Cash Kitchen Loans Reviews: Everything You Need to Know Before Applying

Kitchen remodels are one of the most popular home improvement projects. A renovated kitchen can significantly increase your home’s value and make the space more functional and aesthetically pleasing. However, kitchen remodels also tend to be very expensive, with the average cost ranging from $10,000 to $35,000. As a result, many homeowners turn to loans to finance their kitchen overhaul.

Cash Kitchen is one lending company that provides loans specifically for kitchen remodels. In this article we will provide an in-depth look at Cash Kitchen loans including key information on interest rates, loan terms, eligibility requirements, and more. We’ll also summarize customer reviews of Cash Kitchen to help you determine if their loans are the right financing option for your kitchen remodel.

Overview of Cash Kitchen Loans

Cash Kitchen offers personal loans ranging from $1,000 to $50,000 for kitchen remodeling projects Here are some key details about their loan products

• Interest rates from 5.99% to 35.99% APR

• Loan terms of 2 to 5 years

• No prepayment penalties

• Funds delivered in as little as 24 hours

• Online application and fast approval process

• No home equity required

• Loans can be used for cabinetry, countertops, appliances, flooring, plumbing, lighting, and more

To qualify for a Cash Kitchen loan, you’ll need a minimum credit score of 580 and stable income. The company allows co-applicants to apply together to meet the income requirements.

Cash Kitchen Loan Reviews from Customers

We analyzed numerous customer reviews of Cash Kitchen loans across the web. Here is an overview of the feedback on their loan products and services:

Positive Reviews

• Quick and easy application process

• Received funds very quickly after approval

• Lower interest rates than some alternatives like credit cards

• Helpful customer service

• Allowed joint applications to meet income requirements

Negative Reviews

• Interest rates are still quite high

• Short 2 to 5 year repayment terms

-Strict credit score requirements

-High origination fees

-Prepayment penalties on some loans

-Difficult to qualify if self-employed

Overall, reviews of Cash Kitchen are mixed. Many appreciate the speed and convenience of their loans. However, customers note that the interest rates are higher than other personal loan companies and the terms are relatively short.

Cash Kitchen Loan Requirements

Cash Kitchen has strict eligibility requirements you’ll need to meet to qualify for one of their loans:

• Minimum credit score of 580

• Monthly income of at least $2,500

• Debt-to-income ratio under 50%

• No recent bankruptcies or foreclosures

• Valid Social Security number

• Active checking account

If you have bad credit or a low income, you likely won’t qualify for a Cash Kitchen loan. Having a co-signer or joint applicant can improve your chances for approval.

Cash Kitchen Interest Rates and Fees

Cash Kitchen loans are more expensive than financing alternatives like home equity loans and lines of credit. Here are some of the rates and fees to expect:

• Interest rates from 5.99% to 35.99% APR

• Origination fees of 1% to 10% of the loan amount

• Late fees of 5% of the overdue payment or $50, whichever is greater

• Prepayment penalties may apply on some loans

• No application fees

The interest rates and fees you’ll pay depend on your credit history, income, and other eligibility factors. Be sure to read the fine print so you understand the total cost of the loan.

Cash Kitchen Loan Terms

Cash Kitchen offers 2 to 5 year repayment terms. Shorter terms come with higher monthly payments while longer terms have lower payments but more interest paid over time.

For a $10,000 kitchen remodel loan, here are some examples of repayment terms:

• 2 years = $449 per month

• 3 years = $321 per month

• 5 years = $204 per month

With no prepayment penalties, you can pay off your Cash Kitchen loan early to reduce the interest paid. However, some of their loans do charge prepayment penalties, so double check your loan agreement.

Cash Kitchen Loan Alternatives

While Cash Kitchen provides a fast and convenient option, make sure to shop around and compare your alternatives before applying for one of their loans:

Home Equity Loan

• Lower interest rates (3% to 8% APR)

• Tax deductible interest

• Higher approval chances

Home Equity Line of Credit (HELOC)

• Interest-only payments during draw period

• Variable rates often start below 5%

Credit Cards

• 0% intro APR offers

• Rewards on spending

• Balance transfer options

Personal Loans

• May find lower rates than Cash Kitchen

• Longer repayment terms

• Larger lenders like Lightstream, SoFi

Be sure to compare interest rates, fees, terms, and eligibility requirements to find the most affordable financing for your kitchen remodel.

Is Cash Kitchen Legitimate?

In researching Cash Kitchen, we found no major scam warnings or legal actions against the company. They are based in Chicago and have been in business since 2015.

Cash Kitchen loans appear to be a legitimate financing option. However, make sure to read all loan terms closely as their rates and fees are quite high compared to other lenders. Seek out multiple quotes to find the best loan for your needs.

How to Apply for a Cash Kitchen Loan

If you want to move forward with a Cash Kitchen loan, here are the steps to apply:

1. Gather your personal and financial information including income, employment, monthly expenses, and credit history.

2. Start your application on the Cash Kitchen website. Fill in details on the loan purpose, amount needed, income, and credit score.

3. Provide contact information and banking details. Upload any required documents.

4. Electronically sign the loan application and submit it.

5. Cash Kitchen will review your application and inform you if you are approved within 1 business day.

6. Review your loan agreement carefully before accepting the offer.

7. If approved, Cash Kitchen will deposit the loan funds directly into your bank account.

Be sure to have a clear budget and plan for repaying the loan before moving forward with the application. And shop competitor lenders to confirm Cash Kitchen provides the best rates and terms for you.

The Bottom Line – Are Cash Kitchen Loans a Good Idea?

Cash Kitchen loans allow fast and easy access to funds for your dream kitchen remodel. However, make sure to consider the high interest rates, short repayment terms, and strict eligibility requirements before applying.

For homeowners with good credit and sufficient income, Cash Kitchen loans can provide a simple financing solution. But for most borrowers, alternatives like home equity loans, HELOCs, personal loans, and 0% credit cards will be more affordable.

Be sure to get quotes from multiple lenders before deciding on finance options for your kitchen remodel. And create a detailed project budget and timeline before taking on any debt. With prudent planning, you can undertake your ideal kitchen project while keeping costs and loan payments manageable.