of a Home Depot Project Loan

Pros

• Fixed rate

  The fixed rate provides predictable monthly payments, making budgeting easier for borrowers.

• High loan amount

  With a maximum loan of $55,000, it caters well to extensive home improvement projects.

• No fees

  The absence of origination, application, or prepayment fees makes this loan more cost-effective than several other lenders.

Cons

• Restricted use

  You can only use loan funds at Home Depot stores or for Home Depot services, limiting flexibility compared to traditional personal loans.

• No prequalification option

  You can’t prequalify with a soft credit check, so applying could affect your credit score.

• Limited customer service ratings

  Trustpilot and Better Business Bureau reflect low ratings for Home Depot—but these are more reflective of the retail aspect than the loan service.

Home Depot reputation

Source	Customer rating	Number of reviews
Trustpilot	1.7/5	6,216
Better Business Bureau (BBB)	1.13/5	2,187
Google	2.6/5	1,208

Customer service

Here are the ways to contact Home Depot’s customer service for Project Loan inquiries:

• Email: [email protected] 
• Phone number: 877-476-3860, available Monday through Friday, 8 a.m. – noon Eastern, and Saturday and Sunday, 8 a.m. – 11 p.m.

Can you still apply for a Home Depot Project Loan?

No; Home Depot is no longer accepting new Project Loan applications. If you’re looking for similar financing, consider a home improvement personal loan or home equity product instead. Existing borrowers can still access their account to make payments or view statements.

Recap of Home Depot Project Loan alternatives