Make The Most Of Your Home Improvement Loan | Home Improvement Loan Interest Rates

Renovations to your home are a great way to increase its value, should you ever decide to sell it. But these renovations can be costly, especially for the average family. A home improvement loan is a great solution, and you may not have to risk your house to get it. In fact, these loans can be secured or unsecured, and tend to be good for your wallet. The interest rates on home improvement loans tend to be less than you would pay for a credit card, and you often can secure, minimally, a loan of $5,000.

How to Get the Loan

So how do you get a home improvement loan? The first step is to find a credible lender. This involves asking around for references, researching on the internet, and meeting with perspective lenders. Ask them questions about what kind of offers they can give you. Will you have to use your home as collateral? What are the rates for home improvement loans? What are the terms and conditions? After you’ve shopped the different competitors, pick an offer that works for you. Then the renovating can begin!

Work on the Money Spots

Now that you’ve secured the loan, you need to make that money work for you. By renovating your home, it will be worth more in the long-run. But spend wisely. Just because you spend money somewhere in the house, it doesn’t mean it’s automatically more valuable. Stick to the sweet spots—the spots prospective buyers tend to be most interested in. The bathroom, the kitchen, and the curb view. The bathroom and kitchen are the most functional rooms in the house, and are also the ones that become outdated quickly. And the road view is the first impression prospective buyers have of your home; why not make it a good one?

Often times, a simple amendment or renovation will be the most bang for your buck. A fresh coat of paint and new curtains completely change a room. But if your home needs vast improvement, you may need to put in an addition. This is usually done to add a bedroom or bathroom, or to give more space to an existing room. An add-on is definitely the most costly home improvement loans; one you want to spend extra time thinking about. Will the cost of the addition come back to you when you sell, or are you just adding more space for shock value? Can this added space be used meaningfully and fit in with the spacing of the rest of the home? If the answer is no to either of these questions, an addition may not be the best choice.

To improve the “curb appeal” of your home, you need to look at the house and yard with a fresh set of eyes. Does it looking neat and welcoming? Or unkept and dirty? Repainting the houses, fixing shingles on the roof, and adding nice shrubbery will do a lot for the overall look of the house. Clear out any clutter around the yard, look after your flowers, and mow the lawn. These simple steps are especially important while your house is showing, otherwise you’ve wasted money repainting and re-landscaping!

When dealing with home improvement loans, you’re bound to have questions. Real-Estate-Yogi.com has the answers to your problems, and can connect you with local experts. We’re also available at any time by phone at 1-800-987-1397. We’re standing by waiting to take your call 24/7.

Where to Obtain Financing for Home Improvements

Are you wondering how to finance home improvements? That’s a topic that many people question, and one that has no definitive answer. There are actually two primary ways to finance home improvements, but those two ways may actually translate into many smaller ways as well. It all depends on the lender.

Financing a Home Improvement Project

As a homeowner I have often come across the need to finance home improvement project. It’s certainly not something I enjoyed doing, but in all honesty, it was more difficult the first time around. I was able to get an unsecured loan because of my credit score, but some lenders will insist upon an interest in the house no matter how good your credit is. Real-Estate-Yogi-com provides some tips for making sure homeowners get the best deal from lenders that include:

• Ensure your credit report is accurate
• Get rid of any bad debts before applying for a home improvement loan
• Be aware of market interest rates including the fluctuation between those with excellent credit and those with poor credit
• Have an idea how much equity you have in your home
• Avoid taking out any new loans while your application is being processed

Real-Estate-Yogi can help homeowners secure the best rate on a home improvement loan. Our company can even help those who have less than perfect credit but need funding to make improvements. If you would like to speak to one of our representatives fill out the form you find on the website, and someone will contact you in just a little while.

Obtaining the Financing You Need

Where can you find financing for home improvements? There are various sources available, but I found the best place to begin was with my mortgage company. I didn’t stop there by any means; that was just my beginning point. From there I started looking at other lenders before I finally settled on the best one for my needs which turned out to be my local credit union. Real Estate Yogi helped me do the research and made sure I knew what I was doing before I made the final decision. I credit them with also making sure I had the best contractor for my project because they did an excellent job.

Applying for the Financing

When you need financing for a home improvement project, you want to make sure you choose the best lender. This means looking beyond the interest rate and repayment terms; I had to learn this when I financed my first project. While one lender may have a lower interest rate, if the repayment terms do not fit into your budget that won’t help you very much. I chose the credit union because they offered the best of everything. One online lender offered me an interest rate that was a little lower than the credit union, but they also wanted a second mortgage on my home (the credit union didn’t) and the payments would be very difficult to meet because they only wanted to finance the loan for seven years (the credit union offered ten).

There are many considerations a homeowner must make before choosing a lender for a home improvement project. www.real-estate-yogi.com has the answer to any questions you may have about financing your project. Would you like to set up a free consultation? All you need to do is call 1-800-987-1397 any time of the day or night.

Great Home Improvement Loan Rates For 2013

We have a beautiful old house that sits on the crest of a shallow slope and has a bubbling stream running behind it. We love it and have raised our children in it, and now it’s time to spruce it up a bit. We need to restore it to its former glory, but to do so, we have to look into home improvement loans. We’ve never had to take out such a loan before, and seeing as I’m the financial wizard (ha!) in the family, I needed to get some information on it, like what the going interest rates are and if they’re adjustable or fixed. I have no fear about being able to handle this search for enlightenment; I have Real-estate-yogi.com by my side, and I know I’ll get what I need there.

What? You don’t know about Real-estate-yogi.com? I thought everyone knew about it!. It has a wealth of property-savvy experts behind it, and they supply intelligent answers to l my questions, including those about home improvement loan options. Let me share some of what I learned from them. One loan that we can apply for is a HELOC, or home equity line of credit. AHELOC works like a huge credit card, so we can access the money as we need it rather than taking all of it at once. Of course, there’s nothing wrong with a home equity loan, either. This loan is based on the equity in our home, and its interest rate is pretty low. The only thing different from a HELOC is that the money must be taken in a lump sum, but that’s no big deal if you’re trying to improve your home.

I also found out that we could try for a personal loan to fix up the house. The thing about those is that you have to have a really good credit score – which we do – to get them. They can have either fixed or adjustable rates, along with terms of 10 to 15 years. AS far as being the best home improvement loans, I’d say probably not, but that’s just my opinion. Did you know that HUD (the Department of Housing and Urban Development) has loan choices to fix up your home? I have to admit that I didn’t until I saw it on Real-estate-yogi.com. They have loans for certain ethnic groups, single mothers and fathers, the elderly, and those living on a fixed (low) income. All you have to do is go to HUD’s website to get all the specifics you need.

www.real-estate-yogi.com is my go-to website whenever I need fiscal direction, and it should be yours, too. It has fonts of information about all things relating to property, and it’s free! Give it a call at 1-800-987-1397 at your convenience. You won’t regret it!

Finding Great Contractors To Make Home Improvements And Repairs

Your house goes through an awful lot each year in its goal of sheltering you and your family. From the extremes of weather, to the unexpected plumbing mishap your house will see it all and live to see another day. You've fixed a broken window pane, and resealed your driveway several times, but the year will come eventually where your house will need some serious tender loving care, and the costs associated may not initially seem to fit within your budget. Before it gets to that point let's look at how to finance home improvements or repairs, and how best to find local contractors in your area who will work within your budget to make your intentions come true.

• Home improvement loans are available through the government as well as lending agencies. The goal is to make improvements on the home that will increase the value of the home.
• Home equity loans are available through your mortgage lender. If you need to make sudden repairs on your home many people take out another loan against their equity in order to fund the costs associated.
• To effectively find a contractor you must seek the one most qualified for the job at hand. There are general building contractors, specialty contractors such as electricians, and engineering contractors who often do excavating.

What kind of contractor are you looking for?

Let's say you need a new roof. Most likely you aren't going to seek an electrician, or someone who installs septic systems. You are going to want to know how to find a roofing contractor. Many people find great contractors through friendly word of mouth and the chances are great that someone in your neighborhood has had roof work done recently and can refer you to someone. You can also look online for contractors. Look for professionals within your zip code who have a local business. Preferably they have been around for years and have a long list of successful projects. All too often people hire someone from out of state who will work for cheap. They install a leaky roof and disappear into the next state with your money while you are stuck looking for another roofing contract. By finding someone local with a good reputation you know they will stand by their service record.

Get several quotes

Have them come over and do a quote. If you can get a quote from two or more local contractors you may be able to negotiate a better deal for yourself. Residential roof repair can be expensive for the average homeowner. Mention their competitors prices and see if they don't drop their asking price down to out bid them.

Get it in writing

Get everything that will be done in writing. This is perhaps the most important thing. All materials and expected time spent on the job should be noted. With building projects you want to be covered in case things don't go as planned. A good contractor will want the same.

To learn more about home improvement plans and repairs and how to fund them visit www.real-estate-yogi.com. You can speak with a professional representative for free any time by calling 1-800-987-1397.

How To Find A Home Improvement Loan With A Poor Credit History!

My kids were all grown up. The last had just moved out into their very first apartment and I was spending my weekends fixing up the years of abuse a family of five can leave on a forty year old home. One thing that definitely needed updating was our kitchen. After taking out student loans and spending so much money on school tuition's I was pretty much broke. Neither I or my wife had good credit, so it seemed that getting a traditional loan to help pay for some home improvement projects was a long shot. That was before I learned that there are actually lending companies who will work with people with low credit scores. The key is meeting their requirements.

• Before you apply for a bad credit home improvement loan, see if there's any way you can improve your credit score, especially if it is below 600. If you're just under 600, by raising it just over 600 you could improve your interest rate by 3%.
• One way to secure the loan is to offer some type of collateral or security. Often this is any piece of valuable property like a vehicle title.
• Many people create their own grants for home improvement by tapping into their home equity. You can use this as either a line of credit or as a lump sum amount.
• Lenders will work with people with poor credit scores if they can find someone to cosign on the agreement that has a good credit score.

Bad vs. good credit

Bad credit home improvement loans are inevitably going to have higher interest rates. The purpose of credit scores is to create a basis for lenders to understand the risk involved in offering you a loan. So people with low credit scores are considered a higher risk of not paying back the loan entirely. When you borrow money, only borrow what you need for the home improvement project. Even if they are willing to offer more money, keep the principal balance of the loan small.

Using your home equity

If you want to tap into your home equity just be aware that these loans create a second lien on your property. If you end up defaulting the home improvement lender can take over possession of your home. However, if used properly home equity is an excellent choice for home improvement projects. I ended up using some of my equity to fund the home improvement of my kitchen. I even learned along the way that home equity loans are tax deductible, and I think my next project will be some solar panels. I hear the government offers tax breaks for people who make "green" additions to their homes.

I was fortunate to get great help from the good people at www.real-estate-yogi.com. Not only did they introduce me to loan brokers who helped me choose a method to pay for home improvement, they also taught me how to find a good contractor for home improvement. Call them today for a free consultation at 1-800-987-1397.

Improving Your Home With The Aid Of Loans!!

We had a young couple named Jon and Lucy moves into the house next door this past year. This house had been on the market for a number of years and it definitely needed a little bit of work. The last family had lost it to foreclosure during the housing crisis, and nobody had been taking care of it for at least a couple years. Naturally it needed a home improvement project and when Jon came to me for advice on the matter I admit I was a bit baffled. I began researching how young couples can find home improvement loans with no equity. Here is what I found.

Home improvement loans can often be found through the FHA with many programs for various income levels available. There are certain guidelines that need to be met however and it usually requires some sort of credit check.

• Home improvement lenders offer loans for all scales of home improvement projects. It could be a loan to remove old, ragged carpets, or loans to make major additions like new rooms or an updated septic system.
•  The smart borrower will have a specific goal in mind that will both update the house and make it more valuable. Good examples are homeowners who make "green" additions to their homes. These can often provide major tax breaks and save on utility bills.
• Home improvement financing for contractors can often be very expensive. Speak with your home owner's insurance company about available contractors in your area and find out the specific costs associated with your project before seeking any kind of loan.

Home Improvement Loans vs. Home Equity Loans

Regardless of the possibilities presented to Jon and Lucy, accessing unsecured home improvement loans could prove to be difficult. To receive home improvement loans the loan needs to be used to make improvements on a piece of property owned by the borrower. Often the homeowner should make an effort to prove that the improvements will increase the overall value of the home. Examples might be remodeling projects, decks, pools, room additions etc. Jon was looking to add a new roof and deck to the home since the old one was in a certain amount of disrepair. I felt he had a good chance at securing a loan if he could find the right contractor and price.

Since Jon was a young homeowner and hadn't been paying a mortgage there wasn't much equity to work with. If he could have acquired a home equity loan he'd be able to deduct the costs associated from his taxes. A general home improvement loan is a personal unsecured loan designed for short term use. Many homeowners like the fact that they don't have to tap into their equity to secure a loan. Home improvement loans also take less time to process than home equity loans. The interest rates are typically fixed with low monthly payments that can be paid off within 3-5 years.

What are your options?

However, the interest paid on a home improvement loan is not tax deductible like home equity loans. Because it is an unsecured loan it attracts borrowers with lower credit scores. It can be more difficult to acquire a basic home improvement loan with poor credit scores because lenders will often try to persuade the borrower to use their equity instead.

Get out your home improvement loans calculator today and see what options best suit your financial situation. Visit www.real-estate-yogi.com and speak with a representative any day of the week for free. They will guide you through your home improvement financing options. 1-866-987-1397.

How to fund a Home Improvement Project through a Loan or Grant Program

Thinking about some home improvements? Have you looked into the costs yet? Investing in your home is a great idea, but it can get pricey depending on the project you are intending to approach. Many homeowners would love to reinvest in their home to increase the overall value of their property, but between mortgage payments, utilities and other bills, they may not have the upfront money it would require to get a project started. How about a loan for home improvement? Let’s take a moment and look at some available options.

Check with you local and state governments first

The first place you might want to look for help might be the government because they have a wealth of potential options.

• The Department of Housing and Urban Development offers mortgage insurance programs for homes that need some work done to them. They fund loans and grants for general repairs.
• The Department of Economic and Community Development can offer you a loan if you make home improvements that lead to energy conservation's  lead paint abatement or emergency home repairs.
• You may be able to find help through the USDA, or the Department of Veterans Affairs. They offer loans and grants for home repairs respective to the town where the home is located. They also help disabled veterans with home repair and improvement projects.

State and Government Programs designed for your specific needs

State and Federal Government home improvement loans are designed to help people fix or improve their homes. These can be from state programs like a rehabilitation mortgage program available to low and moderate income people to purchase or refinance homes in need of repair. DECD funds several programs for your own personal home repairs. If you are attempting an energy conservation project like new insulation or furnaces, they offer low interest loans. Some state programs such as Homeowner Emergency Repair Assistance for Seniors Programs will offer low interest loans to repair homes for low income homeowners who are at least 62 years old. Homeowners can also abate hazardous materials from their home such as lead-based paint and asbestos. This can all potentially be funded by the government.

Ask the FHA for help

Check in with the Federal Housing Administration which is part of HUD. The loans you might receive through these programs come through FHA approved lending institutions. HUD will insure these loans, but HUD does not make direct loans to help people buy homes. Although there are home improvement loans for people with bad credit, if you have good credit you may look at the FHA insured 203(k) loan. This loan includes the mortgage and cost of repairs as well as a contingency reserve of between 10-20% for the total cost of remodeling to cover whatever extra work is needed that was not included in the original proposal. You can find a list of available lenders on HUD’s website.

The USDA has rural development loans and grants for repairs of existing homes. This is available in many rural communities and small towns between 10,000-20,000 people. Certain veterans with service related disabilities might be able to get a grant from the Department of Veterans Affairs. These types of home improvement grants would be to help make a home adapted to their specific needs.

For the best advice and direction available on the internet visit www.real-estate-yogi.com or call them directly for a free consultation at 1-800-987-1397. They can help you find home improvement financing for contractors as well as the best home improvement interest rates.