Home repair loans provide financing for home improvement projects. These projects can become expensive, and sometimes financial help is needed. Here are some basic reasons to get a home improvement loan for your project:
An unsecured personal loan is great for small to mid-sized undertakings. For example, you may want to add new flooring and countertops in your kitchen, or upgrade your bathroom.
This type of loan is typically easier to obtain than home equity loans, but your credit score and income information are still big factors. These influence your monthly payments, loan amount and interest rate.
A common reason for home improvement loans is to increase the value of a property. This loan allows you to complete projects that may make your home more appealing on the market. You might also need a home improvement loan to make your space more comfortable.
Forgo putting your home at risk
Unlike a home equity loan, home improvement loans are safer. You don’t have to offer collateral to get this type of loan. Unsecured personal loans are primarily obtained through personal information. This includes your credit score and income.
Quick financing
Home improvement loans are fairly quick to receive. You can be given a lump sum amount for the whole loan. In some cases, you can receive this funding within a day.
Increase the value of your home
Home improvement projects can boost the value of your home. Valuable additions like finishing a basement or building a deck can produce major returns on your investment.
When it’s time to start home improvement projects, proper financing is a must. You may require a personal loan, or your project may be larger and require a secured loan. Speak with a local lender to find out which loan options are best for you.
Kimberly Kelly decided to get her real estate license when she moved to South Orange with her family and fell in love with the classic, period homes of the area. Having worked in the city for many years for LexisNexis, Kim understands the appeal of an easy commute to NYC. That’s why she specializes in towns along the Mid-Town Direct train line, offering welcoming communities, good schools, and space to grow.
Very active in her children’s school PTA, Kim knows firsthand how important a school system is to parents looking to make the move to the ‘burbs. She volunteers with fairs, fundraising, and other activities that bolster support for education. Kim also believes involvement in the greater community enriches us all and has sat on various boards & associations throughout the years.
Kim Kelly has lived many places throughout her life, from Pennsylvania to Oregon, but has found New Jersey to be the ideal place to raise her family and put down roots. She loves nothing more than helping others discover their special place as well. Kim’s extensive knowledge of the area, combined with her sense of community, offers clients a personalized guide to finding the right house - and town - to call home.
