Choosing the Right Financing for Your Next Home Project

 

Your home has big potential. With any new project, the right financing can help you move from Pinterest boards to real plans. At Raiz, we offer several options to help you fund projects of all sizes—from quick fixes to complete makeovers.

Depending on the size of your project, your timeline, and your budget, a Raiz financing option is available for you.

 

First: Size Up Your Project

Before choosing a loan, it’s important to get a rough idea of your total project cost. Minor upgrades like lighting or paint might only cost a few hundred dollars, while adding a new room or redoing your kitchen could cost tens of thousands. Jot down your needs and your “nice-to-haves.”

If you can, get a few estimates so you can have a more accurate idea of how much your project will cost. Knowing the size of your project helps narrow down which financing to choose.

 

Small Purchases or Projects (Under $1,000)

Examples: Fresh paint, replacing light fixtures, new small appliances

Recommended Option: Raiz Mastercard® Credit Card

Credit cards are great for small, manageable purchases you plan to pay off quickly.

• Credit limit: Based on your creditworthiness
• Offer: Enjoy a low introductory rate of just 6.90% APR for the first six months! After the promotional period, your rate ranges from 9.15% to 17.90% APR.
• Ideal for quick, short-term projects
• Easy to use for online or in-store purchases

Things to consider: Most bank credit cards typically have higher interest rates, increasing the overall cost of your project if not paid off quickly.

 

Large Purchases (Up to $50,000)

Examples: Debt consolidation, home improvement, unexpected expenses, and other large purchases.

Recommended Option: Raiz Personal Loan

A personal loan gives you a lump sum up front with a fixed interest rate, so you know exactly what your monthly payments will be.

• Loan amount: Up to $50,000
• Terms: Up to 84 months
• Rate discount: 0.25% when using Auto Pay from a Raiz account
• Rates starting at: 10.49% APR

Why it works:

• No collateral needed
• Steady monthly payments
• Fast approvals to get your project moving

Things to consider: Personal loans work best for homeowners with decent credit and defined project plans.

 

Large Home Improvement Projects (Up to $50,000)

Examples: Kitchen remodel, HVAC system replacement, backyard landscaping, solar panels.

Recommended Option: Raiz Home Improvement Loan

This loan is our signature option for big home projects. It offers the flexibility and peace of mind you need when investing more into your space.

• Loan amount: Up to $50,000
• Terms: Up to 120 months
• Rate discount: 0.50% when using direct deposit and Auto Pay from a Raiz account
• Rates starting at: 12.74% APR

Why it works:

• Fixed interest and longer repayment terms
• Designed specifically for home improvement
• No need to use your home as collateral

Things to consider: Best for those who want a dedicated loan with a longer payoff period.

 

Extra-Large Projects or Improvements Based on Equity

Examples: Whole-home renovations, new roof, room additions, pools, major structural upgrades, debt consolidation, medical expenses, and other major purchases.

Recommended Option: Raiz Home Equity Loan

If you’ve built up equity in your home, you may qualify for a loan using that value.

• Loan amount: Borrow up to 80% of the equity of your home
• Terms: up to 240 months
• Rates: Based on your creditworthiness

Why it works:

• Often lower interest rates and longer terms
• Higher borrowing power

Things to consider: These loans take a little more time, fees, and paperwork. Your home is used as collateral, so it’s important to borrow wisely.

 

Comparison Snapshot

 

Questions to Ask Before You Choose

• What’s your total budget for the project?
• Do you need the money quickly?
• Are you hoping for shorter or longer repayment?
• Are you comfortable using your home as collateral?
• Can you afford the monthly payment?

Your answers can help guide your decision and we’re here to help you figure it out.

 

Let’s Build Something Great Together

Every home project is a chance to invest in your space, comfort, and future. Whether replacing tiles or reimagining your kitchen, Raiz is here to support your vision.

Questions? Call us at 915-455-2873, visit www.raiz.us, or visit a branch to talk with a Member Service Representative today.

Let’s get building!

 

Disclaimers

Must meet member eligibility requirements. All loans are subject to credit approval. Not all applicants may qualify. Federally insured by the NCUA. Equal Housing Lender.

¹Introductory rate of 6.90% APR is valid for six billing cycles on new purchases, after that your APR will be between 9.15% and 17.90% based on your creditworthiness. This offer is for new credit card accounts only. All loans are subject to credit approval. Not all applicants may qualify. Application and Solicitation Disclosure.

²Loan Example: A loan amount of $20,000 at 14.24% APR for 84 months results in approximately 84 monthly payments of $377.46. A 0.25% rate discount is available when automatic payments are set up and linked to a Raiz account. If automatic payments are canceled, your rate will return to its contracted rate.

³Loan Example: A loan amount of $30,000 at 13.24% APR for 120 months results in
approximately 120 monthly payments of $452.19. A 0.50% rate discount is available when both direct deposit and automatic payments are set up and linked to a Raiz account. If direct deposit or automatic payments are canceled, your rate will return to its contracted rate.

⁴The property must be located in Texas. Certain fees and conditions apply. A 0.25% rate discount is available when both direct deposit and automatic payments are set up and linked to a Raiz account. If direct deposit or automatic payments are canceled, your rate will return to its contracted rate. Contact a mortgage loan officer for complete details.