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Paying for a Home Renovation Florida

Financing options like cash-out refinancing and home equity loans make paying for your dream renovation a reality.

Local Companies

Gulf Atlantic Industries, Inc.
(305) 937-0500
18305 Biscayne Blvd, Suite 210
Miami, FL

TERRY OLSSON CUSTOM EXTERIORS
727-857-9091
17441 MEDLEY AVE
SPRINGHILL, FL

WCI Group Contractors
(904) 242-4444
1100 Shetter Ave. Suite #203
Jacksonville, FL

Affinity Marble
352-369-3558
1020 NE 16th street
ocala, FL

TOM'S HANDYMAN SERVICES
941 214 0424
2429 Larkspur Dr
Punta Gorda, FL

Royal Florida Management
561-995-2100
2900 N. Military Trail
Boca Raton, FL

PrestigeCore Home Remodeling & Improvements
407 256-0397
860 north orange ave #350
orlando, FL

Cabinets For Less
863-688-6110
717 n florida ave
lakeland, FL

East Coast Lamps.com
1(352)307-7601
14887 se 41st court
Summerfield, FL

ALL HOME SOLUTIONS
407-227-6403
1832 ropper rd
st. Cloud, FL

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A home renovation is a chance to create the home of your dreams out of your current house. However, it may cost quite a bit to create your dream home. If you don’t have the cash to pay for renovations and don’t want to wait years until you’ve saved enough to pay for it, you still have options. You can finance your dream renovation in a variety of ways:

Mortgage refinancing
Got a lot of equity built up in your home? You can use that equity to finance your home renovation project. One way to do that is through cash-out refinancing. In this scenario, you refinance your first mortgage to a higher loan amount. You then cash out the difference and use that money to pay for your projects.

Do you have big structural changes planned for your home renovation? Planning an addition that is going to add a lot of value? The lender may even approve your new loan based on the value of your home after the improvements, giving you more money for the renovations.

Home equity loan
You don’t have to refinance your first mortgage to get money to renovate your kitchen. Instead, you may want to consider a home equity loan. It uses the equity you have built up in your home for a second mortgage. You get the money in one lump sum, good for renovations with a contractor where you have to pay the full amount upon completion. Although a home equity loan typically has higher interest rates than a first mortgage, it also usually has lower closing costs.

Home equity line of credit (HELOC)
A HELOC is another good option for home renovations. A HELOC is a revolving line of credit secured against your home’s value. You can get the money as you need it by using a checkbook or credit card attached to the loan. A HELOC is great for pay-as-you-go projects. Plan to complete the renovation in stages? Then, a HELOC may be your best bet. You make payments only on what you use and sometimes you even have the option of making interest-only payments.

Personal loan or line of credit
Is your project too small to justify using your home’s equity? Maybe a personal loan is the right choice for you. It’s not secured against your home so you’ll have a higher interest rate, but you’ll also have much lower fees. So, if your renovations are just cosmetic improvements to your home, you can avoid tapping into your home equity with a personal loan.

You can also get creative wi

Featured Local Company

Gulf Atlantic Industries, Inc.

(305) 937-0500
18305 Biscayne Blvd, Suite 210
Miami, FL
http://www.remodelsouthflorida.com

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Regional Articles

- Should you buy and renovate a home? Florida

It's important to weigh the advantages and the disadvantages before deciding whether to take on a home renovation.

- How To Make Sensible Investment Decisions Florida
- Home staging -- easy ideas to do it yourself Florida
- Home Renovations That Pay Florida
- Remodeling Can Pay Off Florida
- How to Finance a Home Improvement Project Florida
- Move vs. Renovate: How Do You Decide? Florida
- How to Avoid Common Do-It-Yourself Mistakes Florida
- Home Improvement: Adding value to your house before you sell Florida
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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