In this video I talk about the question I get from clients... Should I borrow to renovate my home?
I wrote an article that discusses this topic, you can read that article here:
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We review the different options for financing a home renovation:
- Savings
- Personal Loan or Line of Credit
- Mortgage
- Home Equity Line of Credit
- Second Mortgage
I then review the PRO's and CON"s of financing a renovation and then I review what factors you might want to consider if you are financing and completing a home renovation.To calculate how much mortgage payments would be, you can use this calculator on my website:
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If you are considering a renovation with a cost under $20,000 then a personal loan may be a better option than a mortgage. There are no set up fees for a personal loan compared to a mortgage where you might pay legal fees and appraisal fees. Apply for a personal loan here:
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If you have questions, please ask in the comments below. If you would prefer to connect with me privately, then connect on my About Page:
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Check Your Credit. If you aren't sure about your credit rating and don't want to speak with a broker or your banker yet, you can check it yourself.
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Repair Your Credit here: [ Ссылка ]
If you have some issues from the past, it's important to improve your credit so that you can qualify to purchase a home and also qualify for lower interest rates when you apply for loans.
Don't need a mortgage? Looking for a loan instead? Visit this website:
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