Home Renovation Loans
Upgrading or remodeling is a great way to enhance your home’s value while simultaneously improving your quality of life. Financing Renovations with a home renovation loan means you don’t have to wait to make improvements. A home improvement loan from CMI helps you quickly access the capital needed to make these changes.
Multiple Options Available for a Renovation Loan
For those seeking home improvement loans, there are multiple options available. A secured line of credit and a 2nd mortgage are just two methods of using mortgage refinancing to improve your home. However you structure your home renovation loan, you need a professional for guidance and direction. CMI mortgage brokers can help you find:
- Secure credit lines up to 90% of your home’s value so you only access your equity when you need the cash.
- Second mortgage home improvement loans up to 100% of your home’s value
- First & second position construction loans up to 95% of home value
- A bad credit home mortgage loan for borrowers who have credit troubles or are self-employed.
CMI Mortgage Brokers offer Expertise in Home Renovation Loans
We work with over 250 lenders, so we will find the best rates. We also understand housing markets, so our brokers offer advice on your home improvement loan goals. For example, is your goal to improve quality of life or improve your home’s value? Some renovation loan projects are nice to enjoy, but add little to home value. Other projects have a huge impact on resale value. For example, you may get a better return on a home improvement loan for the following projects:
- Attic bedrooms
- Adding a deck
- Replacing siding or windows
- Kitchen/bathroom remodel
- Remodeling the basement
Just as home improvements are not all the same, neither are all home renovation loans the same. For instance, maybe you’ve already made home improvements and spread your expenses across multiple credit cards. Consider a debt consolidation loan to lower your interest expenses.
Now is the time for a Home Improvement Loan
Current rates make this an ideal time for home renovation loans. Whether you work with a general contractor or do the work yourself, CMI brokers can find the best renovation loan product for you and help you navigate the home improvement process:
- How much will your project cost?
- Are you prepared for cost overruns?
- How will your improvements affect your homes total appraised value? (it’s rarely a dollar for dollar gain).
If you are looking at financing renovations to your home, contact an accredited CMI broker today to discuss a home renovation loan!