House Kitchen Remodel: Home Remodeling Loan

I will never forget the summer when my wife and I decided to redo the kitchen: Between the dust, the delays and the dirty dishes in the bathroom sink (not to mention she was pregnant) there was plenty of stress. When undertaking a major home renovation There is a wonderful alternative for this kind of a requirement in the form of a home improvement loan which most of the home loan borrowers are eligible for. Eligibility: The basic eligibility criteria for the home improvement loan are quite simple. This is a guest blog post by Ryan Carey, of My 3 Quotes. Tell me if you can identify with this scenario- You bought your house before 2008, when values were at their most inflated. Your credit isn't bad, but you still don't have any equity since your house (BPT) - If you’re planning a home improvement project this year, you’re in good company. The economy and housing market are recovering, home values and equity are rising, and many homeowners are beginning projects they had put off over the past few years. If you’re in a hurry to move, this is not the loan product for you. You can also expect to pay a higher interest rate because of the increased risk associated with home-improvement loans. These loans are also more work for lender and require specialized financing the more high-end, costly projects through companies who specialize in home-improvement loans,” she said. “The average homeowner we work with doesn’t have significant personal savings to throw at a big remodeling project,” she said. .

Loans for home improvements can help boost your equity, property value and personal wealth. Improving your home is one of the best investment activities you can do. This is because when you sell your home, any capital gains you've made are completely tax free. American homeowners in 2012 spent more on home improvement projects than they did the previous year -- by about 9 percent, according to numbers from Harvard University's Joint Center for Housing Studies. While the recession led many Americans to put off Research has shown that lack of access to housing and land is responsible for social evils. While the housing deficit has been pegged to be between 16 to 17 million, a good percentage of Nigerians are low income earners as such having a mortgage system The Home Renovation Loan scheme initiated by the Federal Mortgage Bank of Nigeria has attracted commendations as well as suggestions from experts in the built environment. While they described it as apt, the experts noted that the FMBN should consider .