While Goldman Sachs has largely stayed out of the mortgage market since the financial crisis in 2008 (and their settlement with the government in 2016), they’ll once again be offering a loan for homeowners, thought it might not be what you think. In a boon to homeowners everywhere, Marcus by Goldman Sachs now offers home improvement loans. These are personal unsecured fixed rate loans with no fees. It has been difficult in the past for homeowners to get loans for home improvement that offered these terms, so this comes as a relief to anyone embarking on a home improvement or home repair project.
Marcus is Goldman Sach’s online lender that specialize in personal loans and other financial tools for individuals. By offering a simple application along with removing barriers like a home appraisal, this loan offers a wide variety of distinct advantages in comparison to a lot of home improvement loans offered by other financial institutions.
But what does this mean for you if you were planning a home improvement project in the near future? That largely depends on the scope of your project and how many resources you have to pour into it. If you were already planning to take out a loan for your project, this loan might offer a good alternative to whatever loan you were considering before. Be sure to budget out your home improvement project before taking out a loan or beginning your project since you need to know exactly how much you’ll be spending so you can make the best financial decisions possible.