Most forms of home improvement financing consist of some sort of home loan which requires you to pay back the loan amount as well as a certain amount of interest. If your home improvement project needed $5,000 worth of financing you may have to pay it back over a year and would actually end up paying back $5,500 or more to the bank or home improvement lending institution.

That’s how a home improvement finance company makes money: it charges you interest!

However, there’s a way you can often get home improvement financing with no interest at for a limited time as long as your current credit rating is pretty good. The secret is to use a credit card offered by Lowe’s or The Home Depot or some other large hardware chain..

Large hardware stores want you to buy their products for your home improvement projects so they’re willing to offer you a break on home improvement financing that you might not otherwise get from a loan company or bank.

Many times they will offer you a line of credit with absolutely no interest charged for the first year that the loan is open. The key to this is that you pretty much have to buy everything at once and if you’re going to purchase any home improvement services then you’ll have to finance them through the hardware store’s credit card. This means you may not get the absolutely best deal on some contractor services but you may still save money with the no interest home improvement financing.

If you choose to finance your home improvement project this way then remember that you’ll still have to pay back the loan and you’ll only have a certain amount of time to do it before interest starts being charged. Sometimes the interest for home improvement financing through a store credit card can be high if you’re not careful.

Overall using a hardware store credit card to get a zero percent interest home improvement loan is a good way to finance your home improvement project as long as you have a plan to pay it off within the alloted time.