Homeowner Express Loan

Borrowing limits apply to unsecured loans: $700 or lower loan amount cannot exceed 37 months and $700.01-$1,400 loan amount cannot exceed 49 months.

Frequently Asked Questions

What is Royal’s Homeowner Express loan?
Royal's Homeowner Express loan helps homeowners get funds for home improvement projects like a new roof, furnace, flooring, furniture, driveway, and more. It offers fixed rates with no collateral required, so you don't need to borrow against your home's equity. It's a simple, fast way to finance improvements to your home.

How much can I borrow with a Homeowner Express loan?
Royal’s Homeowner Express loans are limited to a maximum amount of $20,000 and a maximum loan term of 5 years.

Are Royal’s Homeowner Express loan rates fixed or variable?
Homeowner Express Loan rates are fixed, eliminating the risk of a payment increase due to market changes. Your monthly payment will remain the same for the life of the loan which makes budgeting for your home improvement project predictable and straightforward.

How fast can I get approved for a Homeowner Express loan?
Because of simpler borrowing rules, most Homeowner Express loan applications will receive fast, same-day decisions and have approved funds deposited to your account as soon as the next business day. This makes it one of Royal's fastest loan options for homeowners.

Who qualifies for Royal’s Homeowner Express loan?
You must be a homeowner or pay lot rent on a mobile home to qualify. Rates are determined by credit score, and the loan is subject to credit approval. Royal Credit Union Membership is also required upon qualification. 

How is the Homeowner Express loan different from a home equity line of credit?
Royal’s Homeowner Express loan does not require collateral, so you don't need to borrow against your home's equity. It offers a fixed rate and a maximum loan amount of $20,000 with terms up to 5 years. Royal’s home equity line of credit uses your home as collateral, typically allowing you to borrow larger amounts, and usually has a variable rate. The Homeowner Express loan is ideal for smaller projects where you want a fast decision and a predictable payment without tapping into your home's equity.