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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 $150,000. 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 |
7.75% | 7.99% |
90.1 to 95% CLTV |
7.99% | 8.25% |
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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)
Examples
The payment on a $75,000 2nd lien with a 15 year fixed rate loan at 7.75% and a 90% CLTV is $705.96 (Principal & Interest Only). The Annual Percentage Rate is 8.296%.
The payment on a $75,000 2nd lien with a 20 year fixed rate loan at 7.99% and a 90% CLTV is $626.86 (Principal & Interest Only). The Annual Percentage Rate is 8.436%.
The payment on a $75,000 2nd lien with a 30/15 fixed rate balloon loan at 7.99% and a 90% CLTV is $549.80 (Principal & Interest Only). The Annual Percentage Rate is 8.399%. The balloon payment after 179 payments would be $58,116.39.
The payment on a $75,000 2nd lien with a 15 year fixed rate loan at 7.99% and a 95% CLTV is $716.31 (Principal & Interest Only). The Annual Percentage Rate is 8.539%.
The payment on a $75,000 2nd lien with a 20 year fixed rate loan at 8.25% and a 95% CLTV is $639.05 (Principal & Interest Only). The Annual Percentage Rate is 8.701%.
The payment on a $75,000 2nd lien with a 30/15 fixed rate balloon loan at 8.25% and a 95% CLTV is $563.45 (Principal & Interest Only). The Annual Percentage Rate is 8.664%. The balloon payment after 179 payments would be $58,642.73.
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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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