Fix It Up This Fall
Fall is a great time to start planning for all your home improvement projects. If you have equity built up in your home, a home equity loan could give you the funds you need to get started.
Home equity is the portion of your home that you truly own. As you pay down your mortgage and your home’s value changes, you may build equity that can be used to help fund other financial goals.
A home equity loan allows you to borrow against that equity and receive the funds as a lump sum. Depending on your needs, those funds could help cover a variety of home improvement projects, such as:
- Updating the kitchen or bathroom
- Replacing flooring or windows
- Finishing a basement
- Improving your home’s energy efficiency
- Tackling necessary repairs or maintenance
Getting started now can help you take care of repairs before winter arrives, make your home more comfortable for the colder months ahead, or finally begin the renovation you’ve been putting off.
Before picking out paint colors or scheduling a contractor, take some time to determine what your project will realistically cost. Consider materials, labor, permits and any unexpected expenses that could come up along the way.
Once you have an idea of your budget, you can explore your financing options and determine whether a home equity loan is right for you.
We’re here to help you understand your options and make informed decisions about your home and your finances. If you’re ready to give your space a fall refresh, talk with our mortgage lending team about whether a home equity loan could help make your plans possible.
Equal Housing Opportunity | NMLS#: 794524