what kind of loan to take for improving home
Home equity loans. The most common type of home improvement loan is a home equity loan. This can either be a standard home equity loan or home equity line of credit (HELOC). Because they're secured by the equity in your home, they can offer low interest rates and the interest you pay is usually tax-deductible. Home equity loans are a type of second mortgage; that is, they're a home loan that's subordinate to the primary mortgage used to purchase the property.