How to Pay For It - Read This Before You Ask the Bank for Money
Tuesday, February 12th, 2008From the scary headlines about a “mortgage meltdown”, you’d think getting a home equity loan these days was harder than finding a scotch and soda in Riyadh. But in fact, homeowners with good credit are having no trouble securing money for renovations. And interest rates have even come down slightly in the past 12 months. They only change is that banks have stopped handing out cash on crazy terms. You’re now required to document your income, for instance, and you must actually have equity in your house to borrow against. Here, the pros and cons of the three most common loans for funding renovations.




investment property