Americans spent $603 billion on home renovations in 2024. Personal loans are a popular choice for funding projects, offering flexibility and quick funding. Unlike home equity loans, personal loans don’t require equity or collateral. They also have relatively low interest rates and predictable monthly payments. According to the National Association of Realtors, energy-efficient upgrades like insulation and smart thermostats offer the highest return on investment. When considering a personal loan, be sure to budget for permits, labor, materials, and unexpected costs. Making extra loan payments can save you money on interest and help pay off the loan faster.

Read more at Yahoo Finance: How to use a personal loan for home improvements