At Huntington Remodeling, we believe an investment in your home today can improve your family’s quality of life for many years to come. We offer a variety of financing options to make your remodeling dreams more attainable. Keep reading to learn the best way to finance home improvements so you can feel confident taking the next step in your home improvement journey!
1. Renovation Refinance
A renovation refinance allows you to replace your current home loan with a new one that includes the costs of the repairs/renovations that you want to make. Qualification is based on the renovated value of your home, and you get to combine your mortgage and renovation costs into one single, convenient loan.
2. Cash-Out Refinance
A cash-out refinance loan allows you to use the equity you’ve built in your home to free up cash for any repairs, renovations or other home improvement expenses. Essentially, if you already have enough home equity and don’t need the value after renovations to qualify for a loan, you can borrow against your current equity to pay for renovations.
3. Second Mortgage
With a second mortgage, you get a loan or a lump sum of cash that is secured by and borrowed against the current value of your home—no need to change or adjust your current mortgage. Based on your home’s equity, you can get a line of credit or cash from a lender to pay for renovations. Keep in mind, these loans typically have higher interest rates and are often variable-rate loans.
Lastly, cash is the most obvious way to pay for your remodel—though not always a realistic option. In short, if you have plenty of discretionary cash saved up, this will likely be the quickest and simplest way to pay for your home renovations.
Luckily, we offer several other easy and convenient ways to pay for renovations, especially when it comes to funding large projects.
At Huntington Remodeling, we believe an investment in your home today can improve your quality of life for many years to come. We’ve partnered with Highland HomeLoans to make it easier on you (and your wallet) to pay for your dream home remodel.
A renovation loan can help you turn an ordinary house into your ideal home. Whether your home is outdated and in need of a facelift or it needs a complete overhaul to meet your family’s changing needs, a renovation loan makes financing easier than ever by rolling your home improvement costs into a single mortgage—it’s just one loan, one monthly payment and one beautiful remodel.
Take advantage of the historically low interest rates and get started on the remodel of your dreams! Get in touch with a Loan Expert to learn more about our financing options so you can make the best way to finance home improvements decision for your family. If you’re ready to set up your remodel consultation, fill out the form on our website and one of our team members will reach out shortly after.
Huntington Remodeling is part of the Highland Homes & Huntington Homes family with over 35 years of experience and a reputation for quality work.
Get started on the home transformation of your dreams with the remodeler you can finally trust. Give us a call or fill out the form on our website to get started today!