If you don't have equity in your home, but still need to make improvements, a Columbia home improvement loan can help you reach your goal. Choose the Renew Home Improvement loan for smaller projects or the Equity Builder loan to fund projects that build your home's value.
Renew Home Improvement Loan
Rebuild, remodel, or repair with remarkable terms!
- Exclusively for home improvement purposes
- Borrow up to $10,000 at a competitive fixed rate for up to 84 months.
- No equity required
Equity Builder Loan
Ideal when you don't have the equity to finance your equity building projects
- Exclusively for equity-building projects up to $50,000
- No equity required
- Interest-only payments during project phase
- Possible tax deductions on interest**
- Ideal for major improvements
Effective as of: March 22, 2010 |
Print Version
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| Renew Home Improvement Loan Rates |
| Repayment Period |
Loan Amount |
Annual Percentage Rate (APR*) |
| 60 months |
up to $4,999 |
7.74% - 11.99% |
| 72 months |
$5,000 to $7,499 |
7.74% - 11.99% |
| 84 months |
$7,500 to $10,000 |
7.74% - 11.99% |
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Effective as of: July 6, 2011
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| Equity Builder Loan Rates |
| Repayment Period |
Loan Amount |
Annual Percentage Rate (APR*) |
| 60 months |
$5,000 to $50,000 |
6.99% - 10.99% |
| Up to 120 months |
$5,000 to $50,000 |
7.99% - 11.99% |
| 121 - 180 months |
$5,000 to $50,000 |
8.49% - 12.49% |
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Renew Home Improvement Loan * APR = Annual Percentage Rate. Your qualifying rate depends on credit qualifications including term of loan, residential status, credit and employment history.
Renew loans must be used for home improvement. Lowest rate available with checking relationship discount.
Checking Relationship Discount provides a .25% APR discount off your qualifying rate for automatic loan payments from a Columbia checking. Auto pay can be set up through online banking or by a Columbia representative; excludes payments with online bill pay. Plan excludes lines of credit, credit card, share secured loans, 1st mortgages, home equity, Equity Builder and business loans.
Equity Builder Loan *APR = Annual Percentage Rate. Your qualifying rate depends on credit qualifications including collateral, term of loan, residential status, credit and employment history. Equity Builder Loans must be used for home improvement. Assume you borrow $50,000 with a $500 loan fee. The calculated APR on a 10 year loan with an interest rate of 7.99% would be 8.46% APR with monthly payments of $303.19.
**Consult your tax advisor for your deductibility status.
Membership is required to borrow. Rates quoted as of the effective date indicated above. Columbia Credit Union may offer other rates in the future.
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