Author Login | Popular Articles | RSS Feeds | Sitemap

Home | Home-and-family | Home-improvement


When Are Home Improvement Loans Necessary?

By: Jerry McKinish

Some homeowners find it necessary to apply for home improvement loans because they may lack the necessary budget or don’t have enough savings to finance their home improvement project. Even a secured personal loan may serve as a source of home improvement loans.

In the US, it is possible to get home improvement loans either for projects that you hired a contractor for, or for do-it-yourself projects. Some lenders stipulate that their company will be responsible for releasing the checks representing the amount to be paid to the home improvement supplies company or to the contractor. For do-it-yourself projects, the lender may send the check to the home improvement supplies company instead of giving you the money outright.

If you prefer getting a lump sum, you might apply for a home equity loan which means your home will be assessed by the lender for the amount of equity it presently has and the corresponding value of the loan you (and your home) qualify for. A home equity loan is advantageous because the payments are stretched out over a longer pay period. $50,000 loans to remodel your home fall under this category – meaning, you will be granted a loan of $50,000 if the lender believes your home has at least that much in home equity left in it. This is a good strategy to pursue if you want to make your home increase in value for the long term, because the loan allows you to make necessary repairs and upgrades of your home. In effect, you can command a better price for your home later on.

If you are trying to get a federal grant, you may want to examine the Title 1 loan offered by the Federal Housing Administration under the Home Mortgage Insurance Division of the Office of Housing of the HUD. Although the HUD does not itself offer home improvement loans, the Federal Housing Administration may help you find a lender who will lend to you (provided the lender is accredited with the HUD.)

Some cities in the US offer a city rehabilitation loan program to homeowners in the low-income wage bracket so that they can undertake home improvement necessary to keep their residence livable. These loans require repayment at low interest rates, though. Check with your city government regarding how long it takes to apply for the loan, and the particulars about how it works. You should also inquire about who gets approved for such loans and where to apply.

Regardless of what loan you get, you may have to get acquainted as well with the process of finding an approved contractor. Some contractors operate without accreditation, since not all homeowners are so particular about who they hire. The advantage with hiring an accredited contractor is that the contractor is required to adhere to certain standards in the way he runs his business, which gives you more peace of mind, knowing that you can always file a complaint against the contractor and his company if he doesn’t do the job right.

Article Source: http://www.articlesnatch.com

About the Author:
Extreme Makeover Pros is your affordable contractor serving Orange County, Ca. for nearly 25 years. Specializing in Home Improvement and Renovation. For more details visit http://www.extrememakeoverpros.com

| Print | Ezine Ready | |

Recent Home-Improvement Articles

  • Custom House Plans – Finding Quality Custom Home Design With Design Alternatives By: Bill Browne - Drawing custom house plans is an expansive industry, but finding a quality designer with construction experience can be more difficult. Although many individuals claim to be qualified custom home designers, you can determine these qualifications by examining their finished product and verifying satisfaction with their former clients. Quality designs, highly detailed house plans and customer satisfaction are all attributes of an experienced custom home designer.
  • Different aspects of Roofing By: N Singh - We need roof to ensure security over our head. However, it is matter of comfort and if your financial condition is good then it enhances your reputation in the society as well. Hectic daily schedule may not allow you to remodel or restore the roof of your house.
  • Types of methods of fixing Balcony structures By: Kate Smith - How do you choose the correct method to fix a balcony to your structure and what are the advantages of each. Cantilevered balconies: These are balconies constructed in a manner so that the balcony protrudes from the face of the building without any visible supports other than the fixing to the face of the building.
  • Decorate your home with some basic decorating ideas By: Edina A Jones - Interior design is the art of designing the inside of your room. If the world of your dream doesn’t exist, you can always build one to great perfection. Just allow your passion to drive your imagination. You can soon find yourself in the realms of a dream world. To see the same old thing, day in and day out, can be quite monotonous.
  • Adjustable Beds and Tempur-Pedic mattress- To reduce Your Back Pain By: Moe Kittaneh - When you are choosing your mattress, you are choosing your most used and important piece of furniture in your home. If you sleep the average eight hours a day, and expect to keep your mattress for at least ten years, you will have spent 29,200 hours on this piece of equipment!
  • Garden greenhouses - What`s best for you By: Gareth8 Taylor8 - Garden greenhouses - What`s best for you Gardening is one of the most demanding hobbies of house owners. It is a slow and effortless practice but this can prove to be a serious advantage when it comes to preserving natural resources. This passion for gardening steered many suburban lifestyles to become environmentally aware and create beautiful spaces to enjoy and live.
  • Coffee Tables By: James K. Johnson - Recently a popular trend in restaurant furniture and bar furniture has been to move away from regular dining height tables and chairs and towards attaining a more comfortable and informal look by using sofas accompanied with coffee tables. This has led to bar furniture suppliers sourcing and offering a wide variety of coffee tables to suit almost any situation.
  • Medical Benefits of Tempurpedic Foam Mattress and Adjustable bed By: Moe Kittaneh - There are many medical advantages that are associated with adjustable beds. Adjustable beds have been said to improve circulation, help to reduce lower back pain and tension, improve breathing conditions, help with acid reflux, and many other benefits. A good majority of these advantages come from the ability to easily put the sleeper in the semi-fowler position.
  • Retractable Screen Doors – For Comfort and Luxury By: Michiel Van Kets - Embrace the natural daylight and enjoy an oasis of fresh air and stunning scenery that will surround you with retractable screen doors from Stoett.com. Retractable screen doors offer a trendy and functional option to make the most of your sunroom, hobby room or garage and are the ideal finish to any entryway in your house.
  • Environmental factors that lead to masonry problems By: Badeth Abonita - Engineers and homebuilders can minimize the occurrences of physical degradation on the structures they built but they are set to battle with the forces of nature first. Here is the list of environmental forces that contribute to common masonry Colorado failure or deterioration Changes in Temperature Stone, like all building materials, expands and contracts due to the change in temperature. The most vexing result of this is cracking.

Search Ebay

Still can't find what you are looking for? Search for it!


Submit Your link to the Open Link Directory Project

Copyright 2005-2008 MJE Sales, LLC. All Rights Reserved.
Proud member of the ArticleCkr Search Network Search Network!
ArticleSnatch.com is free for both publishers and authors to use and is supported entirely from advertising revenue.
Use of our service is protected by our Privacy Policy and Terms of Service.