Im looking to buy a house that needs a good amount of work. I dont have extra money to pay for the remodeling. But I have read that i can possibly get some sort of home improvement mortgage that will give me extra money to fix up the house. Rather than buying the house and then having to get a reappraisal and then a home equity loan.
Posts Tagged ‘Improvement’
Loan for home improvement with no equity?
29
May
I’m looking to build a second floor onto my home.
We just bought the home in November/December of 2006 and have only made minor improvements and a full kitchen remodel. We got a great interest rate on our loan and don’t want to refinance. Then again we wouldn’t have nearly enough equity to finance the addition if we DID refinance.
What options do I have for a loan? I’m looking for a loan of $75,000 – $100,000 for a full second floor addition (3 beds and a bath) and a single-stall detached garage. The improvements should be well worth the money; not to mention that in making the improvements it would allow me to stay in the home for years rather than selling next year (starting a family…).
I did a quick search on Zillow. The house is currently worth about $10,000 more than we owe, and the improvements would boost the value to well over the loan amount. (Yes, I know that Z is not the most accurate.) I live in northeastern Massachusetts, if that matters.
Any ideas?
Few small points:
My home is the smallest in a wonderful family-oriented neighborhood. My one-bedroom home is nestled into all of the three-plus homes, and looks like a dwarf! 
My hope is actually to NOT sell this house. My husband and I bought it off a couple that HAD to sell as she was pregnant. Now, looking to start our own family, we need a bigger place ourselves. My thoughts on what the house WILL (granted, might) be worth is only the idea that I would have the equity when the process is complete.
Also, I have a “real time” quote from a highly respected contractor who happens to be a family friend. We will probably get a good deal from him, but I’m not banking on that.
If you have a lien on your house can you get a home improvement loan on the property?
24
May
The property is financed through a private party, not a bank or mortgage co. Can you get a home equity loan to fix it up? Or a home improvement loan? even though there is a lien on the property?
What is the percentage of home improvement loans that are financed?
22
Apr
Where can I find such information?
Need a Home Improvement Loan for a house I purchased 2 years ago in Texas?
15
Mar
I looking to get a Loan for $5500.00 – $7500.00 to fixup my house. I’m a first time home owner and purchased the house as a forclosure through an FHA Home Morgage Loan. I don’t have much equity built up, but I’m looking for any options available. Government Loans or Grants, First Buyer Home Improvement Loan, Any advise will be appreciated. Thanks
Should I get home improvement loan or refinance with cash out?
04
Mar
I want to refinance my home to take advantage of lower interests rates. I also want to renovate my house since it has severe structural problems.
Should I refinance and get cash out to use for home improvement or should I refinance without cash out and get a separate home improvement loan?
What is the difference between the two scenarios?
Bad Credit Home Improvement Loan
28
Nov
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19
Nov
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Home Improvement Loans Rates
05
Nov
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How To Home Improvement- Home Equity Loan – Www.quityloan.com
16
Oct
How to Home Improvement- Home Equity loan – www.quityloan.com
Why are Home Equity Loans a Good Solution for Financing a Home Improvement Project?
16
Sep
There are many types of loans suitable for home improvements, however, the one known to be the most popular one is a Home Equity Loan. Any one who has applied for a mortgage and has available equity that can be cashed out may apply for a home equity loan through an equity lender.
A home equity loan will is also a way to get cash for other expenses like: paying for medical bills or for college tuition. The rates offered by most lenders are relatively low, because of the home acting as collateral.
You must have a fixed monthly income in order to be able to liquidate your equity. Very few lenders will agree lending money to a person that doesn’t have a job because they can’t know if you one will be able to pay the loan back on time. In order to get the best home equity loan rates, make sure you have a high credit score and if possible – shorten the loan’s repayment term.
Home Equity Loans for People with Bad Credit Scores
Although this type of loan is a secured loan meaning that the lender isn’t in a high risk when lending a person the money, bad credit ratings have a negative impact on the loan’s interest rate. A home equity loan for bad credit ratings can be obtained through sub-prime lenders and by shortening the payment term – one might find lower rates.
Compare Home Mortgage Lenders for the Lowest Rates
Home Mortgage Lenders often offer additional services such as mortgage refinancing, debt consolidation loans and home equity loans. By comparing several equity lenders online you will eventually find the best rates and home equity loans options. Bad credit home equity loans will be helpful for any consumer with credit problems.