FAQs - financing

All kitchen and bathroom renovation scopes are eligible for financing through Financeit, from an entry-level countertop and backsplash update at $8,000 to a comprehensive custom kitchen renovation at $70,000 or more, and from a powder room renovation at $12,000 to a premium primary ensuite at $60,000. The $500–$100,000 range covers the full spectrum of kitchen and bathroom renovation investments in the GTA market.
Financeit uses a soft credit inquiry for the initial eligibility check and pre-approval, which does not affect your credit score. A hard inquiry may occur if you proceed to accept a formal loan offer, the standard process for any lending product. We recommend confirming the specific inquiry process with Financeit at the time of your application.
Many Financeit applications receive a fast or same-day decision. We facilitate the application at or after your renovation consultation and support you through any questions during the process. We do not want financing uncertainty to delay your project start.
Financeit loan products typically allow early repayment on qualifying plans. Review the specific terms of any loan offer and confirm early repayment provisions with Financeit before accepting if early repayment is a priority for your household.
Yes. Many clients choose to finance a portion and contribute savings for the remainder. This reduces the financed amount and total interest cost while allowing the full renovation scope to proceed now rather than waiting. We structure the financing application for whatever portion you would like to finance.
Financeit assesses applications across a range of credit profiles. We cannot guarantee approval or specific rates, those determinations are made by Financeit based on your individual application. Financeit's home improvement lending products are generally accessible to a broader range of homeowners than conventional bank lending.
Financeit loan repayment typically begins shortly after loan disbursement, which occurs when the renovation project is underway. Confirm the payment start date in your loan agreement before accepting. We recommend reviewing the full loan terms before making a final commitment.
No. All financing terms, rates, fees, and payment details are disclosed in the Financeit loan agreement before you accept. There are no costs to apply, and we do not charge any fees for facilitating the Financeit application on your behalf.
Yes. If you are renovating both your kitchen and a bathroom simultaneously or sequentially, the combined project cost can be financed through a single Financeit application up to the $100,000 maximum. Combining projects also often reduces total construction cost due to shared mobilization and project management efficiency.
We discuss options: adjusting project scope to fit the approved financing amount; combining financing with savings to cover the full scope; or phasing the renovation over two separate projects to keep individual financing amounts within the approved range. We work with every client to find an approach that moves their renovation forward within their financial parameters.