Home Insulation Financing

Can you finance home insulation?

Yes, you can. While some home insulation installers may offer a payment plan, most people look to a personal loan, credit card, or secured loan to pay for their home insulation needs.

Best home insulation loan options

LightStream

LightStream

✔ Funding: Borrow $5,000 - $100,000
✔ Minimum Credit Score: 660
✔ APR: 2.49% - 19.99%
✔ Loan term: 2 - 7 years
✔ Funding turnaround: as soon as same business day

LightStream offers up to $100k personal loans as soon as same business day without origination fees and easy to use mobile app.

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Upgrade

Upgrade

✔ Funding: Borrow $1,000 - $50,000
✔ Minimum Credit Score: 660
✔ APR: 5.94% to 35.97%
✔ Loan term: 2 - 7 years
✔ Funding turnaround: as soon as next business day

Upgrade offers borrowers with fair credit scores to obtain loans up to $50k. Joint applications are allowed. Origination fees may apply.

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Best Egg

Best Egg

✔ Funding: Borrow $2,000 - $50,000
✔ Minimum Credit Score: 640
✔ APR: 5.99 - 29.99%
✔ Loan term: 3 - 5 years
✔ Funding turnaround: 1 - 3 business days

With Best Egg personal loans, borrowers with fair to good credit can get funding for 3-5 years and have the option to use the loan for a variety of purposes.

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What are the different types of home insulation?

• Blanket Batts and Rolls - this type of insulation is designed to fit in between standard studs in walls, rafters in the attic, and joists in the floor. If your home is of standard and relatively modern construction, you can often DIY this type of insulation - with a catch - you have to be able to access beneath the floor or behind the walls. Since most attics are unfinished, doing DIY insulation is more practical. This type of insulation is often made out of fiberglass, but you can find some made out of cotton, mineral wool, or sheep’s wool, which is a lot more skin- and lung-friendly.
• Spray Foam - this is a good option for homes that are already finished but have subpar or old insulation in the walls because it can be sprayed into a small area.
• Blown-In - this is another good option for finished homes as it can be done in a few hours and there is rarely evidence left behind that anything has been done, besides better temperature control in your home.
• Foam Boards - these are very practical to install, but you have to do it when the studs are bare, before you add plasterboard.
• Reflective Barrier - this is a good option for those living where cold is very rarely an issue, but heat often is. This essentially works like those reflective barriers you can use on your car windshield to try to reduce how hot it gets.

What is the best insulation?

That really depends on your location and what you’re working with. For example, someone in south Texas might decide to invest in reflective insulation because it’s rarely cold, but it would be a waste of time for someone in Wisconsin. Spray foam and blown-in insulation are both effective forms of insulation and are easy (and fast) to have installed in your home, so for many, that will be the right choice.

How much does it cost to get my home insulation done?

Most homes cost between $3,000 and $10,000. You can work out the likely price range for your home by square foot: insulation usually costs $1.50 to $5 per square foot.

What is the best way to finance home insulation?

• Personal Loan: a personal loan is usually the most straightforward way to borrow. You apply to a lender for a lump sum and they deposit it into your bank account for you to use as you see fit - in this case, your home insulation. Interest rates are usually relatively low (especially for those with excellent credit) and you can spread the cost over a term of 2-5 years (though other terms are available).
• In-House Financing: Some home insulation companies may offer in-house financing, often through a partner lender. This can be a good choice if they offer a 0% APR promotional period, but they are essentially personal loans, so make sure you compare what they offer with what you could get through an external lender.
• Credit Card: If your home insulation is going to cost around the lower end of the scale, a credit card may be able to cover the cost. While credit card interest rates are generally high, this is a good opportunity to take advantage of rewards cards or 0% APR cards, if you have good or excellent credit. Just make sure you are dedicated to paying it off during the introductory period.
• HELOC: A Home Equity Line of Credit is where you get a line of credit (like a credit card) from a lender secured on the equity you have in your home. This allows you to only pay interest on what you borrow, so may be a good choice if you’re also going to be doing other home improvement projects.
• Home Equity Loan: A home equity loan is essentially a second mortgage - it’s a loan secured by the equity in your home. This is a good way to get a low-interest rate, but for solely the cost of insulation, you may find it is a risky way to borrow.
• Cash-Out Refinance: This is another term for mortgage-refinancing, where you get a new mortgage for more than your old one so you can use the additional money to pay for your home insulation. If you are solely going to be paying for your insulation and the costs are under $10,000, this may not be a good option for you unless you already need to refinance your mortgage.
• 401(k) Loan: Some 401(k) plans allow you to borrow from your retirement account over a term of 5 years. This is a good option if you don’t have good credit, because no credit check is required, and there’s no interest to pay. You should do your research and make sure this makes sense for your retirement plans, as there are often restrictions placed on your account until the loan is paid back.