Is a home improvement loan secured by my house?

An unsecured personal loan is not secured by the home, but HELOCs and home equity loans are. The calculator models a personal-loan style payment.

Should I include an origination fee?

Include it if the lender charges an upfront percentage fee. Some lenders deduct it from the proceeds, reducing the amount received.

Does this estimate the value added by a renovation?

No. It focuses on financing cost. Resale value depends on the project, local market, workmanship, and buyer preferences.

Home Improvement Loan Calculator

Estimate a home improvement loan payment, total interest, origination fee, amount received, and total cost of financing a renovation project.

Project cost ($)

Cash available ($)

APR (%/year)

Loan term (years)

Origination fee (%)

Home improvement loan payment estimate

Search results for home improvement loan calculators focus on monthly payment, total interest, total loan cost, and fees. This page models an unsecured personal-loan style renovation loan, while related home equity options can be compared separately.

Project cost and cash available.
Loan amount needed to cover the remaining renovation budget.
APR, term, monthly payment, and total interest.
Optional origination fee and amount received after the fee.

Compare financing options

A personal loan, HELOC, home equity loan, cash-out refinance, or contractor financing can have different rates, fees, collateral risk, and repayment terms.

Payment and fee formulas

L o an = P r o j ec t cos t - C a s h a v ai l ab l e

The loan amount covers the unfunded part of the renovation budget.

M = L o an \cdot \frac{i ( 1 + i ) ^{n}}{( 1 + i ) ^{n} - 1}

M is monthly payment, i is monthly APR, and n is months.

T o t a l cos t = M \cdot n + O r i g ina t i o n f ee

This simplified estimate excludes late fees, optional products, and lender-specific disclosures.

Frequently Asked Questions

Sources and References

Calculations are based on the listed reference sources. Links open in a new tab.

Updated: June 2, 2026

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