Home Improvement Loans

Maintain and Improve Your Home

TRP’s Home Improvement Loan Program allows homeowners throughout Cook County to borrow up to $30,000 at a 4% fixed interest rate for home repairs, home improvements, and energy efficiency-related upgrades.

Home Improvement loan general overview

• Home improvement loans up to $30,000
• Low interest rate of 4%
• Estimated APR 4.459%
• Financed up to 15 years (dependent on ability to repay), resulting in low monthly payments
• No equity needed
• Credit scores of 620 and above
• Appraisals not typically required
• Property must be primary residence

Use our Home Improvement Loan for Any Home Renovation Project or Energy-Efficient Repairs

 General Home Improvements

• New kitchen
• New roof
• New siding
• Central air-conditioning, etc.

Energy Efficiency Improvements

• Comprehensive air sealing
• Installing new or increasing insulation
• Updating to a more efficient furnace or boiler

Home Safety Improvements

• Correcting dangerous electrical problems
• Updating hazardous heating systems

Vintage Home Improvements

• Masonry re-pointing and repair
• Restoring original wood windows
• Repairing decorative metal cornices

When you decide to move forward with a home improvement loan, you will need to provide the following documents:        

• Proof of income for all members who reside in the household. This should include:

• 2 months of recent pay stubs
• If Self-Employed, provide 2-year tax returns and Year-to-date profit and losses
• If income is received from retirement, provide most recent award letter to document your retirement income
• Benefit letter for SSI, Social Security, pension, unemployment, disability, etc.
• If a household member does not have any income, including workers compensation, unemployment, etc., please submit a signed and dated written statement from that person attesting that they do not have any income.
• If a household member is a full-time student over the age of 18, please provide a current semester course schedule showing name and number of credits being taken.

• Copy of Federal Tax Returns from the last 2 years. If you do not file Federal Tax Returns, please submit a signed and dated written statement attesting that you do not file.
• Bank Statements from the last 3 months
• Copy of picture I.D. (e.g., driver’s license)
• Copy of declarations page of your homeowner’s insurance policy stating current policy period, amount of coverage, and listing of all mortgages against the property
• Copy of the recorded deed to your home with legal description attached (Schedule A)
• At the time of loan application, we will need a copy of at least one of the following: Contractor’s Bid, invoices or estimates of work to be completed.

We also offer standard Purchase and Refinancing options.

Click here for more information.

Call us at 312-666-1323 for more information or to get started.

TRP Lending, LLC
1805 S. Paulina St.
Chicago, IL 60608
NMLS# 1434425

All loans are originated by TRP Lending, LLC, an Illinois Mortgage Licensee #MB.6761143.