Guides / Home projects
How to finance new flooring
Short answer: Installed flooring runs about $6 to $20 per square foot for luxury vinyl plank, $6 to $18 for hardwood and $3 to $11 for carpet. A 1,000 square foot LVP project costs $6,000 to $20,000. A $10,000 personal loan at 12% APR over 60 months is about $222 a month.
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How much does new flooring cost?
| Type | Per sq ft, installed | Example |
|---|---|---|
| Luxury vinyl plank (LVP) | $6 to $20 | 1,000 sq ft: $6,000 to $20,000 |
| Hardwood | $6 to $18 | 2,000 sq ft: $12,000 to $36,000 |
| Carpet with pad | $3 to $11 | 12 x 12 room: $612 to $2,016 |
Source: This Old House (>LVP, >hardwood, >carpet), updated June 2026. Get at least two written quotes; prices vary by home and region.
Monthly payment examples
| Loan amount | 12% APR, 60 months | 25% APR, 60 months | 12% APR, 36 months |
|---|---|---|---|
| $3,000 | $67 | $88 | $100 |
| $10,000 | $222 | $294 | $332 |
| $20,000 | $445 | $587 | $664 |
Estimates assume a fixed rate equal to the APR. APRs across our network range from 5.96% to 35.99%.
When a personal loan makes sense for new flooring
- You're doing several rooms at once
- Store financing is deferred interest or tied to one retailer
- You want one fixed payment for materials and installation
Lenders to compare
Checking your rate uses a soft credit pull. Accepting an offer and finishing a lender's application may lead to a hard inquiry.
Flooring financing questions
Can I finance flooring with bad credit?
Some lenders in our network work with fair credit, though rates are higher. Pre-qualifying shows your options without affecting your credit.
Should I use store financing for flooring?
Only if it's a true 0% APR you'll pay off before the promo ends. Many store plans use deferred interest.
Does the loan cover installation?
Yes. You're funded directly, so the money can pay for materials, installation and removal of old flooring.