Remodeling? 3 Ways to Finance Your Big Project


Homeowners in search of funds to pay for home improvement projects have many options at their disposal. With so many options to choose from, it is important to take your time to assure that you choose the option that best fits your project needs and your financial situation. 

Zero Percent Credit Card

Many homeowners consider credit cards to be a risky and expensive way to fund a home remodeling project. And while there is a degree of risk involved, credit cards are a viable option to pay for your big project if used correctly. 

A credit card that does not require interest to be paid on purchases allows homeowners to spread the cost of their renovation projects over time and to not be penalized for the money they use for these projects. Many of these cards also provide the user with reward points for making purchases. 

Credit cards that offer zero percent interest on purchases only do so for a limited time. So, this option is most effective for homeowners who are sure they will pay off credit card balances before the zero percent introductory period is complete. 

Unsecured Home Improvement Loan

A second option to fund a home renovation project is to obtain an unsecured home improvement loan from a bank or other financial institution. Unsecured home improvement loans have many advantages over cash or home equity lines of credit when it comes to financing your home improvement projects.

Unsecured loans do not require the borrower to provide collateral and will not affect the equity in your home. The approval process for a home improvement loan is actually a little quicker than other types of loans, and this type is often funded within a week. 

Home Refinance

Refinancing your home to fund a remodeling project entails replacing your existing mortgage with a new mortgage. You will also be able to withdraw some or all of the equity you have in the home in cash. This is a good option to fund large projects and is especially beneficial with today's inexpensive mortgage rates. Home refinance loans provide homeowners with a lot of time to pay off the cost of their home remodeling projects and often come with lower interest rates than other types of loans. 

There are many options available to homeowners who need money to fund a remodeling project. The key for homeowners is deciding upon the option that best suits their project needs and that is the best choice for their financial situations. The three financing options above should be considered by every homeowner in search of money to remodel their homes.


If the scope of your home renovation project feels too large, let professionals help! Calling upon the help of professionals will be slightly more expensive, but the quality will be more than worth it. 

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