Best Contractor Financing For Customers in 2026
Compare personal loans to finance contractor work — renovations, additions, and repairs with no restrictions.
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No credit score impact
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Borrow up to $100,000
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Contractor Financing
Hiring a general contractor for home renovations typically costs $10,000–$75,000+ depending on the project scope. Rather than using a contractor’s in-house financing (which often carries higher rates), a personal loan gives you the freedom to choose any contractor with competitive fixed rates.
Compare the best lenders for contractor financing below.
Best Lenders for Contractor Financing
| Lender | APR range | Loan range | Min. credit | Funding |
| LightStream | 7.49% – 25.49% | $5,000 – $100,000 | 660 | Same day |
| SoFi | 7.99% – 29.99% | $5,000 – $100,000 | 680 | Same day |
| Upgrade | 6.94% – 35.97% | $1,000 – $50,000 | 580 | 1 day |
| Best Egg | 8.99% – 35.99% | $2,000 – $50,000 | 640 | 1 day |
| Marcus | 6.99% – 24.99% | $3,500 – $40,000 | 660 | 3 days |
| Prosper | 6.99% – 35.99% | $2,000 – $50,000 | 600 | 3 days |
Why Use a Personal Loan for Contractor Work?
Personal loans let you choose any licensed contractor — you’re not locked into a dealer network. You control the budget, timeline, and vendor. Funds arrive in your bank account and you pay the contractor directly.
Common Contractor Projects & Costs
Bathroom remodel: $6,000–$25,000. Kitchen remodel: $15,000–$50,000. Room addition: $20,000–$75,000. Deck/patio: $4,000–$12,000. Siding replacement: $5,000–$15,000. Window replacement: $3,000–$10,000.
Frequently Asked Questions
Is it better to use contractor financing or a personal loan?
Personal loans typically offer lower rates and more flexibility. Contractor financing may have 0% promo periods but with retroactive interest risk.
How do I pay my contractor with a personal loan?
Funds deposit directly into your bank account. You pay the contractor per your agreed payment schedule.
LightStream
- Loan range: $5,000 – $100,000
- APR: 7.49% – 25.49%
- Same-day funding
LightStream offers dedicated home improvement rates, same-day funding, and no fees.
SoFi
- Loan range: $5,000 – $100,000
- APR: 7.99% – 29.99%
- Zero fees
SoFi charges no origination, prepayment, or late fees.
Upgrade
- Loan range: $1,000 – $50,000
- APR: 6.94% – 35.97%
- Min. credit score: 580
Upgrade accepts lower credit scores with next-day funding.