10 Key Reasons to Consider Financing for Your Home Renovation

If qualified – 100K worth of remodeling can average between $650 – $1,250 of monthly payment!

Have you ever considered remodeling your house and using financing?

Here are 10 key reasons why you should consider it!


1 – No down payment is required if you qualify.

Down payment can be a big issue when it comes to using any type of financing. Monthly payments are comfortable for us. However, the down payment is usually not. The great part is if you’re fully qualified for our programs, we can do a big project with no down payment. That can be a game changer if a down payment is not what you want or have accessible.


2 – Safety net and peace of mind.

Most finance companies guarantee the actual work and the credibility of the construction company. It’s a long process for a construction company to be approved by construction financing banks. So you have the peace of mind, that strong banks are behind this project. Making sure everything is running smoothly and legally.


3 – Most finances don’t have a pre-penalty payment fee.

You can pay it off whenever you want! Do you have extra cash? Got a bonus at work? Just sick and tired of the monthly payment? Perfect. Just pay it off! 


4 – Low interest rate and terms.

The benefits of construction financing are that if the remodeling includes any energy-efficient products we open special access to energy-efficient banks that can offer an interest rate as low as 3.99% and terms up to 30 years.


5 – Use other people’s money.

Why use your cash to remodel the house? House remodeling is an investment. You better take your cash and make him work and make you anywhere from 5%-10% yearly return and use financing to remodel your house. You are improving your house and building more equity. 


6 – Not always have cash available.

Sometimes you are considering a big remodel and do not always have the cash to do the entire project. So what happens is you break down a big project into a few smaller projects and the cost and headache increase dramatically. Getting the project done all at once and having a comfortable monthly payment that you can pay off whenever you feel ready.


7 – No difference from car financing.

Construction financing is no different than car financing as you already know, no one is buying a car with cash. It does not make sense because if you can have a comfortable monthly payment and whenever you are ready to move forward sell the car or pay it off. Most of the time with some profit. Construction finance is no different you are using financing to remodel your house. You get to enjoy a beautiful remodeled house and whenever the time is right and you’re ready to move on, you sell the house and sometimes with some profit.


8 – Tax benefits.

Some of the finance banks that we use offer tax benefits. Like tax-deductible payments or tax-deductible interest rates – of course, we always recommend all of our customers to consult with a tax advisor as none of us are qualified to give tax advice. We do see a lot of our customers getting amazing tax benefits from construction financing.


9 – No commitment.

What we love about construction financing is that there is no commitment until we fund the project. In most cases, the funding happens at the last steps of the project. That means at any point you decide that the construction financing isn’t for you there is an option to cancel it free of charge and pay the project in cash or use your financing option.


10 –  Great monthly payments.

Choosing financing options is important. Especially for the monthly payments, it is important to make sure that the monthly payments are fixed and will not be changed. Most of our finance banks are offering fixed monthly payments and fixed interest rates.


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