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Home Improvement Loans

Use a Clearwater home improvement loan to pay for improvements and upgrades that help make your home more comfortable, energy efficient, and accessible.

Habitat for Humanity home under construction in Butte, MT.

Home Improvement Loan Options

Home Equity Loan

A Home Equity Loan is one lump sum of money you borrow based on your home’s available equity. It’s great for home improvements or upgrades, debt consolidation, or major purchases.

  • Fixed monthly payments up to a 20-year term, depending on property type
  • Available for primary or secondary homes or investment property up to 4 units
  • Interest is potentially tax deductible. Please consult your tax advisor
  • Rate discount may be available if at least 50% of improvements go toward energy efficiency or conservation, health or safety, or accessibility measures for your home
  • Manufactured homes must be on a permanent foundation and be model year 1980 or newer

Choose Your Lender

Loan terms and conditions may vary by property type, loan type, and/or income or credit qualifications. All loans are subject to approval.

Home Equity Line of Credit (HELOC)

A HELOC is a flexible, revolving line of credit that allows you to borrow against your home’s equity when you need it. It works sort of like a credit card, allowing you to borrow, repay, and borrow again during the 10–year draw period.

  • Variable rate line of credit
  • 25-year term with a 10-year draw period
  • Interest is potentially tax deductible. Please consult your tax advisor
  • Rate discount may be available if at least 50% of improvements go toward energy efficiency or conservation, health or safety, or accessibility measures for your home
  • Manufactured homes must be on a permanent foundation and be model year 1980 or newer

Choose Your Lender

Loan terms and conditions may vary by property type, loan type, and/or income or credit qualifications. All loans are subject to approval.

One-Time Close Renovation Loan

Buying a fixer-upper? Our Renovation Loan helps you finance the purchase and upgrade of your new home all in one loan.

  • For purchase or refinance of primary residence only
  • Must use a licensed contractor for structural or safety work
  • Rate discount may be available if at least 50% of improvements go toward energy efficiency or conservation, health or safety, or accessibility measures for your home.

Choose Your Lender

Loan terms and conditions may vary by property type, loan type, and/or income or credit qualifications. All loans are subject to approval.

Not Sure Which Loan is Right for You?

Our Home Loan Team can help you determine the right home loan for your unique needs, and they’ll guide you every step of the way. Contact one of our loan officers to discuss your options and take the next step toward achieving your home financing goals.

Talk to a loan officer

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Why Choose a Clearwater Home Loan?

  • Ethical, values-based home loan lender
  • Loan officers who live, work, and volunteer in your community
  • Local underwriting and servicing by people who live in and understand the Montana real estate market
  • Competitive rates and low fees
  • Flexible terms to meet your needs

Home Improvement Resources

Using Your Home Equity: What to Consider

Your home’s equity is one of the most valuable assets you own. Learn the top things to consider when borrowing against your home’s equity.
Article: 5 min read
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Home Equity Line of Credit Basics

Get the basics on what a home equity line of credit is, how it works, and how much you should or shouldn’t consider borrowing.
Article: 2 min read
Read Article

Four Steps to Save Money on Remodeling

The biggest frustration many people face when remodeling are unexpected costs. To help lower the cost of your remodel project, follow these four steps.
Article: 5 min read
Read Article