Benefits Of Financing A Home Remodeling Project
With inflation still on the rise many homeowners are having to consider delaying remodeling projects due to lack of funds. What if you could plan the home project you have been wanting to do, without having to pay for it upfront? That beautiful new modern bathroom remodel or energy efficient window and door upgrade could be within reach with the help of home financing. Many homeowners are turning to financing to pay for their home improvement projects because of the convenience and affordability.
On the fence about borrowing? Keep reading for three reasons why you should finance your next home project!
1: Payment Options You Can Afford
Paying for home improvement projects out of pocket may not be manageable or possible. Many homeowners put off completing home improvement projects because they simply cannot afford to do them. Why not use financing? Financing home improvement projects allows you to plan that needed project and replace those old windows and doors or update your bathroom for safety with monthly payments you can afford.
Before signing on the dotted line, make sure to ask yourself some important questions.
- Does this plan fit my current financial situation/budget?
- How long will it take to pay back?
- What are the monthly payments?
- What is the interest rate?
New York Sash offers homeowners with plans and features to fit your needs. With programs designed for convenience with low monthly payments and competitive interest rates we make it possible for all homeowners to plan their dream home projects!
2: Don't Have To Empty Your Savings
Don’t drown out your savings or borrow from your 401K to pay for your home projects. Completing a home improvement project shouldn’t mean you have to deplete your budget. By financing your next project you can hold onto your hard earned cash for daily or unforeseen expenses that may arise. Think of it as buy now, pay later. Buy now and pay for it over time!
3: Plan The Full Project
When homeowners see the cost of home improvement projects they often put them on hold because of the sticker shock. Instead of breaking the project up into smaller projects to complete over time or putting the whole project on hold, consider financing the entire project. When you finance your project you break up the cost into smaller and more manageable payments that are made over time. Meaning you can plan out the full remodeling project and make manageable monthly payments.
For example, if a homeowner receives an estimate for a $20,000 remodel, they are more likely to put the brakes on the project, whereas if they finance the project with monthly payments as low as $200 a month, they are more motivated to move forward. Wouldn’t you be?
Why Get Pre-approved?
At New York Sash, getting pre-approved is practically painless! Our system uses a soft credit pull, which is an inquiry into your credit report that does NOT affect your credit score! If you do not decide to move forward, there is no harm done.
Getting pre-approved for a home loan will allow you to know how much you will be able to borrow and what plans are available to you – including the loan term (the purchase window period plus payback period), APR (annual percentage rate of interest applied) and monthly payment.
It is important to know the terms of the loan before you sign it and do not go with a payment plan that does not fit your budget or that you will be unable to pay back. Only borrow what you can afford to pay back.
Plan your next project now
Breathe easy knowing your home improvement project is within reach. All we need is a mobile phone number or email address to get started and see what you can be approved for!
Get pre-approved today and let us help with your next home improvement project.