Compare Home Renovation Loans from 50+ Australian Lenders
Upgrade kitchens, bathrooms, extensions and outdoor spaces with clear, fixed repayments tailored to your budget.
5.0 rating
Refresh, Extend, Improve
Finance upgrades with fast decisions, fair terms and repayments that fit your cash flow.
Borrowing Range
Typical amounts $5,000 to $75,000+
Fixed Repayments
1 to 7 year terms for certainty
Fast Approvals
Same-day outcomes possible for complete files
Secured or Unsecured
Sharper rates with security; flexible with unsecured
Direct-to-Supplier
Optional payments to builders or vendors at settlement
Green Upgrades Ready
Solar, insulation, efficient HVAC and windows eligible
How it works
We match your profile to lenders that fund home improvements—so projects can start sooner.
Apply online in 3 minutes
Share your plans, quotes and budget. No lengthy forms.
See matched options
Compare secured vs unsecured, terms, rates and fees side by side.
Upload documents
Provide ID, income evidence and bank statements for assessment.
Settle & pay trades
Funds to you or direct to builders/suppliers so work can begin.
Backed by over 50+ lenders
Giving you the best chance of being approved.
A quick guide to home renovation loans
Home renovation loans are personal loans used to fund upgrades and repairs—like kitchens, bathrooms, landscaping, roofing, extensions and energy-efficiency improvements. They spread project costs into predictable repayments, helping you avoid draining savings or juggling multiple credit cards.
You can choose unsecured for speed and flexibility, or secured (e.g., against a car) for sharper pricing or higher limits. Comparing offers—and checking the comparison rate—helps you understand total cost. Align the term to your project timeline and expected value uplift for a smart balance of cash flow and cost.
Want to skip ahead?
Jump to the section that best fits your project.
Types of home renovation loans
Pick a structure that suits your project scope and budget:
Unsecured Personal Loan
A personal loan that doesn't require collateral, based on your creditworthiness and ability to repay, offering flexibility for various purposes.
Pros
- No collateral required - no risk to personal assets
- Quick approval and funding process
- Flexible use of funds for any purpose
Cons
- Higher interest rates than secured loans
- Stricter credit requirements
- Lower maximum loan amounts available
Best For
People who need flexible funding for any purpose without risking their assets. Ideal for debt consolidation, home improvements, holidays, and old or exotic vehicles.
Secured Personal Loan
A personal loan secured against an asset offering lower rates than unsecured options. Use the funds for any purpose while benefiting from competitive secured rates.
Pros
- Lower interest rates due to asset security
- Higher loan amounts available
- Flexible use of funds for any purpose
- Longer repayment terms possible
Cons
- Asset serves as security - risk of loss
- Comprehensive insurance may be required
- Longer approval process due to security valuation
- Asset restrictions during loan term
Best For
Borrowers with valuable assets who want lower rates for debt consolidation, home improvements, or major purchases while keeping costs down.
Fixed Rate Personal Loan
An unsecured personal loan with fixed interest rate providing predictable monthly payments. Perfect for consolidating debt or funding personal goals.
Pros
- Fixed interest rate provides payment certainty
- No assets required as security
- Predictable budgeting with set repayments
- Quick approval and funding process
Cons
- Higher rates than secured loan options
- Stricter credit requirements than variable loans
- Cannot benefit from interest rate decreases
- Lower maximum amounts than secured loans
Best For
Borrowers who want payment certainty and protection against rate rises for debt consolidation, home improvements, or planned expenses.
Variable Rate Personal Loan
An unsecured personal loan with variable interest rates that can fluctuate with market conditions. Potentially benefit from rate decreases on your personal financing.
Pros
- Can benefit from interest rate decreases
- Often lower initial rates than fixed loans
- More flexible loan features available
- No assets required as security
Cons
- Monthly payments can increase with rising rates
- Uncertainty in budgeting due to rate fluctuations
- Higher rates than secured loan alternatives
- Risk of significant payment increases
Best For
Borrowers comfortable with payment variability who want to benefit from potential rate decreases without putting assets at risk.
What can I use a renovation loan for?
Renovation loans can fund essential repairs and value-adding upgrades across your home:
Kitchen Remodels
Cabinetry, benchtops, appliances and layout changes to modernise your most-used space and improve resale appeal.
Bathroom Upgrades
New tiling, fixtures, waterproofing and ventilation to refresh older bathrooms and add value.
Roofing & Structural Repairs
Fix leaks, replace roofing or address foundational issues before they become bigger problems.
Extensions & Conversions
Add a bedroom or convert an attic/garage to gain liveable space without moving.
Outdoor & Landscaping
Decks, pergolas, fencing and landscaping to lift street appeal and everyday enjoyment.
Energy-Efficiency Upgrades
Solar panels, battery, double glazing, insulation and efficient HVAC to cut bills and boost comfort.
Major Repairs & Remediation
Address water damage, mould remediation or electrical rewiring for safety and compliance.
Pools & Entertaining Areas
Install a pool or upgrade outdoor kitchens and paving for year-round entertaining.
Case Study
Sofia & Marco
Kitchen upgrade without the cash squeeze
Challenge: Needed to replace an outdated kitchen and fix a leaking roof.
Solution: Unsecured renovation loan over 5 years with direct-to-supplier payments.
A family in Melbourne wanted a modern kitchen but also had urgent roof repairs. Through Emu Money they compared options and chose an unsecured renovation loan with a fixed rate and no monthly fee. Funds were split—some paid directly to the roofing contractor and the rest for cabinetry and appliances—leaving one predictable repayment and a clear end date.
How much can I borrow with a renovation loan?
Typical loan sizes range from $5,000 to $75,000+, depending on project scope, income stability and overall commitments. Secured options can unlock higher limits and sharper pricing; unsecured options prioritise speed and flexibility. Lenders review quotes and recent bank-statement conduct to size the facility sensibly so repayments remain manageable.
Home Renovation Loan Repayment Calculator
Estimate repayments and total cost. Adjust the amount, term and rate to plan your project before you apply.
Balance over time
Am I eligible for a renovation loan?
Eligibility centres on affordability, income stability and a clear project plan with quotes or invoices. Stronger profiles or secured options can access sharper pricing and higher limits.
You may be eligible if you are:
An Australian resident aged 18+
Employed, self-employed or receiving acceptable income
Able to show serviceability via bank statements
Meeting minimum credit criteria (score/history)
Borrowing for bona fide home improvement purposes
How to apply for a renovation loan?
Complete a quick online application and upload documents. We’ll compare offers across secured vs unsecured and coordinate settlement—either to your account or directly to trades and suppliers.
Documents you may need:
Photo ID (driver’s licence or passport)
Recent bank statements (3–6 months)
Payslips or income verification
Quotes or invoices from builders/suppliers
Asset details if offering security
How to save money on a renovation loan
Compare rate and fees—use the comparison rate for true cost. Stage your project where possible so you only borrow what you need, when you need it. Shorter terms reduce total interest, while longer terms ease monthly cash flow. Consider secured options if you’re comfortable offering collateral for sharper pricing, and check early-repayment policies so you can pay it down faster without penalty.
Example: Term impact — $40,000 at 10.99% p.a. (approx.):
| Term | Approx. Monthly Repayment | Total Interest (approx.) |
|---|---|---|
3 years (36 mths) | $1,308 | $7,088 |
5 years (60 mths) | $869 | $12,140 |
7 years (84 mths) | $689 | $18,888 |
Understanding renovation loan options
Structure and features affect price, flexibility and project control. Key options include:
Secured vs Unsecured Loans
Secured loans (often against a car) may allow larger limits and lower rates but put the asset at risk if repayments are missed. Unsecured loans are faster and flexible, usually at higher rates.
Fixed vs Variable Rates
Fixed rates lock in predictable repayments; variable rates can move with the market and may save money if rates fall—but could rise.
Direct-to-Supplier Payments
Pay builders or vendors at settlement to secure materials and lock in work schedules, ensuring funds are used as intended.
Staged Drawdowns
For multi-phase projects, staged drawdowns let you access funds in steps, reducing interest on unused amounts.
Early Repayment Flexibility
Look for extra repayments and early payout with low or no penalty so you can clear the balance sooner and save on interest.
Rate-for-Risk Pricing
Sharper pricing goes to stronger profiles. Improving bank-statement conduct and reducing other debts before applying can help.
Testimonials
Verified Review
Robyn was very professional in her mannerism in organising us our loan . Robyn was always polite .. She kept us up to date and informed on the development of our loan even after hours as it was hard for us to speak to her during work hours . Very helpful when your not tec savy I would highly recommend Robyn to anyone needing to deal with Emu Loans and will definitely recommend her to friends and family . Keep up the great work Robyn You are a true inspiration to you job Karen Grimston
karen c.
Verified Review
Robyn has been brilliant to work with. Made everything easy from the start and explained the details of the loan in depth before submitting the application. Called Robyn Monday morning to discuss possible loan for car and drove my new car home Thursday afternoon with a finance rate better than what the car dealer was offering. Would highly recommend Robyn and emu money for future loans
Patrick B.
Verified Review
It's nice, quick and easy to get a new equipments through Emu Money. Big thanks to Brad for his great assistance.
Marvin Y.
Verified Review
Incredibly seamless experience! Highly recommend
Tracy W.
Verified Review
I found Erin through facebook and I would recommend her to everyone she's professional, Erin was very knowledgeable about different lander's and helped me secure a great rate for my car loan, Erin was always available to answer my questions and kept me updated throughout the entire process and she's honest and reliable I would give her more than 5 stars if I could I highly recommend Erin
Nasratullah
Verified Review
Emu money is fast and reliable Thanks Ryan for your help Highly recommended for your finance needs
Nabi S.
Frequently Asked Questions
Home Renovation Loan FAQs
These helpful FAQs will help you find the answers you need. If you can't find what you're looking for, you can request a callback below.
