The average interest rate to finance a kitchen remodel is between 5% and 36%, depending on the repayment terms, which vary according to your lending institution. Renovate works with reputable contractors offering competitive financing options.
Here’s an example of what a kitchen remodel loan might look like: Imagine someone undergoing a $15,000 kitchen renovation. They borrow the total amount and agree to pay it back over 24 months at a 9% interest rate. The borrower would pay about $685 a month in this representative example.
We pride ourselves on having top-notch kitchen remodeling contractors who offer remodel financing for most kitchen renovations. Here are some of the most common types of kitchen remodels:
The cost of a kitchen remodel can vary significantly depending on several factors, including the size of the kitchen, the scope of the project, the materials used, and the location. We provide a detailed cost breakdown to ensure the financing process is transparent. Here is a comprehensive overview of the national average costs:
| Small Kitchen Remodel (70 to 100 sq ft) | $10,000–$20,000 |
| Mid-size Kitchen Remodel (100 to 200 sq ft) | $20,000–$70,000 |
| Large Kitchen Remodel (200 sq ft +) | $70,000–$130,000 |
Here are the average prices for various kitchen installments:
| Item | Cost Range |
| Kitchen Cabinet Costs | $2,000–$10,600 |
| Countertop Installation Costs | $1,900–$4,400 |
| Sink Installation Cost | $220–$650 |
| Kitchen Faucet Cost | $160–$370 |
| Garbage Disposal Installation Cost | $100–$1,500 |
| Tile Backsplash Cost | $500–$1,700 |
| Tile Flooring Costs | $400–$6,500 |
| Appliance Costs | $350–$8,000 |
| Light Fixture Costs | $160–$950 |
| Plumbing Fixture Costs | $330–$1,800 |
When renovating your kitchen, here are some things you may need help with. Renovate’s financing solutions can help you tackle these common kitchen issues:
There are a few things to consider before you remodel your kitchen. Fortunately, our experienced contractors are familiar with all the essential details. Let’s take a look:
Prioritize the most significant upgrades, especially if your budget is tight. You may want to spend extra money on marble countertops (one of the more expensive options), but if financing kitchen cabinets is the main focus of your remodel, it’s best to prioritize that first.
A good rule of thumb is to allocate at least 10% of your project’s anticipated budget for the unexpected. Our contractors may consult you on how much of an additional budget they’d suggest you set aside for the unexpected.
When you remodel your kitchen, you will reduce your ecological footprint with an energy-efficient kitchen and save money in the form of lower utility bills in the long run. Here are a few areas to address:
Our contractors are committed to considering your style and what may appeal to prospective buyers. If you plan to sell the home in the next five to ten years, we will help you to make changes that appeal to you and potential buyers.
The primary benefit of kitchen remodeling financing is that you can transform your kitchen without needing upfront payments. Here are some additional benefits of kitchen remodeling loans with Renovate.com:
Our large lender network also means more financing options for homeowners with different credit profiles. We work with various credit scores, such as superprime and subprime borrowers. You may not need excellent credit to move forward with kitchen financing and your dream kitchen.
At Renovate, we work with homeowners to find a kitchen remodel contractor who can offer direct kitchen financing. All of our contractors are reputable and highly respected within the industry.
Our large lender network also means more financing options for homeowners with different credit profiles. We work with various credit scores, such as superprime and subprime borrowers. You may not need excellent credit to move forward with kitchen financing and your dream kitchen.
To start a kitchen remodel with financing, complete our form and submit your request online. With your basic personal, financial, and project information ready, you can get a headstart on your remodel. You may receive an on-screen pre-qualification offer within minutes based on the information provided.
For kitchen remodel financing options, fill out our form to try to connect with a merchant who can help you complete the financing process.
Several factors influence the cost of a kitchen remodel, including:
The better your credit score, the more likely you will receive favorable terms for a kitchen remodel loan. You may be eligible for a loan with a lower score, but it will likely come with higher interest rates.
Fill out our form to connect with a merchant to complete the financing process. If approved, a contractor will help you with your kitchen remodel goals. Get ready to build the kitchen of your dreams.
The average monthly payment for a kitchen renovation loan depends on the loan amount, interest rate, and repayment term. For example, a $20,000 loan at an interest rate of 5% over five years would have an estimated monthly payment of $377.
Check with your lender for specific details based on your loan terms, and use online calculators to estimate your payments.
