HELOC, home equity loans, personal loans, and contractor financing — your options explained clearly so you can make the decision that fits your situation.
A kitchen remodel in Prescott typically runs $25,000–$65,000. A full master bath transformation runs $20,000–$65,000. For most homeowners, that's not a check you write out of savings — and you shouldn't have to. There are several financing routes available for home improvement projects, each with different rates, timelines, and qualification requirements.
Infinity Kitchen and Bath is not a lender, and we don't markup our prices to cover financing costs. What we can do is explain the options clearly, help you understand what each involves, and connect you with lending partners we've worked with. This page is our honest, no-marketing-fluff guide to the most common ways Prescott homeowners finance kitchen and bathroom remodels.
The best financing option depends on how much equity you have in your home, your credit profile, how quickly you need to start, and whether you prefer predictable payments or maximum flexibility. Read through the options below, then call or text us — we're happy to discuss what makes sense for your specific project and financial picture.
| Option | Best Rate? | Equity Needed? | Speed |
|---|---|---|---|
| HELOC | ★ Best | Yes | 2–6 weeks |
| Home Equity Loan | ★ Low | Yes | 2–6 weeks |
| Personal Loan | Moderate | No | 1–7 days |
| Cash-Out Refi | ★ Low | Yes | 4–8 weeks |
| FHA 203(k) | ★ Low | No | 45–90 days |
A HELOC is a revolving line of credit secured by the equity in your home. It works like a credit card — you draw what you need, when you need it, and pay interest only on the amount drawn. Interest rates are typically variable and tied to the prime rate, but they're usually among the lowest available for home improvement financing because your home is the collateral.
For a phased remodel — kitchen now, bathrooms next year — a HELOC is often the ideal tool. You open the line once, draw for the kitchen project, pay it down, then draw again for the next phase without applying for a new loan. Most Arizona lenders will approve a HELOC in two to six weeks. You'll generally need at least 20% equity in your home and a credit score of 620 or higher, though better rates start at 700+. The primary risk is that the rate is variable — if rates rise, your payment rises. This option is generally recommended for homeowners with meaningful equity and stable income.
A home equity loan gives you a lump sum at a fixed interest rate, repaid over a set term — typically 5 to 20 years. Unlike a HELOC, the rate is locked at closing, so your monthly payment doesn't change. This predictability is valuable when you're budgeting a large, single-phase project like a complete kitchen overhaul or a master bath transformation.
The trade-off: you borrow the full amount upfront, even if the project spans several months and you don't need all the cash immediately. Rates are typically slightly higher than HELOC draw rates but are fixed. Qualification requirements are similar: meaningful home equity, stable income, and a credit score of 620+. Home equity loans are best for homeowners who know their exact project cost, want payment certainty, and prefer not to manage a revolving line of credit.
Personal loans for home improvement are unsecured — your home is not collateral. That means approval is faster (sometimes same-day through online lenders), and you don't need significant equity. The trade-off is higher interest rates: typically 8–25% APR depending on your credit, compared to 6–9% for equity-secured products. For a $25,000–$40,000 remodel, the rate difference can add up over a 5–10 year term.
Personal loans make the most sense when you've owned your home less than five years and haven't built significant equity, or when you want to avoid putting your home up as collateral. They're also useful for smaller projects ($15,000–$25,000) where the rate premium is less significant in absolute dollars. Shop multiple lenders — rates and terms vary widely. Credit unions serving Yavapai County often offer competitive home improvement loan products for members.
A cash-out refinance replaces your existing mortgage with a new, larger mortgage and gives you the difference in cash. If you owe $200,000 on a home worth $350,000, you could refinance to a $260,000 mortgage and receive $60,000 in cash for renovations. The benefit: you pay mortgage rates on the remodel funds, which are the lowest available. The downside: you restart your mortgage term, pay closing costs (typically $3,000–$7,000), and extend the timeline significantly (4–8 weeks to close).
Cash-out refinancing made the most sense during the 2020–2021 period of historically low rates. For homeowners who locked in sub-3% rates, using a cash-out refi today at current rates may not be financially optimal — you'd be repricing your entire mortgage balance at a higher rate. This option warrants a careful conversation with your lender about the long-term cost impact before proceeding.
The FHA 203(k) is a government-backed mortgage that bundles home purchase and renovation costs into a single loan. It's primarily used when buying a fixer-upper property — you finance the purchase price plus the estimated renovation costs in one loan, and the contractor is paid directly from the loan escrow as work progresses. For existing homeowners, there's a limited version (Standard vs. Streamline) that can fund renovation work.
The FHA 203(k) has lower down payment requirements and is accessible to borrowers with credit scores as low as 580. The drawback is complexity and time — the program requires a HUD-approved consultant, specific contractor documentation, a lengthy underwriting process (45–90 days minimum), and work must meet FHA requirements. It's a powerful tool in the right circumstances, but for a straightforward kitchen or bathroom remodel on an already-owned Prescott home, simpler options are usually faster and less restrictive.
Infinity Kitchen and Bath works with third-party home improvement lending partners to offer financing directly through our company for qualified applicants. This means you can get approved and start your project without a separate trip to a bank or credit union.
Our lending partners offer fixed-rate installment loans for home improvement projects typically ranging from $5,000 to $100,000, with terms of 24 to 144 months. Rates vary based on credit profile and loan amount. Same-day decisions are available in many cases. This is not in-house financing — we connect you with the lender and you deal directly with them for the life of the loan.
Ask about financing options during your free consultation. We'll provide you with information on current programs, and you can apply with no impact to your credit score during the initial check. If you're approved, you can start your project immediately — no waiting on a bank's appraisal or underwriting timeline.
The first step to financing any remodel is knowing the real number. Schedule your free consultation and we'll give you a detailed, itemized quote — so you can approach a lender with a real project cost, not a guess.