Expert's Advice On Paying for Home Improvement

Here is  an online expert's advice on the best way you can apply to pay for your home improvements:

Dear Dr. Don,
We need to make some updates and improvements to our home as well as undertake a few cosmetic enhancements that will add to its appeal and market value based on our location and comparable homes in our immediate area. We expect the cost for these enhancements to be approximately $60,000 and are wondering about financing.

We currently have a fixed-rate mortgage and a line of credit. The balance on the 4.95% fixed-rate mortgage is $21,000, and the monthly payment, including taxes, is $1,206. The line of credit is $200,000, has a rate of the prime minus 1.6 points (currently 1.65%), and the outstanding balance is $172,000. The draw period on the line expires in October 2017, at which time we must pay off the balance in 10 years.

The estimated market value for a home like ours is $575,000. We are financially stable. Our gross income is $6,600 per month. We both have credit scores of about 769. We have three children: one in the third year of college, one entering college in 2013 and one possibly entering college in 2015.

Our question is: Considering the current favorable interest rates on mortgages and refinance products as well as equity lines and loans, what would be the most cost-effective way for us to finance the $60,000 for our home improvement work? It seems every bank we ask has its own agenda to serve, and it's getting very complicated. We also find many bank loan officers are overwhelmed with requests and are impatient. We would appreciate your unbiased and straightforward feedback.

Thank you,
-- Jeanne & Tom

Dear Jeanne & Tom,
Even though you've done an excellent job in describing your situation, a solution isn't clear-cut. Your goal should be to minimize your total interest expense over a time period that allows you to pay off the loans while meeting your other financial goals. How you can do that depends in part on your lenders' willingness to work with you and your attitude toward interest rate risk.

I'm going to discuss the pros and cons of three options, along with some variations on these options:

1. Ask the lender to increase your home equity line of credit to $235,000.
2. Do a cash-out first mortgage refinancing.
3. Pay off the first mortgage with the available balance on your home equity line and then finance the home improvements with a new home equity loan.

If you are able to increase the credit line to $235,000, you will have enough to take on the projects, you'll hold on to the low interest rate on the debt, and you shouldn't have to pay much, if any, in closing costs on the change to the loan. But the lender has to be willing to work with you. And note that you'll be hanging onto the risk that the line's interest rate could head higher in the future because it's based on the prime rate. You can manage that risk by aggressively paying down the loan balance.

A cash-out refinancing will pay off your existing first mortgage plus release money for your home improvements and repairs. The home equity line lender may have to agree to the refinancing. If it has to agree and won't, then you can look into refinancing both the first mortgage and the line of credit. The bad news is you will lose the low rate on your home equity line. You'll also pay the higher closing costs associated with a first mortgage. The good news is you will no longer face the interest rate risk on the line of credit, and you'll be locking in at near-historic low rates on mortgage loans.

Finally, you could look at taking out a home equity loan as a third mortgage. It's called a third mortgage because it's third in line to be paid in the case of foreclosure. It won't be a third for long because you'll pay off the first mortgage with the loan proceeds and have money to pay for your household projects. The closing costs should be minimal, but the interest rate will be higher than they are on your existing first mortgage. You'd take this approach if you wanted to hold on to the home equity line and if that lender won't sign off on the cash-out first mortgage refinancing.

It's difficult to come up with definitive solutions when you incorporate an adjustable-rate loan into the equation. You know your needs and comfort levels more than I could ever hope to. Which approaches are the lenders willing to discuss, and how willing are you to take on the risk of higher interest rates in the future to hold on to relatively low adjustable-rate debt over the next few years? Talk over these options with your lenders, and the best home improvement financing approach will rise to the surface like cream. Read the source here

Different Options to Finance Your Home Improvement Project

If you are planning to fund a home improvement project, then you really would want to know how to get the financing you need. The good thing is that you have wide range of options to go. The following is and excerpt on how you really can take advantage of the funding of a home improvement project in the nearest future:

Home improvement projects are popular these days, but getting financing for them can be difficult. So what are your options in today's tight credit market?
The challenges and uncertainties of buying one home while selling another are pretty daunting right now. As a result, many homeowners who would otherwise be looking to move up to a larger or nicer home are opting instead to improve the one they have. Permits for home improvement projects have been trending upward even as the housing market has struggled and hit their highest level in 5 years over the winter, with 2.9 million issued in February alone.

That being said, the same tight credit that is bogging down the housing market is also a problem for homeowners looking to remodel. So where can you get financing for a home improvement project?

Fortunately, there are a number of options. While some require that you have a fair amount of equity in your home, that isn't the case for all of them. In fact, some are even available for homeowners who are underwater on their mortgage. Here's a look at some of the main ones.

Home equity loan

This is traditionally the first choice for financing major home improvements or remodeling projects. Basically, it involves taking out a second mortgage on your home to pay for the work you want to have done. Because it's a type of mortgage, the interest you pay is tax-deductible, which makes this a very attractive type of financing.

Of course, to get a home equity loan, you need to have equity in your property. Most lenders will allow you to borrow against no more than 80-85 percent of your home's current value -- and that includes the balance on your existing mortgage. So naturally, this isn't an option for those who are underwater on their mortgage or have little home equity to begin with.

Home equity line of credit (HELOC)

This is another type of home equity loan. The difference is, instead of borrowing a lump sum, you're given a line of credit, like a credit card, that you can borrow against as you need it. This is convenient for do-it-yourself projects or others where you need to make occasional outlays for materials or labor. HELCO interest rates tend to be lower than on a regular home equity loan, but the tax advantages are the same. Equity requirements tend to be somewhat stricter than on a standard home equity loan.

Cash-out refinance

With mortgage interest rates as low as they are, it might make sense to simply do a cash-out refinance of your existing mortgage rather than seek a home equity loan or HELOC. In a cash-out refinance, you borrow against the value of your home as part of refinancing your mortgage -- you take money away from the transaction.

The interest rates are lower than on a HELOC or regular home equity loan, and refinancing your current mortgage lets you reduce the interest rate on your existing mortgage debt as well. You may also find that lenders are more willing to do a cash-out refinance than either type of home equity loan, although closing costs tend to be significantly more.

Again, this type of loan is available only to borrowers with significant equity in their homes.

FHA 203(k) refinance

This is the first of the home improvement loan options for borrowers limited home equity. An FHA 203(k) refinance allows you to refinance your current mortgage with an FHA loan while borrowing additional money for home improvements. The additional amount you can borrow for home improvements is based upon the improved value of the home once the work is completed. This provides a bit more flexibility for homeowners who currently don't have much home equity.

This type of loan can't be used for luxury improvements such as installing a hot tub, although more routine niceties such as an outdoor deck are allowed. All work must be completed within 6 months unless a waiver is obtained. This type of loan is also available to buy and rehabilitate a home as well. Contact an FHA-authorized lender for details.

FHA Title 1 home improvement loans

With this type of loan, you can borrow up to $25,000 for home improvements even if you're underwater on your mortgage. These are fixed-rate home loans with terms of up to 20 years. Interest rates are higher than on the loans described above -- 10 to 14 percent is common -- but are still much lower than you would get on a unsecured personal loan from a private lender. Same as an FHA 203(k), this type of loan cannot be used for certain improvements deemed to be luxuries.

Borrow from your 401(k)

If you have a 401(k) retirement account, you can borrow against it to make home improvements. Note that we aren't talking about taking money out of the account, but borrowing money you'll repay to yourself. The advantage of this approach is that you can borrow money at a really low effective rate -- usually slightly higher than what it would earn if left in the account (so most of the interest is paid to yourself).

The downside is that the interest on these loans isn't tax-deductible, as on a home equity loan, and you typically have to repay it back into the account within 5 years. Also, if you're laid off, you have to repay the loan in just two months or incur a 10 percent penalty for early withdrawal. This makes it an option you really should consider only if you have a pressing need for improvements, such as major repairs or adding necessary space for a growing family.

Borrow against other investments

Maybe you're underwater on your mortgage, but have investments such as stocks, bonds, CDs or mutual funds? Rather than selling them to pay for the work, you can use them as collateral to take out a loan. This will get you a much lower interest rate than on an unsecured personal loan from a private lender. In cases like this, you typically want to avoid borrowing against stocks or mutual funds since the value may decline and the debt could be called in. Fixed-income investments, such as bonds or CDs, offer a more stable option.

Contractor financing

Many types of contractors will provide their own financing for work you have them perform. This is particularly true for products and services like new windows, siding, roofing or furnaces and air conditioning systems.

If you go this route, be sure you understand what the true cost of the financing is. Some contractors may advertise low interest rates or no interest payments for a year, but charge higher rates for the work itself, so you end up paying more out of pocket than you might have with another contractor and bank financing.

Credit cards/personal loans

As a last resort, you can always put it on plastic. But don't forget, credit cards carry some of the highest rates around. Personal loans from a bank, which like credit cards are an unsecured form of credit, also tend to carry high interest rates. Many borrowers underestimate just how long it will take them to repay a high-interest loan, particularly when it involves the type of money needed to do most home improvement projects.

Generally speaking, this type of financing should be used only for small, relatively inexpensive projects that can be quickly repaid. Credit card companies often offer low- or zero-interest "teaser" rates that may seem attractive but can get you into financial trouble if you don't pay them off before the teaser rate expires and the rate jumps. Use with caution. Source

So, with the tips above,your quest to get funding for home improvement loans would be  easier.

Easy Tips to Avail Home improvement loans in 2012!

Its now 2012 and you may desire to avail loans to improve your home. This is possible and fortunately, you can avail so many types of home improvements in this year, 2012. This article provides you with tips on how you can easily avail such funds this year. The tips are easy to apply and you will find them invaluable in your quest to improve the look and worth of your home.

Before going into details on how to access home improvement loans, it is important that you understand what these loans are. They are those loans you can borrow from lenders or banks for the sole purpose to redoing or repairing your home. These funds are necessary since home improvement is often a project that may require huge sums of money.

Lenders offer these loan facilities to home owners, and sometimes such homes are used as collaterals to secure the home. So, if you are a home owner, your chances of securing this loan is higher than people without a home. Now, let us see how you can easily access these loans for 2012.

• You should look online

There are many websites out there that provide you quick and helpful information on the various types of loans that can be availed to improve the look and value of your home. These websites are mainly those of top banks, credit unions, and other financial institutions or lenders that offer such credit facilities to home owners in need. You are sure to have an avalanche of online sources from where you can access loans suitable for the restructuring, redoing, or repairing of homes that are in bad shape (or that which you want to redesign).

• You should Research your present banker

You can easily access home improvement loan from your present banker. It is possible that among other services rendered by your banker is the issuance of this loan to those who meet the lending qualification. In 2012, you must go through the lending requirements so you can take advantage of what the lender offers and how you can easily key into it to avail the needed loan.

As a quick tip, get the latest news and blog updates on this loan from the website of your banker. You can as well contact the customer service of your bank for enquiries and tips on these loans.

• Approach other bankers

If your banker does not offer loans for the improvement of homes in 2012, then you should approach other bankers. There are thousands of bankers and lenders out there that are ready to offer you this loan so you can do home improvement. Visit the offices of the bankers in your neighborhood or you can still make research online. You can use Google to research the websites of home improvement loans bankers near you.

Conclusively, as you plan to make improvements on your homes in this year, follow the easy tips above. You can still access more helpful details on these types of loans from other personal and non personal loans websites.

Home Affordable Refinance Program – Quick Details on the Obama’s Initiative

If you are planning to do home improvement on your home, you may want to consider accessing the most ideal type of funds to do this. If the equity in your present mortgage is up to about 20% then you should consider going for refinancing. This means you are going to apply for new loan to replace the existing mortgage debt. This would change the existing terms and conditions so you can get loans with more favorable terms.

Home Affordable Refinance Program or HARP is one type of refinancing program that the Obama's administration introduced so that eligible home owners obtain refinance for their homes. Here are some quick details about the program you should know.

Lower mortgage rates

The Home Affordable Refinance Program or HARP encourages homeowners that have mortgage obligations to pay to government lenders like Freddie Mac and Fannie Mae to get refinance so that they would be able to benefits from the lower mortgage rates sweeping the economy. In other words, this option can encourage the borrower to get mortgage of a more stable rate.

Higher appraised value

With the Home Affordable Refinance Program, you can now qualify for refinance of up to 105% of the amount or value worked out from appraising your home. This is now a better option than the traditional government FHA loan program that possible allows only up to 97% of the appraised value to refinance. In addition, your equity and credit scores for qualification should be less than 20% and less than 700 respectively.

Easy eligibility requirements

The eligibility requirements for the Home Affordable Refinance Program include:

·         The loans should be provided by Fannie Mae, Freddie Mac, or any federal government approved financial lenders.

·         You need to be the owner occupier of the unit of housing which you is seeking to refinance the loans for improvement.

·         You should be very current on your payments and must not be less than one month in your debt delinquency in the last 12 months.

So, with the above highlights you should consider the Obama's administration's Home Affordable Refinance Program to make improvements on your home.          

Secured Personal Loan for Home Improvement UK

Do you urgently want to get personal loan to finance your home improvement projects in the UK? If this is your desire then you can accomplish it. With many lenders in the UK you have access to funding that can assist you realize various home improvement projects. You can remodel your kitchen, renovate your bedroom, fix up your roof, and install energy efficient facilities with this fund. Secured personal loan for home improvement could be your perfect choice.


This article guides you on how to obtain funding with ease. It specifically hints you about secured personal loan for home improvement. Whether you are an UK resident or you want to access information on home improvement loan then this article could be invaluable to you.


Secured loans are loans that are backed by collateral. In most cases, your home can serve as collateral. Alternatively, you can pledge other valuable assets if you are not a homeowner. In any case, a secured home improvement loan is "secured" with an asset.


Once you have decided to do home improvement you may consider going for secured personal loan. This loan helps you take care of all your improvements. The amount usually granted is higher than those of unsecured home improvement loan (financing approved without collateral). More so, the cost of this loan is on the lower side since the stipulation of collateral covers the risks of none or default repayment.


As a homeowner in the UK, you need to take advantage of secured personal loan for home improvement. Amount of loan is high, the interest rate is low, and in some instances the loan facility is tax deductible. You can also get cheaper quotes by comparing rates from different lenders online. What better provision can you wish for?


To apply for secured personal loan you can visit the website of the UK loan company online. Fill the application form and click the submit button. The processing of your application begins instantly. As long as you meet the criteria for approval your loan could be delivered to you without much hassle.


In conclusion, you can get further information about UK secured personal loans for home improvements from any financial expert in your area. Also, making additional research online on this subject would eventually prove invaluable to you as you decide on secured personal loan for home improvement.

Arab Bank Home Improvement Loan

Are you interested in getting home improvement loan from an Arab Bank? This is possible with Arab Bank- Palestine. The bank offers resident homeowners and expatriates loans to improve their dwellings. You can access application eligibility and other information from the website of the bank or from any of its branches.


What are the unique features of Arab Bank Home improvement loan?


The financing you obtain from Arab Bank can be up to 50% of the worth of your home. This loan helps you to make the most your house's value. You can apply the loan for internal maintenance, redecoration, and debt consolidation.


Other specific features of Arab Bank's home improvement loan are: interest rates that are highly competitive, flexible loan repayment plans or tenure of up to 15 years, financing or loan value of up to USD140, 000, and speedy loan processing. In addition to the above, you can just as well receive a gift voucher for electrical appliances worth USD1000.


Eligibility for Arab Bank Home improvement loan include mandatory provision of the following documents -


* Original copy of valid ID
* Salary slip
* Salary Transfer letter
* Property Registration Certificate
* Ownership Certificate of the financed Property
* 2 Property evaluations/appraisals
* Original copy of passport for expatriates including a valid residency document.


You can apply for your home improvement loan from this Palestine Bank with ease. Contact www.arabbank.ps to apply

Important Questions You Must Be Ready To Answer On Home Improvement Loans

Questions are the Answers

When you decide on going for home improvement loans then you would want to find a suitable lender. Irrespective of the lender you choose, there are questions you must be ready to provide answers for so as to access funds for the improvements you want to carry out. In this article, highlights of common questions that home improvement loans lenders ask are provided.


Understanding these questions can help perk up your chances to get home improvement loans. These questions include:


- For how long have you been the homeowner?
- What is your intention of wanting to improve your home?
- Do you intend selling the home after the improvements?
- Are you considering or do you already have provisions for energy efficient in the period of renovations?
- How do you intend to carry out the repairs, in one step or stages?
- What is the value of mortgage on the home, if any?
- Do you owe any amount on your mortgage?
- What is the total cost of the improvements you want to carry out?
- Have you done appraisal on the home and when was the last time it was done?
- Do you have another debt you intend consolidating with the home improvement loan?
- Is there any of the repairs t that would be tax deductible?


These and other questions are asked by approved lenders. However you must note that the above questions do not comprise all the questions to expect. Individual lenders may request for specific information concerning the loan you want. In most cases, eligibility guidelines for home improvement loan approvals demands that you answer the questions.


So, be prepared to provide answers to such questions as highlighted above. Accurate answers can speed up home improvement loans approval for you.

Home Improvement Loan - Streamlined 203k Program Limited Repair Program

Are you a homeowner that wants to get additional financing for your home improvements or repairs? Or, do you intend to get more funds to make repairs or improvements? If your answer to the above queries is yes then you need to read this article consciously. It provides hints about the FHA's Streamlined insured Mortgage Program. It is a home improvement loan program.


The Federal Housing Administration (FHA) offers homeowners the "Streamlined 203k" Limited Repair Program to finance their homes with additional funds of up to about $35,000. The funding can, specifically, be used to make purchase, repair, or improve their homes even before they move in. You too can take advantage of this home improvement loan to get cash to pay for property improvements.


The streamlined 203K mortgage home improvement loan can be originated by any FHA approved lender. This is rather different from what obtains in a Standard 203k Program. Hence, the program has additional features unlike the standard program.


An FHA appraiser or inspector identifies the kind of repairs or improvements that you can tap into. The following are a number of the repairs that qualifies for this program.

- Minor remodeling for kitchens that excludes structural improvements.
- Interior and exterior paintings
- Repairs for disabled individuals
- Repairs for exterior decks patios and porches
- Basement waterproofing.
- Purchase and installations of home appliances such as microwaves, dishwashers, free-standing ranges, refrigerators etc.
- Septic system replacements or repairs


The list is inexhaustible. More information concerning the Streamlined 203k Limited Repair Program or any other federal home improvement loan program can be accessed from the website of FHA. You can as well get information about eligibility requirements from this site.

UK Compare Home Improvement Loans -Benefits of Comparing Quotes Online

Loan brokers: Metro Industry Market Evaluator



If you are UK residents that want to get affordable home improvement loan then this article can be of help to you. It discuses UK compare home improvement loans. You are going to learn of some benefits you will get if you stick with comparing loan quotes from different lenders online.



1 - The first benefit of comparing quotes of different UK lenders online is because it will save you time. Yes, the time to check from offline office to another will be saved. If you go online and do your comparison, this will not take much of your time as you can get the results you look for in a jiffy.



2 - The second benefit is that you are going to save cost. For sure if you engage the services of a loan broker or other professionals to help you make comparisons, you are sure to pay some fees for their services. With online quotes matching of different lenders in the UK, you may not pay any penny. Most online websites you visit have calculators that you can apply to work out and compare home improvement loans. This is done free of charge and you save money with this.



3 - The third benefit of comparing quotes online for UK improvement loans is that you will not be faced with documentation. Offline application and comparisons of quotes for home improvement usually demand that you fill many mind-numbing documents. However, with online, this is minimized or eliminated. You only need to fill in your details on the online page and click the submit button to get the information you want.



These are three simple benefits of UK compare home improvement loans online. There are other benefits you can enjoy, nevertheless start with these now to help you decision making.

Advice on Home Improvement Loans - 3 Helpful Sources to Get Information

Are you seeking for advice on home improvement loans? Or better still, do you want helpful information on home improvement loans? If any of these bothers you, then this article is a must read for you! It guides you on different ways to get advice on home improvement loans.


To begin with, home improvement loans are those funds which loan companies or lenders approve for homeowners or individuals that intends remaking their abode. The funds are approved if you satisfy the lender's eligibility guidelines.


Moreover, various types of home improvement loans include - secured, unsecured, no equity, poor credit, and mortgage refinancing home improvement loans. You can contact government agencies as well as private lenders for this loan.


Now, the following are ways you can receive helpful advice on home improvement loans.



1 - The HUD/FHA loans programs office - In case you are opting to get your home improvement loans from government agency like the Department of Housing and Urban Development(HUD) or the Federal Housing Administration (FHA) then you can receive helpful advice here. Since these agencies offer homeowners with different kinds of loan programs, they can advice you on any issue concerning the loans you apply for. The loans programs office in any state (US citizens) you apply from can offer you information that would aid your decision before, during, or after the home improvement loan has been approved for you.



2 - Private Lenders - Your private lender for a home improvement loan can offer you helpful advice on the loans you go for. These lenders may include your banker, lending company, or online lenders. You will have access to the loans departments of these lenders where you are advised on eligibility and stipulations concerning the loans.


3 - Loan Brokers - You can receive vital information and advice on home improvement loans from certified and experienced loan brokers. These professionals should not be neglected as they are trained to give you advice in various aspect of the loan contract you sign with a lender. You can receive advice concerning the rate of interests, repayment terms, and whether the fund is tax deductible.


The above are three helpful sources to get advice on home improvement loan. They can show you the pros and cons of any improvement loans you select. Take steps now and be well informed before you choose that loan for home improvement today!

Fha Home Improvement Loans - General Hints You Should Know About This Loan

When you think of getting loans to improve your home then you can consider the Federal Housing Administration (FHA) in the US. It is a subsidiary of the Department of Housing and Urban Development - a government agency that specializes in providing homeowners with home improvement loans of various kinds.

The FHA guarantees different kinds of home improvement loans for home owners to access. This is often accomplished in partnership with approved lending organizations like banks. As a result, the FHA does not give out cash rather it guarantees the loan an approved lender will provide for you.

You must satisfy the eligibility requirements both from the lender and the unit of FHA in charge of issuing such loans. Never bother much about whether you can qualify for this loan because the FHA will provide you with eligibility requirements.

Nonetheless, you can obtain FHA home improvement loan with or without your home equity. Also, if you have bad credit history, it may not stop you from getting approval for this loan.

Some of the home improvement loans programs you can go for include: Title 1 programs, 203k programs and home improvement loans for Indians and Alaskans, etc. Details of the various programs can be accessed from www.hud.gov/fha

The amount approved for you as FHA home improvement loan can be used for many purposes which may include: renovations, rehabilitation, or total reconstruction of part or your entire home. Hence, you can use the funds to utterly alter the look and worth or your home for good.

FHA home improvement loans can really help you to improve your accommodation!

2 EFFECTIVE Steps to Getting the Best Low Cost Home Improvement Loans

There are hundreds of lenders offering home improvement loans. How can you really get the best from this stream of loaners? Or, how can you get affordable quotes from these lenders? Well, this article guides you on two effective steps to getting the best low cost home improvement loans.


1 - Independent Loan Broker - one of the best steps of getting the best low cost home improvement loans is to get the services of a reputable and experienced loan broker. If you do this, the professional can advice you on the best lenders to look out for. Since the broker is experienced in the field, you are certainly going to enjoy the best deal.

Although you are going to pay broker fees for the services rendered, this should not deter you in hiring their services. In the long run you will discover that the fees you paid are insignificant compared with the money the expert will help you save.


2 - Online Quotes - You can get a low cost quote for home improvement loan by comparing various quotes online. Since there are diverse lenders online, it is easy to get cheap quotes if you measure up what each has to offer. This is a cost effective way of getting low cost improvement loan.


The options discussed above are effective and can help you get low cost quotes for home improvements. Take these steps today and get yourself affordable home improvement loans!

SMART Options for Home Improvement Loans

Are you concerned about what kind of funds to access in other to improve or make over your home? If this is your predicament then this article will show you three loan options that can give you instant the financing you so much desired for home improvement. Most lenders offer them to homeowners, like you, that seek to finance renovations and improvements in their homes.


1. Low interest fixed rate home improvement loans - This type of loans have a steady rate of interest. This rate is spread over the life span of the loan or for a certain period. You will pay small period amounts as interest rates. Eligibility for this type of loan could be for those with or without equity on their homes.


2. Home equity loans - This is another smart fund for home improvements. The amount of equity you have on your home will serve as collateral for the loan you request for. The interest rate for this type of loan is low because of the security provided by the equity. However, in the case of default, you can lose your home to the lender. It is therefore obligatory to ensure that you are able to fulfill your part of the contract for this loan.


3. Home Equity Line of Credit (HELOC) - This is a kind of loan you can avail to do home improvements that you don’t know the exact cost. With this loan, the amount of funding you require per time would be provided. Some lenders can allow you to convert HELOC to Home Equity Loans. You need to compare quotes from different lenders to get a suitable HELOC rates for your home improvements.


The above are three smart loans options that most lenders offer to homeowners as home improvement loans. It is advisable that you do a thorough research on the quotes, terms and conditions of each lender to get affordable rates. You can as well consult a financial advisor or loan broker before opting for any of the above.

Home Improvement Loans - Financing Options You MUST Never Neglect

If you need funds to improve your home then this article will guide you on some financing options you have to go for. These options can be approved by both formal and informal lenders around you. Here are some of them:


1. Friends and family members - You can ask your friends, family members, or colleagues to lend you money to get on with renovations in your home. Your request could be granted if they have. In addition, you may not need to pay interest on the amount you received as the lender may give you this loan without profit motive. When you decide on this option, it would be essential to draw up a contract between you and the lender.


2. Home improvement dealers - There are home improvement stores and dealers which offer home improvement financing to customers. You can get all the equipments or appliances you need for the improvements from these stores. Most of these dealers will finance your home improvements needs if you purchase your entire makeover items with them. Dealer financing is a great way to free you from the stress of shopping for home improvement materials in other places. However, before you settle for this option, make sure you find out what the competitive rates are amongst different dealers.


3. Personal loans - You can go for personal loans from established lenders like the banks, cooperative society, building society and some other creditors. This is a normal loan you can apply for. The amount you request will be approved with a calculated interest rate that you will repay monthly. Before you choose this option, compare the interest rates and quotes from different lenders so you can get affordable rates.


4. Home improvement mortgage refinance - You can renew the finance of your existing mortgage in order to get funds for improvements. Approach your current mortgagee to refinance your loan. If this option is feasible then you can take advantage of it and get extra money for home improvements. You should be aware that since your mortgage repayments could be up to 20 years or 30 years, the option would be useful for you as the interest rate is fixed for the period. However, watch out for accumulated interests with this option in the long run. It may result to the loan being more expensive for you.


These are financial options you can choose to obtain loans to do a makeover or renovate your homes. You should not neglect them as they can be your ticket to improving the look and value of your home

4 Breathtaking Benefits of home improvement loans!

There are many financial institutions today that are providing homeowners with loans for the improvements of their homes. The government is equally doing a lot in this instance through the HUD and FHA Guarantee Loans Programs. Perhaps you are wondering why the craze for home improvement loans, this article highlights four breathtaking benefits of this loan.


1 - Home improvement loans help you to repair, renovate, reconstruct, or remodel any part of or your entire home. These loans can be availed to carry out maintenance in your home as would be approved by your lender.


2 - Home improvement loans can be used to build or construct an entirely new structure in your home. If you intend adding a new room or increasing the size of your kitchen because of the size of your family, you can get this loan from lenders to accomplish that aspiration.


3 - Home improvement loans can be obtained as secured or unsecured loans. Hence, whether you have collateral or not, some lenders can still approve this loan for you. The equity you have can still guarantee this loan so you get cheap rate and flexible repayment terms.


4 - Home improvement loans can be accessed from online lenders where the application is easy and the approval is faster than the traditional methods.


The above are some of the four breathtaking benefits you will enjoy with home improvement loans. Consider them and go for the loan options today!

Three Stunning Secrets of Online Home Improvement Loans Many Don’t Know

If you wonder why you should go to online lenders for your home improvement loans then this article will provide you with reasons. Below are secrets of online home improvement loans many don’t know about.


In the first place, loans regarded as home improvement loans are provided by lenders to homeowners or borrowers to renovate a part of or their entire homes. Since your savings or financial situation may not be enough for you to get this loan, it then becomes necessary to go for this loan option. It is specifically designed for home improvements.


There are traditional lenders as well as online lenders of this loan. However, here are the three stunning secrets of online home improvement loans:


1. Easy application - applying for home improvement loans through online lenders is very easy. All you need do is fill in the online application or loan request form. After the completion of this form, you can submit with just a click of the button. This process is easy unlike the traditional or conventional method where you have to deal with so much documentation.


2. Fast Processing and approval - As soon you submit your online application, the processing of your loan request commences. This takes just a few hours. In most instances, all things being equal, the processing will last for only 24 hours and you will have your loan approved.


3. Low interest rates - The online lenders of home improvement loans are many. So, because of the competition, you can get cheap and affordable online home improvement loans. Another reason for this cheap rate is low overhead and operating cost online. Take advantage of this today and get affordable home improvement loans.


The above are three stunning secrets of online home improvement loans that many don’t know anything about. Take advantage of them and get cheap loans for your home improvements.

Be Proud Of Your Home with Secured Home Improvement Loans!

Is your home falling apart because it needs repairs? If you don’t have the funds to carry out improvements, you may become worried as a result. In spite of this, there is still a solution. With secured home improvement loans you can make that necessary repairs and improve the structure of your home.


This article describes secured home improvement loans as the financial options you can access to fix your home that is crumbling.


Secured home improvement loans are the funds you can receive from lenders to finance repairs, constructions, and renovations in your home. Hence, If you want to fix the sewage system, repaint the entire house, redecorate the interiors, carry out re-roofing, remodel the bathroom, or add new room to the existing structure then you can apply for this loan.


What makes this loan to be "secure", you may ask? Well, this loan is secured because you are to provide collateral to avail this loan. The collateral you pledge could be your home (if you are the homeowner) or any of your valuable assets.


The benefit of going for this loan include: low interest rates (since the risk of non payment is secured), extension of payment term (which could be up to 25 years), and approval of large amount of money. There are whole lots of benefits for you with this loan option, so take advantage of it now.


Secured home improvement loans are available online. You can apply from the comfort of your home. A number of lenders will approve the loan you request for within hours of your application following immediate processing.


Finally, if your home is nothing to write home about, then you can change all that now by going for secured home improvement loans. With these options, you are sure to be proud of your home. Contact the various financial service companies near you to see if you will avail this loan today.

What Everybody Ought To Know About Unsecured Home Improvement Loans

Do you realize that many people don’t know much about unsecured home improvement loans? For sure, this is a fact because most think of this loan as kind conventional loans you can avail. But, this loan or financing is distinct. This article discusses unsecured home improvement loans to enlighten most of you.


Unsecured home improvement loans are financing you get from lending companies without the need for you to pledge a collateral. If you don’t have any valuable asset to guarantee, you can qualify for this loan. Hence, homeowners without equity on their homes can go for this loan.


Since the risk of non payment for unsecured home improvement loans is high, the cost of obtaining these loans is usually high for the borrower. The interest rates could be higher than those of other loans options secured with equity or valuable assets of the borrower. Interestingly, you can avail this loan if your current credit rating is poor.


The amount approved for you could be used to repair parts of your home, reconstruct the entire building, or improve some facilities within etc. You may also use the loan for some other purposes if the lender is not adamant that you present a plan for your home improvement.


Lender of unsecured home improvement loans fall in two categories - Government and Private Lenders. In the US, government agencies like the Department of Housing and Urban Development (HUD) and the Federal Housing Administration (FHA) work hand-in-hand with approved lenders to offer different kinds of unsecured home improvement loans at low rates. Equally, you can still opt for private lenders that offer these loans when you contact them.


If you don’t have valuable assets and think that receiving financing would be impossible for you then consider unsecured home improvement loans today. Although the interest rates are on the high side, yet you can still get affordable rates if you compare quotes and terms from different lenders.


Unsecured home improvement loans is able to make your dwelling comfortable and valuable!

Who Else Wants Home Improvement Loans UK?

Are you one of those residents in the United Kingdom that desperately want financing to repair or improve the look of their home? If you are, then this article would be significant to you. It discusses home improvement loans in the UK and how you can take advantage of it.


Home improvement loans are financing that can be availed to homeowners to improve the appearance of your homes. There are various institutions here in the UK you can obtain this financing from. Eligibility for these loans depends on the type, equity, and the kind of improvement you intend making on the home. Thus, if you need such financing then you had better get in touch with individual lenders to know their terms and conditions.


Here in the UK, different lenders offer these loans to qualified UK citizens. Your banker or mortgage holder can approve it for you if they offer this service. Besides, many independent financial institutions can be contacted for this loan. So you have numerous lending options in the UK.


To reemphasize the point made above, the amount you get approved for you may depend on some factors like the value of your equity, your credit score, the amount of remodeling or renovations you intend making. Individual lenders provide unique features with their loans so you are free to compare the quotes of each lender before selecting a suitable one.


You can as well go for online lenders of home improvement loans UK. If you go down this line then you can easy and quick approval of your loan. Online home improvement loans UK are easy to apply since you only need to fill in an application form and submit with a click of the button. The APR or annual percentage rate you pay with this process is lower than that of conventional loans applications.

So, if you want a loan to remodel your kitchen, modify your bathroom, add new room to your home etc then home improvement loans UK is a choice you may want to consider. Contact the lenders of this loan online today to increase the value and comfort in your home.

Home Improvement Loan Swimming Pool at Lyon Financial

Are you searching for an online resource on how to get a loan to repair your swimming pool or carry out construction of a new one? If this is what you would like to do then Lyon Financial could be your last search stop. This article provides you with helpful information on home improvement loans for your swimming pool by Lyon Financial.

Lyon financial is financial service company with over 30 years experience in the pool loan industry. The company is truly a pool financing specialists. What ever your need is in financing that has to do with pool, you can request for the loan from this lender.

When you opt for Lyon financing, the personnel you deal with are committed to meeting your needs and offer worthy service. On the average, loan officers with Lyon financing have 8 years of experience.

The interest rate of going for any swimming pool loan with this company is low and fixed. You still have to continue paying the same rate because it is does not change. This is true considering the fact that your pool will definitely add value to your home after the improvement. Other lenders or banks don’t consider this and insist on increasing the rate of interest.

Finally, you have all to gain and nothing to lose with swimming pool home improvement loan from Lyon. At www.lyonfinancial.net you can get additional information.