Which Finance Option is Best For You?
Today, there are so many different ways to finance a home improvement project or remodel. Do you know which option is best for you? Gregg Cantor, president of Murray Lampert Design, Build, Remodel discusses how to navigate these options.
Details ‘Which Finance Option is Best for You?’
[Gregg Cantor] with historically low interest rates it’s a great time to hold on to your cash and finance home improvements today I want to go over your best financing options if you’re looking at solar repairs or minor remodeling home equity lines of credit have low fees no prepayment penalty and easy approval for major improvements like additions and custom kitchens home renovation or construction loans are the perfect fit these loans consider future value closing costs are reasonable interest rates are low and you can wrap everything into a new first mortgage after completion if you can’t qualify for more conventional financing FHA title one and homestyle loans are an option these loans offer great protection for consumers by making sure work is performed before disbursements are made to the contractor but closing costs can be very high my advice work through a local loan officer not online and make sure the contractor is pre approved through the lender