For instance, if the lender appraises your home at $300,000 and you have a $150,000 mortgage balance, the equity value of your home is $150,000. If your credit meets the lender's requirements, you will usually qualify for a loan of at least 75 percent of the equity, or $112,500. When you take out a home equity loan, it is essentially a second mortgage, and you pledge your home as collateral for the loan. Getting an Improvement Loan Some lenders may call their unsecured or secured loans home improvement loans for marketing reasons. These loans can be used for any purpose, whereas a true home improvement loan is based on the appraised value of the renovations you plan to carry out. When you apply for an actual home improvement loan, the lender requires you to obtain bids from the contractor you plan to hire for your project.
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Home Exterior Systems Expand Winter Home Improvement Offerings
Siding can be beautiful when well-maintained, but it also can become damaged from pests, termites, birds, the elements and more. When home siding is damaged, it can make the entire home appear to be in disrepair. Those who are searching for a great home improvement project to complete should consider working with Home Exterior Systems to add Hardiplank siding to their home. This is among the most reputable brands of siding available, and it is known for its overall durability. It is designed to resist most types of damage, and because of this, it can help a home to remain in great condition for years to come.
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Burst Media Home Improvement Survey Provides Brands Insight into Where to Spend Marketing Dollars
Men and women rely on different sources for home project inspiration. Between both genders, one's own imagination (44%) is cited most frequentlybut there are stark differences when it comes to the physical media outlets men and women turn to. Men and women differ on what kinds of sites are best for inspiration. More men than women prefer independent sites and blogs (31% vs. 23%); women prefer social network, such as Pinterest, Instagram, and Facebook, more than men (35% vs.
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