Is financing available for a home renovation?

Yes. Renovation financing is available for approved applicants, with terms that can cover up to 120 percent of the project, and applying does not require equity in the home the way a line of credit does. Approval is typically same day and the funds are drawn as the work progresses rather than in one lump. It is worth comparing against a home equity line before committing, because for a homeowner with equity the rate is often lower even though the paperwork takes longer.