Home Equity Loans The Best 2nd Mortgage for Financing Home Improvements
Tired of looking at those avocado green kitchen appliances? The wood paneling and shag in your family room? The worn fiberglass tub enclosure in the guest bath? Home improvement is sweeping the country. Approximately half of fixer-uppers are do-it-yourself, while the other half is contractor driven.
So how do you decide when to move or stay around, when a home remodel is a good idea or not?
The American Homeowner Foundation estimates the total cost of moving to be at least 10 percent of your home’s current value. In other words, if you can make things right with your home for less than 10 percent of what you could sell it for, it makes sense to stay put and fix it up.
Theres a couple of ways for you to start the transformation of your home. If you have enough equity built up for the total cost of the project, a traditional home equity loan might work for you. Benefits of home equity loans often include a better interest rate. You might even lower your mortgage payment while increasing the value of your home.
For the do-it-yourselfer working toward several...