There’s never been a better time to remodel. Interest rates are low and this makes for a great climate for financing your remodeling project.
Now is the best time to remodel! Interest rates are low and this makes for a great climate for financing your remodeling project. Whether you get a construction loan or roll the remodel into the refinancing of your home, there’s never been a better time.
As we enter the winter months and your family is snuggled around the fire, it’s the perfect time to dream of your plans for your home. Perhaps you’ve been wanting a new kitchen or a new family room addition. By refinancing, you may may be able to keep your house payment close to its current amount and have a new remodel, depending on your interest rate and the size of the remodel.
We recommend that you see your lender and get the paperwork rolling as early as possible. While the bank is working on your loan application, a design/builder can work with you on the design of your remodel. This process can’t be begun too soon, as it can take some time to sort through the various options and settle on a design. The finished design should include layout, dimensions, materials and all the details that will impact the price of the project. Your lender may require plans, an estimate from your builder, and a signed contract to close on the loan.
So take advantage of the current economic climate. Talk to your builder and lender today.