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Home Improvement Calculator
This calculator can help determine your Combined Loan-to-Value Ratio (CLTV Ratio), but does not constitute a final approval. Rates and fees are subject to change.
Other underwriting factors may apply. 2nd liens only.
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Sample Rates for Home Improvement Loans
For 700+ scores on the lowest scoring borrower and a max debt ratio of 45%.
Other underwriting factors may apply. Second liens only. Maximum loan amount $250,000 (exceptions to $350,000). Minimum loan amount $25,000. Rates and fees are subject to change.
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| | 15 Year
Rate | 20 Year or
30/15 Balloon Rate |
|---|
| Up to 90% CLTV |
6.99% | 7.25% |
| 90.1 to 95% CLTV |
7.25% | 7.50% |
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Add 0.5% to rates above for credit scores of 680-699
Add 1.0% to rates above for credit scores of 660-679
Add 0.5% to rates above for a previous bankruptcy (must be discharged a minimum of 5 years)
Add 0.5% to rate if either borrower is on a work visa
Examples
The payment on a $75,000 2nd lien with a 15 year fixed rate loan at 6.99% and a 90% CLTV is $673.70 (Principal & Interest Only). The Annual Percentage Rate is 7.496%.
The payment on a $75,000 2nd lien with a 20 year fixed rate loan at 7.25% and a 90% CLTV is $592.78 (Principal & Interest Only). The Annual Percentage Rate is 7.661%.
The payment on a $75,000 2nd lien with a 30/15 fixed rate balloon loan at 7.25% and a 90% CLTV is $511.63 (Principal & Interest Only). The Annual Percentage Rate is 7.625%. The balloon payment after 179 payments would be $56,559.51.
The payment on a $75,000 2nd lien with a 15 year fixed rate loan at 7.25% and a 95% CLTV is $684.65 (Principal & Interest Only). The Annual Percentage Rate is 7.760%.
The payment on a $75,000 2nd lien with a 20 year fixed rate loan at 7.50% and a 95% CLTV is $604.19 (Principal & Interest Only). The Annual Percentage Rate is 7.915%.
The payment on a $75,000 2nd lien with a 30/15 fixed rate balloon loan at 7.50% and a 95% CLTV is $524.41 (Principal & Interest Only). The Annual Percentage Rate is 7.880%. The balloon payment after 179 payments would be $56,740.06.
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Home Improvement Loan Application » Click here to complete your online loan application, or call our office at 972-248-0200.
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