All Topics > Real Estate Resources > Financing > Financing Home Improvement Projects > How to Finance a Home Improvement Project >

How to Finance a Home Improvement Project Georgia

Thinking about a home improvement project? Knowing the needs of your project can help you choose the right type of financing.

Local Companies

Capitol City Bank & Trust Company
(404) 752-6067
562 Lee St SW
Atlanta, GA

A & C Mortgage LLC
(678) 822-0400
3042 Oakcliff Rd
Atlanta, GA

AAA Direct Mortgage
(770) 448-7796
3955 Pleasantdale Rd
Atlanta, GA

Cummings Mortgage Co.
706-295-7165
111 Bridgepoint Plaza Ste 302
Rome, GA

Countrywide Mortgage Corporation
770-414-6600
100 Colony Square, 1175 Peachtree St.
Atlanta, GA

Novation Mortgage
678-698-3557
2501 E. Piedmont Road
Marietta, GA

Option 1 Finanical
678-232-0828
2380 Buford Dr Suite 106-328
Lawrenceville, GA

1st American Capital LLC
(404) 588-5500
191 Peachtree St Ne
Atlanta, GA

Allied Home Mortgage Capital Corp.
770-939-7075
2179 Northlake Pkwy
Tucker, GA

American Source Mortgage
678-683-6239
10882 crabapple road
Roswell, GA

provided by:

Need to finance a home improvement project? There are several options available. Knowing the needs of your project can help you make the right financing choice.

Before you choose how to finance your home improvement project, consider just what your renovation entails. Are you just making cosmetic improvements to a dated bathroom? Ripping out wallpaper, painting, and replacing faucets? That isn’t going to require a major loan. However, if the plan is to gut your kitchen and replace everything, it may require some serious money. It’s smart to know how much money your home improvement requires and when you’ll need to make payments before deciding how to finance your renovation.

Here are some of the choices available.

Using home equity
For major renovations, you may need a significant loan. Your home equity is a great resource to for securing financing. If you have built up equity in your home, you can access it in a variety of ways.

Cash-out refinancing – If you have substantial equity in your home, you can refinance to a mortgage with a higher loan amount. The lender cashes out the difference and pays that equity to you. You can then use that to finance your home improvement project.
Home equity loan – Another option for using your home equity to finance a home improvement project is through a home equity loan. Instead of refinancing the first mortgage, a home equity loan lets you use your equity for a second mortgage. The money comes in one lump sum. A home equity loan typically has lower closing costs than a first mortgage, but may have a higher interest rate.
Home equity line of credit – A HELOC is a revolving line of credit secured against your home’s value. If your home improvement project is DIY or a pay-as-you-go project, a HELOC can work for you. You access the money as you need it, usually through a checkbook or credit card attached to the loan.

Using a personal loan or line of credit
For less costly home improvement projects, consider a personal loan or line of credit. It’s not secured against your home, which means a higher interest rate, but it also means you aren’t tapping into your home equity unnecessarily. This type of loan is also not going to help you out with the taxman – it’s not tax deductible whereas the choices above typically are.

Using a credit card
A creative way to finance a renovation is through a credit card. If th

Featured Local Company

Capitol City Bank & Trust Company

(404) 752-6067
562 Lee St SW
Atlanta, GA

Read more about How to Finance a Home Improvement Project

- Home Improvement: Adding value to your house before you sell Georgia

Consider simple home improvement ideas if you are planning to sell your house.

- Home Renovations That Pay Georgia
- How To Get a Reverse Mortgage Georgia
- Remodeling Can Pay Off Georgia
- Buying Home Options Georgia
- Buying a Mobile Home Georgia
- How to Work with a Contractor Georgia
- Questions to Ask Before Hiring a Contractor Georgia
- How to Avoid Common Do-It-Yourself Mistakes Georgia
- Paying for a Home Renovation Georgia

Regional Articles

- How to Work with a Contractor Georgia

Follow our tips to ensure that your home improvement project comes in on time and on budget. Follow our tips to ensure that your home improvement project comes in on time and on budget.

- Remodeling Can Pay Off Georgia
- Paying for a Home Renovation Georgia
- How to Avoid Common Do-It-Yourself Mistakes Georgia
- Home Renovations That Pay Georgia
- Home Improvement: Adding value to your house before you sell Georgia
- Buying a Mobile Home Georgia
- How To Get a Reverse Mortgage Georgia
- Buying Home Options Georgia
- Questions to Ask Before Hiring a Contractor Georgia

Related Local Event

2Nd Annual Real Estate Industry Day
Dates: 9/18/2009 - 9/18/2009
Location: Holiday Inn Decatur
Decatur, GA
View Details

Advertising	Food & Beverage	Nightlife
Business Services	Franchise	Online Database
Career	Health	Pets
Cars	Holidays	Real Estate Resources
Computer Hardware	Home Appliances	Retail & Consumer Services
Construction	Home Electronics	Software
Education	Home Services	Technology
Entertainment	Industrial Goods & Services	Telecommunications
Environmental	Insurance	Trade Shows
Family	Internet	Travel
Fashion	Legal	Weddings
Financial Services	Miscellaneous	World History

Advertising	Family	Home Services	Real Estate Resources
Business Services	Fashion	Industrial Goods & Services	Retail & Consumer Services
Career	Financial Services	Insurance	Software
Cars	Food & Beverage	Internet	Technology
Computer Hardware	Franchise	Legal	Telecommunications
Construction	Health	Miscellaneous	Trade Shows
Education	Holidays	Nightlife	Travel
Entertainment	Home Appliances	Online Database	Weddings
Environmental	Home Electronics	Pets	World History