KeyBank Home Improvement Loan
Fixed-rate, no-collateral loan for home updates and repairs.
Whether it’s for a new roof, replacing the furnace or that dream kitchen, a KeyBank home improvement loan can provide you the funds you need. Use this quick and simple loan to fix up your home, without using your home’s equity or credit cards.
Overview
| Interest Rate | Fixed interest rate |
|---|---|
| Loan Amount |
Starting at $5,000 |
| Term | Up to 84 months1 |
| Flexible Payment Options |
Yes |
| Origination Fee | $0 |
| Collateral Needed |
No |
| Manage in Online Banking |
Yes |
Features
- Competitive interest rates
- Flexible terms up to 84 months1
- Funds can be available as soon as the same day2
- No equity, collateral, home appraisal, or third-party inspections needed
- No origination fee
- Sign your loan documents easily and securely online with E-Sign3
- Manage your loan in online and mobile banking
The APRs assume use of the bank’s optional automatic payment deduction plan from a KeyBank checking or savings account at time of account origination. Add 0.25% to the stated rate when an automatic deduction plan is not established from a KeyBank checking or savings account. Normal checking or savings account service charges apply. Please refer to specific account disclosures for details. The actual rate and payment amount may vary, and is determined by the product, term, loan amount, and your credit qualifications. If the loan is paid off in the first 18 months, there will be a $150.00 penalty fee assessed unless the loan term is 18 months or less. For loan terms greater than 60 months, you must meet additional credit requirements and KeyBank will add 0.25% to the stated APR.
As an example, if you were to borrow $25,000 for 60 months and qualify for Key's as-low-as rate of 7.6% APR (as of 9/21/2021), your monthly payment would be $502.14. The APR may vary based on the state of residence. The 7.6% APR is a market average APR charged by KeyBank across Key's footprint (OH, IN, MI, PA, NY, MA, CT, VT, ME, CO, ID, UT, WA, OR, AK) and includes a 0.25% discount for electing to have the monthly payment automatically deducted from a KeyBank checking or savings account.
To qualify for the "as low as" APR: 1) the term of the loan must be between 12-60 months; 2) the loan amount must be $25,000 or greater; 3) you must have an excellent credit profile, including a minimum FICO score of 780 or higher; and 4) automatic payment deductions from a KeyBank checking or savings account must be established. Rates are accurate as of 9/13/21.
Funds may be available as fast as same business day of application under the following conditions: (1) certain underwriting criteria are met including, but not limited to, credit score; (2) loan funding does not require third-party payoff(s); (3) funds are deposited directly into a KeyBank account; and (4) complete loan signing by 2:00 p.m. ET on a day that the bank is open for business. Income verification may be required, which may delay availability of funds. Additional conditions may apply. All credit products are subject to credit approval and other program terms.
E-Sign is only available for applications submitted at a KeyBank branch. E-Sign is not available for online applications.
All credit products are subject to credit approval.
To apply, you must:
- Be 18 years of age or older
- Live within the following states: AK, CO, CT, ID, IN, MA, ME, MI, NY, OH, OR, PA, UT, VT, or WA
- Agree to provide additional personal and business information, if requested, such as tax returns and financial statements
- Certify that all information submitted in the application is true and correct
- Authorize the bank and/or a credit bureau to investigate the information on the application
