Fixer Uppers Homes
 

Home Improvement Financing

Home improvement financing or house repair loans

If you are getting a home improvement financing loan or a house repair loan, make sure the home improvement financing loan is fair. Don't pay expensive loan fees! Some home improvement financing lenders charge very high fees and costs, high interest rates, and some have a large "balloon" payment due at the end of the loan. The amount of the monthly payment is important, but the loan costs and terms are just as important!

Shop around for home improvement financing

Before settling for a home improvement financing program, you should shop around. Talk to a few different lenders that do home improvement financing. Compare home improvement financing loan fees and costs before you choose your lender.

Good faith estimate for home improvement financing

Lenders must give you a "Good Faith Estimate" (with details of the loan fees and costs) within 3 days of applying for a loan.

Home improvement financing loans from local banks or lenders

Contact a local bank or lender often they offer loans with much lower interest rates and fees than if you use the lender suggested by your contractor, or if you contact a BIG nationwide lender with a BIG advertising budget.

Low cost government financing for your home improvement?

Many contractors will tell you that they offer "low-cost" or "government" financing, when this is NOT TRUE. If the lender takes a mortgage on your home, you may have the right to cancel the loan if you send a cancellation notice to the lender within 3 days.

Am I eligible for free house repairs?

Some cities or counties have programs for free house repairs. Kansas City Missouri, for example, has this free home improvement program.  If you a resident of Kansas City, Missouri, call the Kansas City Weatherization Program at 816-513-3025, or Minor Home Repair Program at 816-784-4021 to see if you may be eligible for free house repairs. Also, the Kansas City Neighborhood Alliance has a minor home repair program - for more information call 816-753-8600.