How do I finance my project?
There are, naturally, several methods to choose from in financing your remodeling work. When interest rates are favorable, one of the most popular avenues is to acquire a construction loan based on the appraised value of the remodeled home and then refinance the existing mortgage and the loan into a new mortgage at the prevailing rate. Smaller and moderate projects can be financed from savings, home equity lines, home improvement loans, selling your Microsoft stock, or a combination of the above. Many own properties with significant equity, which can be used as a sound basis for project financing.