With Upgrade, you can quickly see your rate and how much you qualify for within minutes of filling out an application online, and the funds for your unsecured personal loan are directly deposited into your account within days of accepting your offer and fulfilling necessary verifications.† Plus, a personal loan can provide you with a low fixed rate and fixed monthly payments, so you know how much to budget each month and can circle the date on the calendar when the loan will be fully paid.

With a home equity loan or HELOC, you use the value of your home as collateral, which means you have to first go through the process of getting an updated home appraisal and complete extra paperwork to know how much you qualify for. Plus, using the equity in your home can work against you if property values in the area decline. With a HELOC, you're issued a line of credit based in part on the difference between your home value and mortgage principal, and the rates on HELOCs may be adjustable, which means your HELOC payments may increase after you receive your money.

Read more about the pros and cons of a personal loan, home equity loan, or other financing options.

Credit cards often have high variable interest rates that can increase at any time. This can make it hard to know the true cost of a project and predict when you'll be able to pay it off. When a specific project cost is mixed in with other living expenses, it can become even more difficult to plan when it'll be paid off or even recognize when, or if, it has. With a personal loan through Upgrade, we eliminate those surprises. A personal loan can provide you with a low fixed rate and fixed monthly payments, so you know how much to budget each month and can circle the date on the calendar when the loan will be fully paid.

Read more about the pros and cons of a personal loan, credit card, or other financing options.

No! With a home improvement personal loan through Upgrade, you don’t need to use your home as collateral. This makes the application process simpler and easier. You can check your rate in just a couple of minutes with no impact to your credit score and for no cost. You can skip the process of getting an updated home appraisal and focus on your home improvement project.

The process is simple. First, check your rate. It only takes a couple of minutes and has no impact to your credit score or cost. If you decide that the loan fits your needs, finish your online application. Once you’ve shared any documents Upgrade requests and complete the verifications process you should receive your funds within a day.†

Checking your rate won’t impact your credit score. When you check your rate to see what offer(s) you may qualify for, we perform a soft inquiry on your credit report, which won’t impact your credit score. Soft inquiries can only be seen by you. When you accept your offer and submit your bank account information, we perform a second soft inquiry which also does not impact your credit score. Once your loan is funded, we perform a hard inquiry on your credit report, which may impact your credit score and can be viewed by third parties.

Don’t worry, if you find that you can pay off your loan before your final payment, that’s great! You won’t be penalized - there are no prepayment fees!