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This may be a good choice if you want to keep away from using your home to secure a mortgage. When you’re accredited for a house improvement loan, you receive all funds upfront, which you can then use to make your renovations. As soon as funds are disbursed, you’ll enter the compensation term, which may last anyplace from one to 15 years. During this time, you will make regular fixed funds on the mortgage, paying again the principal plus curiosity. …