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4 Ways to Finance a Home Renovation

Sep 25, 2019 8:00:00 AM

home-renovation-blog

Home renovations can be rather pricy, depending on what you’re looking to do. Luckily, USALLIANCE has financing options for every price range. Here are 4 ways you can finance your home renovation with USALLIANCE.

  1. Home Equity Line of Credit. Home Equity Line of Credit (HELOC) is an open credit line that is secured by your home’s value. HELOCs offer flexible terms and lower upfront costs than most other loans.
  2. Home Equity Loan. A Home Equity Loan (HEL) allows you to borrow a fixed amount of cash, which you receive in one lump sum. However, upfront fees can be high.
  1. Credit cards. Credit cards can work for minor touch-ups, but funding bigger projects this way can leave you with steep interest payments and end up costing much more than planned.

  2. Personal loans. Personal loans are short-term loans that sometimes have high interest rates and upfront fees.

When you’re ready to take on a home renovation project, give us a call. Our lending team is available to discuss your options and help you choose what’s right for you!

Topics: Borrow

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