Home repair loans provide financing for home improvement projects. These projects can become expensive, and sometimes financial help is needed. Here are some basic reasons to get a home improvement loan for your project:
An unsecured personal loan is great for small to mid-sized undertakings. For example, you may want to add new flooring and countertops in your kitchen, or upgrade your bathroom.
This type of loan is typically easier to obtain than home equity loans, but your credit score and income information are still big factors. These influence your monthly payments, loan amount and interest rate.
A common reason for home improvement loans is to increase the value of a property. This loan allows you to complete projects that may make your home more appealing on the market. You might also need a home improvement loan to make your space more comfortable.
Forgo putting your home at risk
Unlike a home equity loan, home improvement loans are safer. You don’t have to offer collateral to get this type of loan. Unsecured personal loans are primarily obtained through personal information. This includes your credit score and income.
Quick financing
Home improvement loans are fairly quick to receive. You can be given a lump sum amount for the whole loan. In some cases, you can receive this funding within a day.
Increase the value of your home
Home improvement projects can boost the value of your home. Valuable additions like finishing a basement or building a deck can produce major returns on your investment.
When it’s time to start home improvement projects, proper financing is a must. You may require a personal loan, or your project may be larger and require a secured loan. Speak with a local lender to find out which loan options are best for you.
Kim Clark started her real estate career in 1999 and shortly thereafter obtained her Broker’s license in 2002. After working for larger, corporate offices, she realized that her business and clients needed a more personalized and flexible firm. She founded Bayside Realty Consultants in 2007 offering a space of unity, collaboration and encouragement for agents and their clients. Kim specializes in the unique Cape Cod market comprised of primary, vacation and investment properties.
She says "It is great to be a part of helping make a homeowner's dreams come true". Clients and their individual needs can make things very exciting! Kimberly's enthusiasm is contagious and it has been a real asset in her successful career. She says, "Never quit. Just do what you like and the rest just falls into place." She is certified in several real estate designations including GRI, CBR, CRS, e-Certified, and a certified trainer.
