Posts Tagged Home Improvements
Doing a renovation will increase the value of your home.
But there can be pitfalls, if like anything else you don’t have a plan in place to pay for it.
Many home owners will use all sources of their available credit to pay for the improvements as they work progresses. The situation becomes difficult when all sources of credit become maxed by the time the work is done. Making numerous payments can be a struggle, so a refinance or consolidation is often the only way to turn. The problem is if all credit is maxed out, your credit rating is likely impaired, sometimes to the point that your bank can’t lend because of your credit score.
You might have painted yourself into a corner so to speak.
This is why considering a Home Renovation Mortgage at amazing rates should be part of the renovation plan!!
Check out the best rates so you can determine what the improvements will cost with one low payment.
Yes that’s right, whether you are buying or refinancing, you pay for your renovation within your low rate mortgage through CMHC or Genworth
You’ve got the tools, so just apply today and get a Renovation Mortgage!
This article is courtesy of Elfie Hayes of Mortgage Intelligence in Oshawa.
Home buying, refinancing, renovation and home improvement, commercial lending, reverse mortgages and more.
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