Once upon a time -- pre-recession -- you could open a line of credit using the equity in your house. With the housing industry starting to pick up, are HELOCs back, too?
Despite being squeezed out of the traditional mortgage market and crippled by a mountain of student loan debt, some Millennials have been able to afford homeownership. Here are three creative ways they're doing it.
Few homeowners have the funds to write a check for hardwood flooring installation or a complete kitchen remodel. See if any of these seven financing options are right for your particular financial circumstances.
If you plan to improve or repair your home or buy a new one, your search for funds may lead to your retirement savings. Before you touch those funds, consider the short- and long-term consequences.
One of the biggest obstacles to the housing recovery could also be a personal obstacle if you are trying to buy or sell a home or to refinance your home. Find out why appraisals are causing havoc in the housing market.
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Home energy tax credits: Are they still available?
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6 reasons home renovations are booming
A surge in home improvement activity in the U.S. started in 2012. See what is driving the trend to fix up our homes and stay put.
Financing Options
There are many different ways to pay for your project if you do not have the option of paying all cash. Refinancing your mortgage, getting a second loan, or signing up for a credit card are all viable options. Learn more about each below.
Did you know you could pull cash out of your home to pay for your remodel by refinancing your mortgage? With rates at historic lows, you can have the kitchen you want along with a low fixed-rate mortgage payment.
| Product | Today | +/- | Last Week |
|---|---|---|---|
| 30 yr Fixed Rate | 3.98% |  |
3.86% |
| 15 yr Fixed Rate | 2.99% |  |
2.99% |
| 5/1 ARM | 2.72% | |
2.65% |
If you are looking for an easy, short-term way to pay for your remodel, a credit card may be the right option for you. Choose from a variety of cards, including those offering 0% interest over 12 months.
Have a lot of equity in your home and don't want to pay for your remodel in cash? A home equity line of credit may be the financing option for you.
