Home Improvement Loan

Why would I want a Home Improvement Loan

You may want a Home Improvement Loan if you find that your home needs repairs or additions that you cannot afford. If you bought a “fixer-upper” and do not have the start up cash to begin your projects, you will be interested in a Home Improvement Loan. Or, if you are considering selling and want to upgrade your house so that it will have a higher appraisal value, you may want to number crunch and see if a Home Improvement Loan would be worth the value of the finished product.

What can I use a Home Improvement Loan for and what are my options for a Home Improvement Loan

This loan covers necessary home improvements. It does not usually cover luxury items such as decks, patios, fireplaces, swimming pools, landscaping, or storage sheds. It does cover energy related items, additions, repairs, and remodeling. Home Improvement Loans are usually paid back on a fixed rate.

Why should I get a Home Improvement Loan

The following are a couple of benefits Home Improvement Loans offer:
• Home Improvement Loans are unsecured, which means there will be no lien placed on your property.
• Approval turn around times are usually very quick, so you can get your loan and start on your projects right away.

How can I get a Jumbo Mortgage

We would be pleased to help you with a Jumbo Mortgage Loan. Click here to continue.

How can my FICO/Credit Score affect my mortgage rate

Your Credit Score and FICO are always an important determining factor for your mortgage rate. If you score between 720 and 850, you don’t need to worry. You are A-Paper. However, if you score below 660, you will probably have a tough time finding a lender. If you score below 620, you are Sub-Prime or Non-Prime, and need to raise your score before applying for a loan.

Q: What kind of properties can I get a Home Improvement Loan for?
A:
You can get a Home Improvement Loan for an owner occupied residence. No more than 15% of that residence may be used for business purposes.

Q: How long can I have a Home Improvement Loan, and how much money can I borrow with one?
A:
Home Improvement Loans are limited to $7,500. The longest term they can run for is 120 months.

 

This site is not a broker and does not collect or solicit mortgage applications. Content is for informational or comparison purposes only. Services are not available in New York. Products and services may not be available in all other states.

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