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How to Pay for Your Remodel Using a HELOC or Other Financing Options

Thinking about remodeling your kitchen, bath, or even your whole home—but unsure how to pay for it? You’re not alone. Many homeowners in the Seattle/Tacoma area are ready to invest in their homes but feel overwhelmed by the financing side of things.

The good news? You don’t need to have all the cash upfront to get started. With the right financing tools—including HELOCs, personal loans, or newer platforms like RenoFi, Hearth, Point, and Hometap—you can make your remodel possible without draining your savings.

In this guide, we’ll break down your main financing options so you can confidently move forward with your remodel.

1. Use Your Home’s Equity: HELOCs and Home Equity Loans

If you’ve built up equity in your home, you may be able to tap into it through:

🏡 HELOC (Home Equity Line of Credit)

A HELOC works like a credit card—you're approved for a maximum amount and only pay interest on what you use. It’s flexible, and many homeowners use it to pay for remodeling projects over time.

  • Pros: Low interest rates, flexible draw periods

  • Cons: Variable rates, requires strong credit, your home is collateral

🏠 Home Equity Loan

This is a lump-sum loan based on your equity. You get all the funds upfront and pay it back in fixed monthly payments.

  • Pros: Predictable payments, fixed interest

  • Cons: Less flexible than a HELOC, home is also used as collateral

2. Renovation Financing Tools: RenoFi & Hearth

If you don’t have enough equity (or want a simpler process), RenoFi and Hearth offer modern alternatives.

🛠️ RenoFi Loans

RenoFi partners with lenders to offer renovation loans based on your home’s future value—not just its current value. That means you can borrow more, even if you haven’t built up much equity yet.

  • Pros: Access to more funding, designed specifically for renovations

  • Cons: Longer approval process than a personal loan

🔧 Hearth Financing

Hearth helps you compare prequalified personal loan offers from multiple lenders—no impact on your credit score. It’s fast and doesn’t require home equity or collateral.

  • Pros: Quick approval, no home guarantee

  • Cons: Typically higher interest rates than HELOCs or home equity loans

3. Personal Loans: Fast and Flexible

If you’d rather not tap into your home equity, unsecured personal loans can be a solid option for smaller remodels or bridge financing.

  • Pros: No collateral needed, fast approval

  • Cons: Higher interest rates, shorter repayment periods

4. Shared Equity Options: Point & Hometap

Want to unlock your home equity without monthly payments? Companies like Point and Hometap offer a different approach:

💸 How it Works

They give you a lump sum now in exchange for a share of your home’s future value when you sell or refinance.

  • Pros: No monthly payments, no interest

  • Cons: You give up a portion of future appreciation, may cost more long-term

These options are ideal for homeowners who are equity-rich but cash-poor and want to renovate without adding monthly debt.

So… What’s the Best Option for You?

There’s no one-size-fits-all answer. The right choice depends on:

  • How much equity you have

  • How much you want to borrow

  • Whether you want predictable payments

  • Your timeline and credit score

We work with homeowners in Tacoma and surrounding areas every day to help them plan beautiful remodels that fit their budget. If you’re unsure where to start, we’re happy to guide you through financing options and help you align your dream project with the smartest funding solution.

💬 Ready to Talk?

Whether you’re just starting to plan or already collecting bids, we can help you figure out how to make it all work—financially and creatively.

👉 Schedule a free call with our team and let’s talk through your options.





The information provided in this blog is for educational purposes only and should not be considered financial advice. We are not affiliated with or endorsing any of the financing companies mentioned. Homeowners should consult directly with lenders, financial advisors, or legal professionals before making any financing decisions. We do not guarantee loan approval, rates, or terms, and are not responsible for any outcomes resulting from the use of these services.

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