You’ve decided to spruce up the homestead with some needed improvements. Fantastic. Now here lies the rub, how are you going to find home improvement financing?
Let’s face it, kitchen floors and new window panes don’t grow on trees. Even though home improvements are an investment that will make you money in the long run, finding the home improvement financing you need now can be difficult, and not getting an adequate amount of funding for your projects can lead to compromises in quality that you may later regret.
Homeowners have a variety of options when it comes to finding home improvement financing. They can borrow against the equity in their homes and various federal loan programs also exist for borrowers. Here’s a few home improvement financing options you may what to consider:
Mortgage refinancing: Now is the time to take advantage of historically low interest rates by refinancing your mortgage to pay for home improvements. You can refinance your mortgage and borrow money against the equity you have in your home. Some banks even offer loans that allow you to borrow more money up front by adding the value of the planned improvement to your equity. Refinancing your mortgage for home improvement financing purposes is a good deal because you’ll have the convenience of just one home loan and monthly payment.
Home equity loans: These loans, also known as second mortgages, lets homeowners borrow money by leveraging the equity in their homes. They’re popular among folks looking for home improvement financing because homeowners are able to deduct the interest from their federal taxes.
Federal Title I loans: If you don’t have much equity in your home, you may qualify for home improvement financing under a Title I loan. These federally-backed loans offer negotiable interest rates and can be tapped for about $25,000. The loans can only be used to pay for essentials however, such as improvements made necessary by a medical condition, not luxuries like swimming pools.
One method of home improvement financing you want to avoid is financing through a contractor. These loans often are made by sub-prime lenders and come with hidden fees. Also, getting financing through your contractor puts you in a poor bargaining position with him when it comes to getting a quote for your home improvement project. When hiring a contractor, it’s best to have your budget and home improvement financing already prepared to ensure the best deal.
Home ownership is like any other investment — you’ve got to spend money to make money. But to get the most out of your home investment, make sure you get your home improvement financing right. Borrow from reputable lenders and don’t overextend yourself.
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January 30th, 2010 at 5:46 am
btw i know he’s not really Billy Mays, but he looks just like him!
January 30th, 2010 at 5:58 am
No she was just his TV wife. Tim Allen was married to a woman named Laura Deibel from 1984-2003 and is currently married to a woman named Jane Hajduk, who he has been with since 2006.
January 30th, 2010 at 6:30 am
The first step is to check with your local bank and realtors…there are also national grants available from the government. Take a look at this article 'How to Get a Home Improvement Grant' http://www.associatedcontent.com/article/459112/how_to_get_a_home_improvement_grant.html for some tips.
Good luck!
January 30th, 2010 at 6:50 am
RIP BILLY MAYS! But I can’t believe he’s actually not yelling here!
January 30th, 2010 at 9:13 pm
lol where did you find this Home Improvement: Tool Time? I also remember seeing some of these after school as a kid…
January 31st, 2010 at 3:18 am
Every women is passionate about their house and definitely go for home improvement reviews.
I have gone through your website. I saw affiliate ads, rather than becoming an affiliate i suggest you to introduce contextual ads in your web.
You can either get codes from google that help you to get your company listed in most frequent searches.
January 31st, 2010 at 3:55 am
Most of the home improvement grants are for renovating property in low income areas, and you have to use the property for section 8 rentals, not your own home. google search it, I found the site that way. There are grants for everything you can think of. It's a .gov website. Don't subscribe to any service that wants to charge money for finding grants for you, those svcs. are just a scam. Anyone can research and apply. I spent two days scrolling through all of the grant information just to find out that I didn't qualify for anything. Some of them are pretty funny, I saw one grant for immigrants from Africa to study ancestrial drumming. The comedian David Letterman has set up a grant for " mediocre students with little ambition". The only grant I was eligible for was down payment assistance for first time homebuyers, the application process was so long I closed on the house and moved in before I heard anything.
January 31st, 2010 at 10:02 am
Got to love Tim The Tool Man Taylor
January 31st, 2010 at 2:23 pm
I trust myself or my father who's been a carpenter for 50+ yrs. If we can't figure it out, it's not doable! Kind of snotty but we make a great team! Because of him I have my own company that I know run with a partner check us out at, http://www.dwelldesignbuild.com
January 31st, 2010 at 9:54 pm
There are TONS of free classified websites that let you place free "service" ads. You can do a search by entering "free classified ads" and that will at least get you started and it's no cost!
February 1st, 2010 at 12:47 am
I love this show
February 1st, 2010 at 3:37 am
HOBO's has a big selection of flooring at a discount price. There is one in Crest Hill (near Joliet)
February 1st, 2010 at 2:32 pm
you guys need to watch “Home Improvement: The Count of Monte Borland” here on Youtube. it’s freakin’ hilarious.
February 1st, 2010 at 4:53 pm
http://www.hgtv.com, http://www.tlc.discovery.com
February 1st, 2010 at 8:43 pm
I prefer the german voices =)
February 1st, 2010 at 9:34 pm
hahahaaha they put this show on at 10 a.m monday thru friday on TBS…freaking love it
February 2nd, 2010 at 1:53 am
lmao bob vila on this = ultimate hater
February 2nd, 2010 at 6:23 am
I'm not an experienced tiler, but I do know something about cutting metal.
You can use a pair of straight cut aviation snips. They will cut easily and cleanly. The only problem might be if the tile is embossed with a pattern. The cutting process will tend to flatten the relief along the edge of the cut.
Alternately, you can use a very fine tooth hacksaw (32 TPI) to cut them. Clamp the tile to your workbench, between wood blocks so it doesn't move around. Then use a fine file or sandpaper to smooth the edge. When you're working on metal it's a good idea to wear eye protection and a pair of gloves. Hope this helps.