HELOC vs Renovation Loan
Compare monthly payment and total cost for two common financing options.
Quick answer
Based on your inputs, the HELOC is cheaper over the life of the loan.
10 years
HELOC
$496/mo
Total paid: $59,513
Renovation Loan
$523/mo
Total paid: $62,770
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FAQ
Which is better for me?
HELOCs offer flexibility; renovation loans bundle one fixed payment. Talk to a licensed lender about your situation.
Are rates fixed?
Renovation loans are typically fixed; HELOCs are typically variable.
Estimates and guidance are educational. Always confirm with a licensed local professional before making decisions.