One of the great things about living in Union LA is watching your family grow alongside you as you enjoy one of the best natural settings in the state. What to do then, when the size of your family starts to outgrow the home that you have been living in for years?
You could go to the bank and look into taking out a equity line of credit. You could also do the same with local mortgage brokers like Sun Mortgage Funding. Recently, however, the number of lines of equity has gone down and probably will stay down until the real estate market fully recovers.
With mortgage rates at all-time lows recently, another option for you is to look at a home renovation loan. Sun Mortgage Funding offers home renovation loans in Union Parish and would be happy to talk with you about the benefits of making home improvements using a home renovation loan. In a nutshell, because home improvements or adding on are the reason that you are getting a loan, it is actually easier to qualify because the equity in your house is being put against actual improvements in your house.
There aren't a lot of home improvement loan companies operating in Union LA that have the breadth of experience that Sun does in helping you complete a mortgage refinance. By getting a home renovation loan as a way of achieving mortgage refinance, you can also take advantage of the current mortgage rates to pay very little interest on the loan.
One thing you want to consider before you go to mortgage brokers or home improvement loan companies to get a quotation is what would you use the money for?
If you are considering selling your home in the forseeable future, you might consider looking at a kitchen remodel or adding an extra bathroom, both projects that historically seem to add the most value to your home. If your family is growing and you'd like to stay put in the same location, adding an extra bedroom or another floor to your house are options that are quite popular and also help your home maintain your value. If your children are teenagers or you have an elderly parent staying with you, you could even consider adding a separate guest house that complements your own home as part of a compound.
Whatever your project, if you have home equity, home renovation loans can be had that can likely finance your entire project. Call us today to schedule a free consultation! 1-800-370-2292