Finding a Home Improvement Loan
Q: I'm looking for a fixed rate 10-15 year home improvement loan of $45,000. My credit score is 730. What rates are out there?
A: Not all mortgage lenders still write true "home improvement" loans, where money for repairs and upgrades is provided based upon the value of the home after the work is completed. More likely, and if you have equity, you'll be steered toward a Home Equity Loan, or a Home Equity Line of credit which allows you to "break off" portions into fixed-rate, fixed-term chunks. For traditional fixed-rate Home Equity Loans, average interest rates are running just above 7% at the moment.
More help from HSH.com
10 best states for home buyersHSH.com recently created a database of the home-buying-assistance programs in every state. From that database, we have assembled a list of the states which offer the most robust set of programs to its residents.
Home price recovery index: Which metros have improved the most, least?Have home prices in your area fully recovered from the declines suffered during the Great Recession, or are they still struggling to make it back to the peak it reached before the crisis?
10 metros where a home costs about $1,000/monthHSH.com identifies 10 metro areas where you can afford the principal, interest, taxes and insurance payments on a median-priced home for only around $1,000 per month.
1000 month - tab names
The salary you must earn to buy a home in 50 metrosHere’s how much salary you would need to earn in order to afford the median-priced home in your metro area.