Home Improvement Loans
Home Improvement Loans > Home Improvement Contracts
Depending on your financial resources and the scope of your home
improvement plans, obtaining funding for your project may be an important
concern. You may be able to pay for a small project out of your
ongoing household budget, but you may need to borrow money for a larger
project. If you participate in a savings or investment plan at work,
you may be able to obtain a short-term loan from your account, or you may
be able to borrow against the value of your life insurance policy.
In many cases, your local bank or credit union can arrange a suitable loan for your home improvement project. These financial institutions can help you decide whether a second mortgage, mortgage refinancing, home equity line of credit, or unsecured loan is the best option for your situation. Most home improvement loans involve a lien against your home, so be sure to compare interest rates and payment terms carefully before committing yourself to any of these financing options!
Before you start remodeling and improving your home, you should consider
whether your home improvement project is a good investment. If your
kitchen or bathroom needs updating or renovation, you could recover up
to 80% of your kitchen remodeling costs and up to 90% of your bathroom
renovation costs. Likewise, if your home is smaller or in worse
condition than the average house in your neighborhood, you may recover
much of your home improvement costs. However, excessive home
improvements that make your house stand out in the neighborhood are
seldom good investments.
Whatever type of home improvement project you're planning, it is important to select your contractor and read your project contract carefully. These steps can be crucial to obtaining good value for your money and achieving a successful project. Before embarking on your home improvement planning process, you may wish to review these pointers and tips about home improvement contracts.
This home improvement loans website features a selection of information resources to help you find a home improvement loan and choose reputable contractors and suppliers for your home remodeling project.
Home Improvement Resources and Loan Calculator
- Property Improvement Loan Insurance
The Federal Housing Administration (FHA) makes it easier for consumers to obtain affordable home improvement loans by insuring loans made by private lenders to improve properties that meet certain requirements. This article discusses the HUD Title I program, which insures lenders against most home improvement loan losses.
www.HUD.gov - Shopping for a Home Equity Loan?
Advice and guidance from the US Federal Trade Commission's Bureau of Consumer Protection.
www.FTC.gov - Home Sweet Home Improvement
Home improvement advice from the FTC includes a list of measures you can take to protect yourself from inappropriate lending practices.
www.FTC.gov - Fixing Up Your Home and How to Finance It
Features tips and pointers to assist homeowners in financing their home improvements wisely.
Portal.HUD.gov
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Home Improvement Loans - Home Improvement Loan Guide
Recent Home Improvement News
- Lowe's to Post Q3 Earnings: What Investors Need to Know
Lowe's continues to face challenges in its DIY home improvement segment, a primary area of concern.
Zacks Equity Research. Zacks. Monday, 18 Nov 2024 15:17:00 GMT. - IAC exploring spinoff of home improvement marketplace Angi
The company said there's no specific timeline for when the spinoff will take place, but a transaction would likely occur by the end of IAC's second quarter.
CNBC. Monday, 11 Nov 2024 22:09:32 GMT. - Visit this home improvement news page for more extensive news coverage.
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