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House renovation loan

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Monthly repayment from


Example interest rate

9.20 %

Comparison rate*

10.58 %

Total charges


Total repayments


Disclaimer: This calculator provides an estimate only and a comparison rate based on the example information provided. Other fees, costs and charges are not included. This calculation is not an offer for credit. The amount you can borrow may vary once you complete a loan application and all the details relevant to our lending criteria are captured and verified. The interest rate for this product is variable and subject to change. Any calculations made by you using this calculator is intended as a guide only.

House renovation loan

A house renovation loan could be just what you need to turn your house into your dream home. From a bathroom remodel or a kitchen home improvement to a new carport or a landscaped garden, there are many renovation possibilities, both large and small. Though home renovations in Australia can be expensive, they can make a significant difference to your life and create a place that you’ll love coming home to. If your family has grown in size, doing renovations can mean you won’t need to move house.

Or, if you are thinking about selling your property, home improvements have the potential to add value to your home and may mean you get a higher sales price than otherwise. Whatever your reasons are for doing home renovations, if you can’t afford to pay for them upfront, you’ll need to weigh up the different options for financing home improvements. Whether you refinance with home improvement loans, take out a renovation mortgage or apply for a personal loan for renovation, there are several ways of borrowing money for renovations.

How is the loan amount calculated?

Before applying for a house renovation loan, you’ll need to calculate your renovation costs so you can work out how much money you need to borrow. A good way of doing this is by putting together a detailed budget. Whether it’s for kitchen renovation costs, bathroom renovation costs or any other home improvement, there are many different costs to consider. From plumbing, electricity and labour costs to raw materials, new appliances, insurance and more, there are many costs to consider when doing home renovations. If you are doing major renovations, you may even need to move out, so you’ll need to consider accommodation costs, too. You can start gathering up quotes and prioritising work. If you are on a strict budget, you may want to do the work in instalments, rather than doing every room at once. Inevitably, there could be unexpected expenses along the way, so it’s worth putting a buffer in your budget to cover any unforeseen costs or price increases. Once you’ve worked out how much money you’d like to borrow, you’re ready to look at the best options for borrowing money for renovations.

One alternative is to take out an unsecured house renovation loan. This will allow you to borrow a lump sum that will then need to be paid back in regular instalments over the term of the property renovation loan. This gives you flexibility on what you spend your money on. Banks and lenders will use different criteria to determine how much money they can lend you, and this will vary between money lenders. Being a responsible lender, when assessing how much money you will be able to borrow, MoneyMe looks at your credit history, employment, and any outstanding debt. We don’t want to lend you more.

money than you can comfortably afford to pay back. We also provide a free personal loan calculator on our website (or you can also access it via your mobile phone) to help you. All you need to do is enter how much money you’d like to borrow for your house renovation, your preferred loan term and a quick description of your credit history. We’ll give you an estimate of your interest rate, repayments, establishment fees and any other ongoing fees so you can work out whether you think it will be affordable before you apply for your loan for house renovations. Suppose you like certainty and predictability with our fixed interest rate home renovation loans. In that case, the monthly repayments will remain the same throughout the duration of the loan, which can make budgeting easier. Once you’ve found a house renovation loan amount and loan term that you think will work for you, you’re ready to apply online.

How to apply for a house renovation loan?

If you decide to apply for a house renovation loan, the application process and eligibility criteria will depend on who you are getting your home improvement loans through. Chances are, once you’ve decided your home could do with some renovating, you’ll probably want to get started sooner rather than later. If you are looking for a hassle-free personal loan without a lot of paperwork, MoneyMe offers unsecured personal loans up to $50,000. And the best part is you can apply online in as little as 5 minutes, and with our proprietary loan management platform that assesses financial and social touchpoints in real-time, we can let you know whether your loan has been approved very quickly. Once you have agreed to the loan terms with our same-day transfers, depending on who you bank with, the extra funds could be in your account before you know it. Once you’ve got your house renovation finances sorted, it’s time to get started!

We all know that home renovation projects are nowhere near cheap, but with a MoneyMe personal loan, you can get the same-day funds you need to start your bathroom renovation, kitchen upgrade or front yard landscaping in no time. MoneyMe is the official finance partner of the renovation TV show on 7two called DVine Living. Hosted by Dale Vine, this show features some of the best home reno tips and DIY ideas that you can try out on your home. Be sure to visit the DVine Living page and tune in on every episode to get more ideas on how a personal loan can help you with your next home improvement project.

Our customers

House renovation loan

Fast, fair and easy. Very happy customer. Happy to get another loan in the future from MONEYME.

Simple process, easy to follow application, quick response time and good support.

I was impressed with how easy and quick the application was. Very happy with their customer service, and the app is very convenient.


Review Stars Out of 2,701 reviews

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Transparent and
simple pricing

Interest rate

9.20 %
to 25.20 %

Comparison rate*

10.58 %
to 26.58 %

Establishment fee
(Direct applications)

$395 for loans between $5,000 and $15,000

$495 for loans between $15,001 and $50,000

Monthly fee


Loan terms

Minimum 3 years

Maximum 5 years

Early exit fees


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