Planning the budget for your home improvement project is a step that you should never skip. And in order to maximize your resources, you should also consider the different financing options available to you. Typically, these include personal loans, home equity loans, HELOCs, credit cards and personal savings.

To help you decide the most practical approach to financing your project, residential and commercial roofing expert Meredith Home Improvements discusses some of the most popular financing options below.


A HELOC, or Home Equity Line of Credit, has basic principles that are a little similar to credit cards. With this type of option, you are given a line of credit that you can borrow against. However, you can only do so within a specified time frame, which is typically 10 years. Afterward, you’ll enter a repayment period wherein you have to pay for the amount that you have used. During this repayment period, you’re not allowed to borrow any more money.

Home Equity Loan

Home equity loans are generally considered a safe choice because they have fixed interest rates and fixed repayment terms. They offer a very predictable and specific arrangement, so you can plan your future expenses accordingly. Home equity loans can let you borrow up to 85% of the value of your home, with the value of your home as collateral.

Credit Card

Many residential roofers, remodelers, and builders accept credit cards nowadays. They’re quite convenient to use, but they usually come with high-interest rates. That said, you may want to consider using credit cards for smaller or less expensive projects instead.

Personal Loan

Much like home equity loans, personal loans have fixed interest rates and fixed payment terms. They do not require any collateral but keep in mind that personal loans can affect your credit score.

Meredith Home Improvements has been in the industry since 1979. We provide an array of services, which range from roofing replacement, gutter installation, attic insulation, and siding installation. Call us at (412) 831-9991 or fill out our contact form to request a free estimate.