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Kitchen Remodel Financing

Kitchen remodel financing is crucial to line up early on, and that's true whether you want to remodel your kitchen down to the studs or you just want to upgrade your cabinets or appliances. Find out which kitchen loans we recommend and how to apply.

Kitchen Remodel Financing
Holly Johnson
Award-Winning Personal Finance Contributor

With a minor kitchen remodel in a midrange home costing $28,279 nationally in 2022, lining up the right kitchen renovation loan is key. Fortunately, there are an array of lenders who offer home renovation loans with competitive interest rates, reasonable terms, and no hidden fees. Our team of financial experts reviewed and ranked more than 30 online lenders to help you figure out how to pay for a kitchen remodel without breaking the bank.

Our Top Picks for Best Kitchen Remodel Financing

 sofi review
  • No origination, prepayment, or late payment fees
  • Joint applications accepted
  • Offers .25% discount for autopay
  • Borrowers up to $100,000
Min. Credit Score
Min. Credit Score 680+
Loan Amounts
Loan Amount $100K
Est. APR
Loan Repayment 84 months
discover_logo
  • No origination fees
  • Nine month deferment period
  • Direct payments to creditors with debt consolidation loans
Min. Credit Score
Min. Credit Score 660+
Loan Amounts
Loan Amount $2.5K-$35K
Est. APR
Loan Repayment 36-84 months
lightstream._logo
  • Funding as soon as the same day
  • Allows joint applications
  • No origination fee
Min. Credit Score
Min. Credit Score Not Disclosed
Loan Amounts
Loan Amount $5K-$100K
Est. APR
Loan Repayment 24-240 months

How to Choose the Best Kitchen Remodel Loan?

Financing a kitchen remodel may seem overwhelming at first. However, there are some specific factors you can compare across lenders to find the right fit. Our experts studied and compared the following factors for each of the lenders that made our ranking of best kitchen remodel loans.

  • Loan features: Compare kitchen loans based on their features and terms, including available repayment plans and loan amounts.
  • Interest rates and fees: Look for kitchen remodel lenders who offer the most competitive interest rates on the market, as well as kitchen loans with reasonable fees or no fees at all.
  • Application process: Focus on kitchen remodel lenders who let you apply for funding from the comfort of your home and without having to visit a bank or loan office in person.
  • Qualification process: Find out about minimum qualification requirements for lenders you're considering, which may include minimum credit scores, minimum incomes, or a maximum debt-to-income ratio.
  • Customer support: Look for lenders who offer multiple ways to contact them over the phone, through email support, or using an online chat feature.
  • Online user reviews: Read lender reviews on websites like Trustpilot and the Better Business Bureau (BBB).
  • Perks and Bonuses: Look for kitchen remodel loans that come with added features or discounts, such as an auto-pay discount or a refer-a-friend program.

Best Kitchen Remodel Loans for 2022 - Full Overview

The best kitchen remodel loans of 2022 offer competitive rates and terms for consumers whose credit scores and profiles vary widely. Read on to learn which kitchen remodel loans we recommend and the factors that help each lender stand out.

1.SoFi — Best for Upscale Kitchen Remodeling Projects

Because SoFi offers kitchen remodel financing in amounts up to $100,000, this lender is ideal for borrowers who have expensive projects to take on. SoFi home remodeling loans also come with no origination fees and no hidden fees, so borrowers can keep the costs of funding their large project to a minimum. This lender also lets applicants check their rate without a hard inquiry, which is important for those who want to shop around for the best loan terms.
Pros
Loans for kitchen in amounts up to $100,000
Check your rate with no impact on your credit
No origination fees or hidden fees
Unemployment protection included
Auto-pay discounts lower your rate
Cons
Good credit required
Lowest rates require auto-pay
Must borrow at least $5,000

sofi
SoFi lets borrowers finance anywhere from $5,000 to $100,000 for their kitchen remodeling project, and their loans come with no origination fees, no prepayment penalties, and no hidden fees. Interest rates fall between 6.49% to 21.78% with an auto-pay discount applied, and borrowers can choose repayment plans that last between 24 and 84 months. While SoFi does not disclose their minimum credit requirements for a kitchen loan, their loan terms and features limit their products to borrowers with good credit.

The Bottom Line

Consider SoFi if you have a pricey remodeling project to take on and you need to borrow up to $100,000. This lender lets you check your rate without a hard inquiry, so they're worth a look regardless of how much cash you need for your project..

Try SoFi

2.Discover— Best for Minor Kitchen Remodeling Projects

Discover is ideal for smaller kitchen remodeling projects that require up to $35,000 in funding. Loans from this company come with flexible repayment terms and no origination fees, and they are easy to apply for from the comfort of your home. Discover also says they can produce a same-day decision in most cases, and that you can get access to your loan funds as soon as the next business day.
Pros
No origination fees or hidden fees
Competitive interest rates and terms
Flexible repayment options
Check your rate with no impact on your credit
Fast and easy funding
Cons
Loan amounts capped at $35,000
Not available for bad credit

discover
Discover kitchen loans come in amounts that range from $2,500 to $35,000, making them ideal for a minor kitchen remodeling project or the full overhaul of a small kitchen. Interest rates range from 5.99% to 24.99% APR, and borrowers can repay their funding over 36, 48, 60, 72 or 84 months. These loans come with no origination fees and hidden fees, and they're available to borrowers with decent credit or better.

The Bottom Line

Consider Discover if you need to borrow up to $35,000 for your project and you want access to competitive rates and terms. Like other loan companies that made our ranking, Discover lets you check your rate and gauge your approval odds before you apply.

3.LightStream — Best for Payment Flexibility

We chose LightStream as the best for payment flexibility due to the fact you can repay your home remodeling loan over up to 240 months. Having this amount of time to pay off your kitchen remodel can help you secure a low monthly payment you can afford. LightStream also offers competitive rates and terms, and their loans come with no origination fees and no hidden fees. LightStream also lets you borrow up to $100,000 for your project, so they're a good option for remodeling jobs at any price point.
Pros
Kitchen loan amounts up to $100,000
Check your rate with no impact on your credit
Flexible repayment terms up to 240 months
No origination fees or hidden fees
Exceptional auto-pay discount
Competitive rates and terms
Cons
Not for borrowers with bad credit
Lowest rates require auto-pay

lightstream
Kitchen loans from LightStream are offered in amounts from $5,000 to $100,000, and borrowers can repay their funding over 36 to 240 months. There are no origination fees or hidden fees for their loan products, although a minimum credit score of 660 is required. Note that LightStream interest rates range from 3.49% to 19.99% with auto-pay, but that rates and terms can vary depending on the purpose of the loan.

The Bottom Line

Consider LightStream for your kitchen remodel financing if you want the option to repay over a longer period of time than other lenders. With the chance to make payments on your kitchen remodel loan for up to 240 months, you can score a monthly payment you can afford.

4.Rocket Loans — Best Customer Experience

Rocket Loans offers funding for a variety of purposes, yet their kitchen remodel loans are some of the most popular. Their entire loan process takes place online, from the application to watching your funding show up in your bank account. Borrowers can also get funding as soon as the same day. Because past customers like their loan process so much, Rocket Loans has an average star rating of 4.8 out of 5 stars across more than 4,000 reviews on Trustpilot.
Pros
Check your rate with no impact to your credit
Borrow up to $45,000 in kitchen funding
Competitive rates and loan terms
Same-day funding available
Strong reviews from past users
Cons
Lowest rates require auto-pay
Kitchen loans capped at $45,000
Origination fees apply
Only two repayment plans

rocket loans
Rocket Loans offers kitchen remodel financing in amounts up to $45,000, and borrowers can choose between two repayment options — 36 months or 60 months. Interest rates range from 5.970% to 29.99% APR with an auto-pay discount applied, although it's important to note that all their loans require an origination fee of 1% to 6%. Rocket Loans does not list a minimum credit score requirement, yet their loan terms imply that their products are available to consumers with fair credit or better.

The Bottom Line

Consider Rocket Loans if you want to work with a lender who has received mostly positive reviews from customers who have used their products. Note, however, that an origination fee applies, and that loan amounts are capped at $45,000.

5.Figure — Best Home Equity Kitchen Loan

Figure offers a home equity line of credit (HELOC) that lets you use your home equity as collateral for your kitchen remodeling project. Loan amounts can be high as a result, although you have to have considerable home equity to qualify. Fortunately, Figure lets you check your rate and approval odds before you apply, and their entire application process takes place online.
Pros
Check your rate with no impact on your credit
Funding up to $400,000 available
Available for fair credit borrowers
Repay funding over five to 30 years
Cons
Origination fee required for reduced APR
Considerably home equity required

figure
Figure offers a HELOC in amounts up to $400,000, although how much you can borrow depends on how much home equity you have. Interest rates can be as low as 3.24%, although the lowest rates may require an origination fee. Borrowers who use their home equity to apply with Figure can choose to repay their line of credit over five to 30 years.

The Bottom Line

If you have considerable home equity and you're tempted to use it as collateral for your kitchen remodel loan, doing so could help you secure a lower interest rate than you'll get elsewhere. Figure can help you find a way to make that happen, and with competitive rates and terms that can lead to considerable savings over time.

6.Credible — Best Kitchen Loan Comparison Site

If you are hoping to compare the best kitchen remodel loans without a ton of work on your part, Credible is worth your time. This loan comparison site lets you look at multiple loan offers in one place without entering your information several times. This can help you save time and money as you shop around for the best kitchen remodel financing product, although you'll need to research each individual lender before you move forward.
Pros
Check your rate with no impact on your credit
Compare multiple kitchen loans at once
Competitive loan terms and rates
Available for fair credit and bad credit
No added fees to use this platform
Excellent reviews from past users
Cons
Credible is not a direct lender
Loan terms vary by lender
Loan requirements vary by lender

credible
Since Credible is a loan comparison site and not a direct lender, rates and terms for their loans vary widely. That said, interest rates can fall between 3.49% and 35.99% with auto-pay discounts applied, and their loans may be available to borrowers with credit scores that range from poor to excellent. Credible does not charge any additional fees to use their platform, but you'll need to compare individual lenders to check for origination fees and hidden fees.

The Bottom Line

Use Credible for your kitchen loan if you want to compare several lenders and loan offers in a single sitting. Not only do you get to compare several lender offers at once, but you can wind up with the best possible rates and terms for your credit profile.

7.Upgrade — Best for Fair Credit

Upgrade offers kitchen remodel financing to borrowers with fair credit or better, or anyone with a FICO score of 580 or above. Their loan amounts are high enough to cover a moderate remodeling project in an average home, and repayment terms are flexible. Upgrade also lets you check your approval odds online before you apply, so you can get a general idea of your loan rate and terms ahead of time.
Pros
Check your rate with no impact on your credit
Available for fair credit borrowers
Up to $50,000 in new kitchen funding
Repay your loan over 24 to 84 months
Cons
Origination fees apply
Potential for a high APR
Loan cap of $50,000

upgrade
Kitchen remodel loans from Upgrade are offered in amounts from $1,000 to $50,000, and interest rates range from 5.94% to 35.97% APR based on creditworthiness. Borrowers can choose to repay their kitchen funding over anywhere from 24 to 84 months, which makes it easy to settle on a monthly payment that can fit any budget. Note that an origination fee of 2.9% to 8% applies to each loan, and that you won't know your fee amount until you apply. A minimum credit score of 580 is required.

The Bottom Line

If you have fair credit but you want to remodel your kitchen this year, Upgrade can make your dream a reality. Their loans are available for people with credit scores as low as 580, and anyone can check their rate online before they apply.

8.OneMain Financial — Best for Bad Credit

OneMain Financial is worth considering if you need a small kitchen remodel loan and you have poor credit. This lender will let you access up to $20,000 in funding for your project, and you can even check your approval odds before you apply. OneMain Financial also has 1,400 physical locations throughout the country if you want a personalized experience. This company also has excellent reviews from past customers, including an average star rating of 4.8 out of 5 stars across more than 40,000 reviews on Trustpilot.
Pros
Check your rate with no impact on your credit
Available for bad credit borrowers
Flexible repayment terms
Visit 1,400 branches nationwide
Excellent reviews from past users
Cons
Loan amounts capped at $20,000
Potential for a high APR
Origination fees as high as 10%

OneMain
Kitchen loans from OneMain Financial are offered in amounts from $1,500 to $20,000 in most states, and interest rates range from 18% to 35.99% APR based on creditworthiness. Borrowers can choose a repayment plan that lasts from 24 to 60 months, which also lets them select a monthly payment that works with their budget. Note that an origination fee of 1% to 10% of the loan amount applies, and that borrowers with poor credit will be charged fees on the high end of that range.

The Bottom Line

If you have bad credit but still want a loan from a reputable lender, OneMain Financial is the way to go. Your loan amount can be up to $20,000, which may be enough to replace your kitchen cabinets, your home appliances, or other features of your kitchen you want to update right away.

Best Kitchen Remodel Loans — Main Features Table


Company Name

Estimated APR

Minimum Credit Score

Loan Amount

Loan Terms

SoFi

6.49% to 21.78% APR with auto-pay

Not disclosed

$5,000 to $100,000

24 to 84 months

Discover

5.99% to 24.99% APR

Not disclosed

$2,500 to $35,000

36 to 84 months

LightStream

3.49% to 19.99% APR with auto-pay

660

$5,000 to $100,000

36 to 240 months

Rocket Loans

5.970% to 29.99% APR with auto-pay

Not disclosed

Up to $45,000

36 or 60 months

Figure

As low as 3.24%

620

$15,000 to $400,000

5, 10, 15, or 30 years

Credible

3.49% to 35.99% with auto-pay

Varies

$600 to $100,000

Varies

Upgrade

5.94% to 35.97% APR

580

$1,000 to $50,000

24 to 84 months

OneMain Financial

18% to 35.99% APR

Not disclosed

$1,500 to $20,000

24 to 60 months

What is a Kitchen Remodel Loan?

A kitchen remodel loan is a home remodeling loan consumers use to pay for new kitchen cabinets, new appliances, new kitchen flooring, and more. Loans that fall in this category can vary widely, although the majority are unsecured personal loans with fixed interest rates, fixed monthly payments, and a set repayment schedule that doesn't change.

How Much Does It Cost to Finance A Kitchen Remodel?

The cost to remodel a kitchen varies widely based on several important factors, some of which may be out of your control. The main factors that can impact your kitchen remodel budget can include:

  • Size of your kitchen
  • Quality of materials required
  • Cost of labor in your area
  • Material costs where you live
  • Scope of remodeling project

For example, a high-end kitchen in an area with expensive labor is always going to cost more than a small remodeling project in a rural area. Further, individuals who can do some of the labor on their own will also pay less for their kitchen remodeling project.

With all this being said, a recent study from Remodeling Magazine gave estimates for various kitchen remodeling jobs in 2022. The Cost vs. Value 2022 study showed the following estimates for kitchen remodeling proejcts nationwide:

  • Minor Kitchen Remodel (Midrange): $28,279
  • Major Kitchen Remodel (Midrange): $80,809
  • Major Kitchen Remodel (Upscale): $158,015

How to Get a Kitchen Remodel Loan

Technology and the internet have made getting a kitchen remodel loan easier than ever. The following steps can help you get the kitchen remodel financing you need.

  • Step 1: Figure out how much your kitchen remodeling project is going to cost, either by pricing it out yourself or getting a professional estimate.
  • Step 2: Compare online lenders to see which ones offer the loan amounts you need and a monthly payment you can afford.
  • Step 3: Check your rate with at least three or four companies that offer kitchen remodel loans.
  • Step 4: Compare loan offers extended to you to see which one offers the best rates and terms for the funding you need.
  • Step 5: Check each home improvement loan for potential fees, including origination fees and hidden fees.
  • Step 6: Decide on a kitchen financing company and move forward with a loan application. When you apply online, you'll need to share your personal details, Social Security number, employment information, income, and more.
  • Step 7: Find out if your loan application is approved, and send additional information if your lender requests it.
  • Step 8: Upon loan approval, your kitchen funding should be automatically transferred to your bank account within a few days.
  • Step 9: Use your new source of funding to remodel your kitchen and take care of other small projects around your home.
  • Step 10: Begin repaying your loan based on the terms and conditions you agreed to when you signed your loan documents.

Pros and Cons of Financing a Kitchen Remodel with a Personal Loan

You have probably noticed that most of the kitchen remodeling loans that made our ranking are actually personal loans. There are several reasons this is the case, yet you should understand the pros and cons of using an unsecured loan for home improvements before you apply.

Pros

  • Personal loans are unsecured, so you don't have to use your home or other assets as collateral.
  • These loans come with a fixed APR and a set monthly payment.
  • Lenders in this space offer fast and easy funding, and you can complete the entire loan process online.
  • Where home equity loans and HELOCs require considerable home equity and an appraisal of your home to prove it, personal loans have no such requirements

Cons

  • Rates can be higher on unsecured loans than secured loans.
  • Personal loans do not have tax benefits, whereas home equity loans and HELOCs may if the borrower itemizes when they file their taxes
  • Personal loans typically have lower loan limits than home equity loan products, although that depends on how much equity a person has

Other Kitchen Remodel Financing Options

Before you apply for one of the best kitchen remodel loans in our ranking, you should explore all the alternatives. The following funding options could also work for your home remodeling projects, including a brand new kitchen.

  • 0% APR credit cards: If you have a relatively small project underway and you can repay your funding over a short amount of time, a 0% APR credit card could work. These cards let you enjoy 0% APR on purchases for up to 21 months, which could help you get "free" kitchen remodel funding at first. Just remember that credit cards currently charge an average APR over 16%, so you need to have a plan to pay off your balance before your introductory offer ends.
  • Home equity loans: Similar to unsecured personal loans, home equity loans let you borrow money with a fixed interest rate, a fixed monthly payment, and a set repayment schedule. However, these loans require you to use your home equity as collateral, which means your home is at risk of foreclosure if you default.
  • Home equity lines of credit (HELOCs): Home equity lines also let you use the equity in your home as collateral, and they extend a line of credit you can borrow against in place of a fixed lump sum payment. This financing option can make sense if you have considerable home equity to pull from, although it's worth noting that rates for HELOCs are variable instead of fixed.
  • Cash-out refinance: Finally, you can consider refinancing your home in order to take cash out. This option will leave you with a new mortgage that replaces your old one, but it can help you access the cash you need to fund your new kitchen.

Kitchen Remodel Financing Tips

Before you dive into a huge remodeling project, there are some steps you can take to get the best possible funding. Consider these tips to pay less for your remodeling project and the loan you use to fund it.

  • Check your credit score early in the process. Before you apply for kitchen remodel financing, you should check your credit score to see where you stand. Doing so can help you determine which lenders can extend funding to you, as well as the type of interest rates you'll pay.
  • Consider steps you could take to improve your score. If your credit score is lower than you wish it was, see if you can take some steps to boost it before you apply for funding. Doing so could help you secure a lower rate for your kitchen loan, which can lead to a lower monthly payment and lower total borrowing costs.
  • Get multiple quotes for your new kitchen. Make sure you shop around for everything your new kitchen entails, from the labor required for your project to new appliances, new kitchen cabinets, and updated flooring.
  • Determine whether a full remodel is necessary. See if you can pay less for your kitchen by keeping some aspects of the current kitchen in place. For example, you can save money if you are able to preserve your flooring or re-use newer appliances you already have.
  • Use a loan calculator to see total borrowing costs. Finally make sure you use a loan calculator to see the total costs of your kitchen loan. This includes the interest and fees you'll pay upfront or monthly, as well as the total interest charges over your loan term.

Conclusion

The best kitchen loan can help you finance your dream kitchen, whether you want to change your kitchen's layout completely or you just want to refresh the cabinets and appliances you already have. Either way, you should shop around and compare rates with several different lenders before you apply. By seeing how several home remodeling loans stack up side-by-side, you can wind up with the best financing for your project and your budget.

Frequently Asked Questions(FAQ)

How do you pay for a new kitchen?
You can pay for a new kitchen using any funding you have, whether you decide to pull from your savings account or you apply for a kitchen loan. Some kitchen remodeling companies may let you pay with a credit card, although they will likely charge transaction fees if you do.
What is the biggest expense in a kitchen remodel?
Generally speaking, the biggest expense in a kitchen remodel is new kitchen cabinets. While costs can vary, the price of new kitchen cabinets can easily make up 25% of your kitchen remodeling budget or more.
Can you finance a kitchen remodel?
You can definitely finance a kitchen remodel, and there are many financial products that let you do so. Not only can you use a personal loan to finance a new kitchen, but you can use a home equity loan, a home equity line of credit (HELOC), or a credit card in some cases. You can also choose a cash-out refinance for your mortgage and access funding that way.

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About the Author

Holly Johnson

Holly Johnson

Personal Finance Expert

Holly Johnson is an award-winning writer who covers personal finance topics such as insurance, loans and loan products, budgeting, credit cards and loyalty programs.

More about me