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Home Improvement & Repair Financing

Use the equity you’ve built to finance the things you need, like remodeling your home, paying for college or consolidating debts.

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Home Improvement Loans & Lines of Credit

Make your home the best it can be with the right financing. There’s always room for improvement, whether that be updating your kitchen to a more modern look, replacing an old roof, or adding a deck for summertime enjoyment. We have home improvement solutions to fit any situation.

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Secured Financing Options

A secured loan is backed by an asset to help guarantee the loan; this is referred to as collateral. For home improvements, the collateral used is typically your home. The amount you may be eligible to borrow is determined by the amount of equity you have in your home, which is the value of your home that exceeds the amount owed on your mortgage.

Home Equity Loan →
Put unused equity to work for you. 

Home Equity Line of Credit →
Access to a line of credit for ongoing use. 

Cash-Out Refinance →
Refinance your mortgage and get cash for improvements.

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Unsecured Financing Options

If you do not have equity in your home, an unsecured loan would be the option for you. An unsecured loan means you don’t need to provide collateral for the loan.

Rapid Home Improvement Loan →
Upgrade your home without collateral requirements.

Believable Banking Home Improvement Loan →
Affordable Home Improvement Loan Program available in select census tracts. 

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What's the Right Option for Me?  

Here are some questions that can help guide you if you're trying to find the right financing option for your home repair project. Keep in mind it's always best to speak to a professional if you need help.

  • Do you own a home and, if so, do you have equity in it? If the answer is no, then an unsecured loan, such as our Rapid Home Improvement Loan, may be your best option for you as you won't be eligible to take out a home equity loan or line of credit.
  • How quickly do you need money? Home equity loans and lines of credit tend to have a lengthier and more robust process.
  • Are you paying for your home improvement all at once or over time?  A home equity loan or personal loan gives you a lump sum of money to access, making it a good fit for projects that need to get paid all at once. A HELOC gives you revolving access to a certain amount of money that you can use as needed over time, making it a flexible financing option for ongoing or multiple projects.
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home improvement icon with house and toolsCommon Uses for Home Improvement Loans

If you're considering taking out a home improvement loan or line of credit to finance you're project there are a couple things to keep in mind. One is what you can use a home improvement loan for. Common uses for a home improvement loan include:

  • Replacing a garage door
  • Doing a minor or major kitchen remodel
  • Adding a wooden deck
  • Replacing an entryway door
  • Replacing an asphalt shingle roof
  • Building a new master suite addition
  • Adding a manufactured stone veneer around house

Let's Get Started

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Our Funding Process


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Explore Your Options & Rates 

Fill out the form below and a specialist will be in touch and help you identify financing options and rate ranges.


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Select a Loan or Line of Credit 

We'll show you the options you qualify for, and you’ll get to choose the financing amount and duration of the loan.


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We'll Review Your Information 

Once you know what you want to apply for, we'll collect some additional information from you.


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Receive Your Money 

Once final terms are accepted, we'll begin the process to fund your loan and transfer funds to you.


Let's Get Started

Frequently Asked Questions

When you are considering making renovations to your home but don't have the cash upfront to pay for the projects, various options can make it possible for you. A home improvement loan allows homeowners to borrow money for their renovation plans when they don't have the savings to pay out of pocket. Home improvement needs sometimes sneak up on homeowners. Renovations can be very expensive, rack up tens of thousands of dollars, and many homeowners just don't have the funds saved for home repairs. Get more information on how home improvement loans work.

There are several things to consider before you decide to take on a home improvement project, the most important being if you can afford it. If the answer is yes, then you should look at the payment methods that work best for your budget and circumstance. Other factors you should consider before renovating are the length of time you intend to stay in your home, whether it increases your home’s value, and how you plan for your project to be completed. Learn more about factors that can help you answer the question, "Should I get a home improvement loan?"

Equity is the difference between how much money you owe on your home and the amount your home is worth. A Home Equity Loan uses that equity you have built up, from either paying off your mortgage or your home’s value increasing, to secure the loan. You will receive your funds from this loan in one lump sum. Learn more about Home Equity Loans.

A HELOC uses your home's equity just like a Home Equity Loan, but the way you receive funds is where these two products differ. Rather than receiving your loan payout in one lump sum, a HELOC gives you access to a line of credit for ongoing use. This is similar to a credit card. You won’t have to apply for another loan each time you need money—just access your HELOC. Learn more about a Home Equity Line of Credit (HELOC).

A cash-out refinance replaces your mortgage with a new one for a larger amount, and pays you cash for the difference. With your new mortgage, you could potentially shorten your loan term, lower your interest rate AND utilize your home equity for renovation projects. Plus, you only have one loan payment. Learn more about refinancing.

This loan will get you your funds in no time! Quickly finance your renovations and repairs with low fixed rates and loan amounts from $5,000 - $25,000 without using your personal property for collateral. Our Rapid Home Improvement Loan is often easier to get than a home equity loan or a regular personal loan, and we offer loan terms up to 15 years¹. Learn more about the Rapid Home Improvement Loan.

This affordable, unsecured loan program is available to qualifying neighborhoods as determined by the Census Bureau. The BBHIL provides flexible and affordable financing to assist with maintaining your home and can be used for a wide array of home repairs or renovations. Learn more about the Believable Banking Home Improvement Loan.

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Ready To Take The First Step?

Our quick and simple home improvement loan process can have you ready to start right away. We're here to help online or in-person. Complete the form below and a Midland States Bank representative will be in touch or schedule an appointment to visit us in-person.

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Schedule Appointment

Your loan terms, including APR, may differ based on loan purpose, amount, term length, and your credit profile. Subject to credit approval. Conditions and limitations apply. Advertised rates and terms are subject to change without notice.

¹Loan fee of $150. Payment examples: Tier 1 loan category ranges up to $10,000 and 120 months: Monthly payments for a $10,000 loan at 7.49% APR with a term of ten years would result in 120 monthly payments of $120.42. Tier 2 loan category ranges from $10,000.01 to $25,000 and up to 180 months: Monthly payments for a $25,000 loan at 8.49% APR with a term of fifteen years would result in 180 monthly payments of $247.48. These examples are estimates only and assumes all payments are made on time. Please contact bank for details..

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