Building a new deck, getting new doors and windows, upgrading to a your fence and other home improvement projects are great ways to increase your home’s value. However, these projects do not come cheap and, without proper foresight and planning, can easily throw you off your budget. What many of our customers do not know is that, depending on your credit standing, there is usually more than one financing option available to you. It’s important to understand these options so you can choose which one is 100% the right fit for you.
Since 1919, our expert builders and professional contractors at Guarantee Fence Company have helped countless homeowners finance their fence construction successfully. Let our professionals explain the many different financing options you can take for your own home improvement project.
One advantage of this option is that it will pay off your existing mortgage, allowing you to lower your rates and monthly payments. The extra breathing room should be enough to cover the cost of getting fence services for your home. Be careful, however, as you’re essentially taking on a long-term loan for a short-term expense. This option is usually only useful if your home improvement project adds value to your home.
Home Equity Loan and Home Equity Line of Credit
Home equities will not necessarily pay off your mortgage in exchange for a newer and smaller loan. They will, however, provide you with either a line of credit (HELOC) or a lump sum at typically a percentage of your home’s value. Interest rates are also usually lower for these types of financing options, but they do tend to last a while, about 10 to 15 years, depending on the type of equity you have.
At Guarantee Fence Company, we are your leading provider of remote and farming fence installation as well as other related products and services. Give us a call at (812) 650-5750, or fill out our online contact form to schedule a free consultation and get a quote today.