Home improvement loans are harder to get now-a-days. There are different types of home improvement loans here a few; unsecured, secured, second mortgage, or home equity line of credit. If you walk into a bank today they will only really want to talk about home equity line of credit, or a second mortgage. This a tough to qualify for because customers need a low LTV (loan to value); which means your homes value have to be more than the amount you owe. With the decline in the housing values it is very hard to get a LTV that falls into their requirements. Usually you cannot get a unsecured line of credit unless it is done through a credit card with all kinds of hidden and annual fees. Last thing they might try is to use a current asset you possess as leverage for the loan. Usually this method is used because most times you don't have to refinance the asset used for collateral.
While we do offer programs, through our partners, that fall into this category, we also offer unsecured financing! Which is easier to qualify for and does not take 30 days to close. Go to our home page and fill out the form for more details. Your personal agent will assist you with all your needs.
Thanks talk to you soon!