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Home Improvement Loans

Increase your home's value

Home Improvement Loans

Increase your home's value

A fixed-rate loan for home renovations and improvements

Completing home improvements* significantly enhances your living space and is an investment in your property’s future value. Consider these three remodel projects that not only increase your home’s resale value but also present an opportunity for substantial savings if you choose the DIY route. These projects are smart choices for using a home improvement loan, blending both immediate satisfaction and long-term financial gain.

*Loans must be on single-family detached residential property located in Texas. An estimate or contract for home improvement project must be provided.

**Consult a tax advisor about your specific situation.

Replace the front door

Transform your home’s first impression and boost its efficiency with a sleek, new front door. This affordable upgrade not only enhances your home’s aesthetic but also improves its energy efficiency significantly. Imagine completing this easy project in just one afternoon and enjoying the benefits of a 98% return on investment! A fresh front door design can also serve as a creative expression, adding a vibrant touch of color or unique window placements to refresh your home’s exterior look.

Minor kitchen remodels

Looking to upgrade your kitchen? Minor changes like new cabinets, countertops, and energy-efficient cooktops are affordable options. Not only will these upgrades enhance the aesthetics of your kitchen, but they also allow you to personalize a space where you spend a significant amount of time. Cooking will become easier and more enjoyable when your kitchen is laid out exactly how you like it. Plus, with energy-efficient appliances, you’ll save on electric bills throughout your home’s lifespan.

Wooden decks

Thinking about adding a deck to your home? It’s a smart investment! Why? Because decks provide the perception of expanded living space at a reasonable price. Adding a deck is much more affordable than expanding your indoor space. Don’t miss out on the opportunity to increase your play space without breaking the bank.

Rates & Calculator

Loan Calculator

Loan Amount
Rate (APR)
Term

Enter your loan details to see your repayment information

Disclaimer: Information and interactive calculators are made available to you as self-help tools for your independent use. We cannot and do not guarantee their applicability or accuracy in regards to your circumstances. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.

Monthly payment# of payments
Total paymentTotal interest
Home Improvement Loan (Texas only)
$40,000 – $150,000as low as 8.50% APR*up to 15 years
$40,000 – $150,000as low as 8.50% APR*up to 20 years

*APR= Annual Percentage Rate effective as of November 7, 2023. APR reflects the interest rate, as well as mortgage fees and other charges you may have to pay to get the loan. Financing is available for properties in Texas. Membership eligibility is required. Loan subject to credit approval. A minimum loan amount may apply. Rate based on the loan amount and CLTV (combined loan-to-value) ratio. The rate may differ. Rates and terms are subject to change at any time without notice; other restrictions may apply. Maximum CLTV on primary residences in Texas up to 80%. The borrower may be responsible for additional costs such as origination fee, appraisal fee, credit report, title search, courtesy closing fee, and recording fee. Property insurance is required, including flood insurance where required. Payment per $1,000 is approximately $9.85 per month for 180 months at 8.50% APR.

Frequently Asked Questions

Home Improvement loan proceeds can only be used for repairing, rehabilitating, remodeling or improving a dwelling on the real property where the dwelling is located.

1. All applicants applying for a Home Improvement loan must fall within our Field of Membership and must be listed as a property owner.

2. The subject property must be your primary residence, however, in the case of a vacation or second home, you can get the loan on that property as long as it is not used as a rental for the life of the loan.

3. Loans must be on single family detached residential property located in Texas.

No, there is no fee to apply for a United Texas Credit Union Home Improvement Loan.

100% of your home improvement costs can be financed if the mortgage balance plus the home improvements do not exceed 95% of the market value of your primary residence, or 90% of a second home.

No escrow account is required.

Homeowner’s insurance is required to cover the loan amount and any prior liens.

An appraisal and a current title search are required on most UTXCU Home Improvement loans. Your mortgage specialist will determine what is required and will order these for you.

The minimum loan amount is $40,000. The maximum loan amount is $275,000 depending on your qualifications.

We do not charge points on our Home Improvement loans; however, you have the opportunity to pay points to reduce the rate. For instance, 1 point = 0.25% rate reduction. The maximum discount available is 2 points.

No, there are no penalties charged for making extra payments on your Home Improvement loan or paying it off early.

You may not purchase supplies or begin work prior to the funding of the loan.

No. We do not charge PMI on Home Improvement loans.

No. We currently only offer Conventional Home Improvement loans.

Yes. Applications will be taken online only. The applications go directly to our mortgage partner, Certified Funding. If your application is incomplete, Certified Funding staff will call you and assist you with your application. Disclosures, documents, and closing coordination will be handled by Certified Funding.

A licensed contractor is required on UTXCU Home Improvement loans.

Yes. If you are a licensed contractor, you can perform the work as you would any other project as long as you act independent of the project.

How we help

If you’d like to learn more about a Home Equity Line of Credit or would like to apply for one, stop by any of our branch locations or give us a call at 1-800-531-8456. Our Home Loan Experts are ready to help!