Solar Home Improvements and Tax Deductions

September 24, 2012 by  
Filed under Home Improvement Loans

Going solar is all the rage these days with massive financial incentives fueling the fire. Here’s a little trick to write off an additional part of your solar system purchase.

Financing Your Solar Improvements

Improving your home with a solar panel system is financially advantageous these days. The federal government, most states and even cities throw financial breaks at you to promote going solar. With the federal government, you are going to get a $2,000 tax credit, a figure that is subtracted from the amount of tax you owe the IRS at the end of the year. States pursue a variety of plans, but most offer rebates wherein they actually pay for part of your new system. Cities also offer rebates, often by discounting your property taxes.

On top of all of this, you can take advantage of net metering laws in a majority of states. Net metering simply means you can sell your solar electricity to the local utility when you aren’t using it. Known as being on the grid, nothing is more satisfying than watching your utility meter run BACKWARDS during the day! As you might imagine, this has a nice impact on your utility bill at the end of the month.

There is one additional financial trick many people fail to take advantage of when it comes to writing off solar panels and such – financing. Even if you have the cash in your hot little hand, you should consider taking a home equity loans or refinancing your home to pull out cash to pay for the system. Why? The mortgage interest deduction! Improvements to your home are deductible if they are incorporated into your mortgage payment.

Now, you might be rolling your eyes contemplating regarding going through the refinancing process. Don’t. Many federal mortgage institutions are required to write financing for people wanting to improve their home with solar systems. Even better, most of the loans are written at interest rates well below current mortgage rates.

If you are considering doing a solar-based improvement to your home, talk to your lender about financing options. Take advantage of this strategy and you’ll be getting a mortgage tax deduction, tax credit, rebate, property tax discount and selling power to the utility company when you go solar. With so many financial incentives, you have to ask yourself whether you can afford not to go solar.

Second Mortgage for Home Improvement

September 24, 2012 by  
Filed under Home Improvement Loans

Now that you have been in your home for a few years and you have established some equity, you may be considering doing some home improvement with a second mortgage.

Home improvement comes in many forms. Such as a new kitchen, bathroom, roof, siding, etc.

You can acquire a home improvement loan or second mortgage through one of three ways. Refinancing with cash out, a home equity loan, or a home equity line of credit.

My suggestion to you would be, a home equity line of credit. (HECL)

The HECL is a very convenient loan for a home owner because it is not mandatory that you use the funds right away. And when you do decide to use the money, you only use the amount you need.

Lets suppose you have a home equity line of credit for $25,000.00. The lender will give this money to you as a line for you to use, only when you choose to do so. The line also comes with a check book so you can write checks at your convenience.

A refinance with cash out, or a standard home equity loan is given to you in the form of a lump sum, and you begin paying the interest and principal immediately.

On the HECL you only pay interest and principal when you use the money, and only on the amount you use.

So lets suppose you hire a contractor to put a new bathroom in your house for fifteen thousand dollars. Upon completion of the project, you would than write a check from your HECL check book, it’s that simple.

At this time, your monthly payments would begin to kick in.

Most HECL’s are amortized over twenty years, and the payment is interest only for the first ten. So make sure you are aware of the payment schedule before you close.

Home improvement is a great step to take with your home. It not only adds value to your house, but it also improves the quality of your life. And the interest is tax deductible.

As always, continue to educate yourself, and make sure you shop around for the best deal.

Renovate Your Homes With Secured Home Improvement Loans

September 24, 2012 by  
Filed under Home Improvement Loans

“Home sweet home” that is how the phrase is concerning our homes. This is the place where we get the most comforting moments, those everlasting memories sometimes good sometimes bad. This is the place that we have watched from our childhood and this has nurtured us along through the good and the bad times. That is why it is considered the cradle of humans. A home in which we live in is a reflection of what we think and how we are and reflects a picture of us. That is why our home should give a perfect reflection of ours and it should be perfect. In accordance with our liking.

A change that is made in our homes may be a big change or a small change depending upon the requirement of the owner of the house. It may be a small thing that may be bothering you or it may be the big make over required for the house.

Sometimes it happens that we want to do home improvement but it just is not possible for us to go for it because financially it is not possible at all.

The best possible solution for that will be to take home improvement loans. Better still if you can go for secured home improvement loans.

Secured home improvement loans are loans which require the borrowers to pledge a security to their creditors. This is one of the basis of secured home improvement loans therefore is not available to tenants or people with no assets. The security can be any worthwhile asset of the borrower. It may be his car, his active current bank account or his home. When the home is rendered as a security it is also known as home equity home improvement loans.

The benefits of going for secured home improvement loans instead of unsecured home improvement loans are.

  • Secured home improvement loans come a lot cheaper than the unsecured home improvement loans. The rate of interest starting from as low as 5.0%. The rates of interest in these loans are usually lower than unsecured loans by 2% – 4%.
  • As a result of low interest rates the repayment is easier as well. With lower interest rates and a facility to choose a repayment period between 3- 25years the monthly installments are low and easier to pay off.
  • With secured home improvement loans one can easily get a loan amount in the region of £250000. Whereas with unsecured home improvement loans being a short term loan you can get a loan amount of around £10000 which is good enough for minor changes.
  • Secured home improvement loans are safe for both borrowers and creditors therefore they are approved faster than the other loans.
  • By going for home improvement an owner can get a deal which is better than one which he may get for an unimproved house.

However the owner must be careful that the repayments must be done in the prescribed way otherwise there is a danger that the creditor may seize his rendered asset.

For people who have a history of bad credit they can also get secured home improvement loans. They just have to follow the same purpose as people with normal credit history. An added advantage of going through with home improvement loan is that the people can improve their credit score. It is an estimate of the financial credit worthiness of an individual. By improving the credit score an individual will get normal terms for his deals.

One can use secured home improvement loans for any of the following purposes adding new rooms like a bathroom or a kitchen, doing some safety repairs, roofing or plumbing, or any other home improvement purpose. The reason can be any secured home improvement loans give the flexibility to the borrowers to use them for any purpose.

Remodel your house the way you please with a Home Improvement Loan

September 24, 2012 by  
Filed under Home Improvement Loans

“Good homes are still the best source of good humans”. And to retain this goodness and beauty most of us go for home improvements which includes both major and minor changes. You might be looking for a kitchen renovation or a room extension. You might also be planning for painting walls, flooring, adding new fixtures to kitchen and bathrooms, installing heating and air conditioning systems, creating an additional room, and much more. Whatever be your plan or requirements, a home improvement requires its own share of expenses. But, rarely do we have the required finance to materialize our dream of improving our home as per our requirements and plans. In such as situation Home Improvement Loans come in handy. Home Improvement Loans are specially crafted to renovate your house the way you please.

Millions of home owners in UK undertake home improvement projects every year. Home Improvement Loans not only helps you to materialize your plans of home improvement the way you please but it also increases the resale value of your house. The interest that you pay on a Home Improvement Loan is justifiably adjusted by the increase in the value of your house. However, it is advisable for you to make sure that the amount you spend on home improvement does not exceed the increase in the value of your house.

Generally, Home Improvement Loans allow you to borrow from £5,000 to £75,000 with low monthly repayments. The loan can be repaid over any term between 5 and 25 years, depending on your affordability and the security against the loan.

Like most other types of loans Home Improvement Loans can also be broadly classified into two types: Secured Home Improvement Loans and Unsecured Home Improvement Loans. A Secured Home Improvement Loan which requires your property as collateral generally offers lower interest rates as compared to unsecured ones. An unsecured loan for home improvement in UK will be ideal for projects costing £10,000 or less. The amount you will be allowed to borrow generally depends on the lender’s terms and policies and the amount of equity in your property. Choose judiciously while improving home and taking money against it. Before applying please make sure to understand the repayment terms as this will help you to avoid the risk of repossession of your home. Home Improvement Loans can act as the best resort if used properly.

Remodel your Home – Take a Home Improvement Loan

September 24, 2012 by  
Filed under Home Improvement Loans

Article Written by : eGardening Today
Home, a place where you live together with your close and loved ones, may mean the whole world to you. You always wanted to make your home a better place to live, giving all comforts to your family. You can do this just by making improvements in your home, but where to get the funds for it. Home Improvement Loan is the solution to your problem.

Home Improvement Loan is a loan that is granted to borrowers to make changes or improvements in their home. A home improvement loan is good if you don’t want to use your savings or don’t have sufficient savings for the home improvement project.

A Home Improvement Loans can be used to purchase fitted bedroom furniture or to develop unused spaces in your home. You can use Home Improvement Loan for improving your garden such as landscaping. Home Improvement Loan is also available for double-glazing, new conservatory, heating system, new kitchen, rewiring and plumbing or any home remodeling that you can think of. Making improvements in your home helps in improving your lifestyle as well as may add value to your home.

Home Improvement Loan can be classified as secured and unsecured Home Improvement Loan. A Secured Home Improvement Loan is a loan secured by borrower’s collateral such as house, car or bonds. You can borrow any amount between £5,000 to £75,000 A Secured Home Improvement Loan can be repaid at any term between 5 to 25 years depending on income available with you and the amount of equity in the property kept as a security with the lender. You can get Home Improvement Loan up to 125% of property value. A secured loan offers flexible repayment options with low rate of interest.

Unsecured Home Improvement Loan is a loan that requires no collateral to be kept as a security with the lender. The rate of interest on loan is higher as compared to that in secured loan, as there is no security attached to this loan.

You can get a Home Improvement Loan from banks and financial institutions. Now, you can also get a Home Improvement Loan online. You can collect loan quotes from various lenders which is available free of cost. Make a comparison among the various quotes and shortlist the few you find suitable. Try to find out more details about the short listed loan options and choose the one that you find the best. But don’t haste, relax and shop around make some efforts. Your efforts will definitely repay you in future by saving your money.

You can also tie your home improvement loan into the existing mortgage package, which will benefit you with lower rate of interest and help in releasing the money you needed for the home improvement project.

You can get a secured Home Improvement Loan even if you have bad credit rating, poor credit history, CCJs, defaults or arrears. Your bad credit history can’t stop you from making desired improvements in your home. You can avail a bad credit home improvement loan that is designed specially for you.

Home Improvement Loan is the loan granted for making changes or improvements in the home such as new kitchen or decoration. It helps in making your home a better place to live for your whole family. Home Improvement loan may help in add value to your home by the significant improvements you intend to make. When searching for a home improvement loan, Shop around and compare the quotes of various lenders, your these efforts will help you find the best deal.

Raise Value Of Your Property By Unsecured Home Improvement Loan

September 24, 2012 by  
Filed under Home Improvement Loans

Article written by : Garden Design – All About Gardening and Outdoor Design

You are a proud owner of a home and now want to do some renovation works on it which demands lot of funds. But due to the fear of repossession or for any other reason you do not want to take a loan against the home. In cases like this unsecured home improvement loan gives easy access to the finance. These borrowers can utilize unsecured home improvement loan for variety home improvement works. After the much required renovation done on your home, its market value escalates and you can take advantage of it in many ways.

Borrowers are not required to offer any collateral to the lender in the option of unsecured home improvement loan. However some kind of security is always essential in any type of loan. In the absence of the collateral, lenders want to secure the loan on the grounds of borrowers’ credentials. Unsecured home loan seekers should ensure the security of the loan. To do this, borrowers should produce proof of their regular income and financial standing if any. Secondly credit score of these borrowers matters a lot in finalizing the loan deal.

Unsecured home improvement loan seekers are advised to pay special attention to their credit report on which the loan offer depends a lot. Due to lack of collateral, lenders like to see if the borrowers have good credentials to return back the loan. Lenders judge the credentials through looking at credit score of the borrower. Credit score, on FICCO scale ranges from 380 to 850 and score of 750 and above is considered safe for the loan offer. If borrowers do not possess a sound credit score then, to show improvements in credit score they should first make sure that there are no errors in their credit report. Secondly they should try to pay off easy debts in order to improve credentials in the eyes of lenders.

Generally unsecured home improvement loan is provided for a shorter duration and the loan amount also remains lesser. Not only that, the loan comes with higher interest rate as the lender has to spend on insurance of the loan. Borrowers however are able to get the loan on better interest rate and terms once they convince the lender of their credentials. To take unsecured home improvement loan beneficially, borrowers should prefer applying for the loan online. They receive numerous loan offers from different lenders. They can compare the loan packages and can choose the one having lower interest rate.

If taken carefully unsecured home improvement loan can make life easier in terms of your financial position. Make sure that you pay loan installments in time to avoid falling in bad debt.

Online Home Improvement Loans – How To Finance A Home Improvement Project?

September 24, 2012 by  
Filed under Home Improvement Loans

Article written by : WA Paint – Home Improvement News, Resources and articles

Finding a qualified contractor for a home improvement project is painless. On the other hand, financing a home improvement project often poses a challenge. If you own a home, you will likely need to make necessary home repairs in the upcoming future. This could be replacing the siding, windows, roof, etc. Because the average homeowner does not have thousands of dollars in disposable cash, most will finance the project.

Home Equity Loans and Home Improvements

There are several ways to finance a home improvement project. One method involves taking out a second mortgage on your home. Commonly referred to as home equity loans, second mortgages allow homeowners to borrow money against their home’s equity. Because of a booming housing market, some homeowners are able to borrow tens of thousands of dollars. The interest rate on home equity loans is reasonable, and the funds are repaid within a few years.

Low Interest Rate Retail Credit Cards

If a local home improvement retailer will be managing your home improvement project, you may consider obtaining a store charge account. This way, you can purchase all the necessary materials and pay the balance over time. If your credit is good, you may qualify for a low interest rate or 0% financing for the first 12 months.

Although obtaining a store credit card is convenient and tempting, carefully weigh the pros and cons before applying. Can you realistically afford another monthly payment? Furthermore, if you get approved for a credit card, avoid spending too much money. If you have several home improvement projects that need completing, payoff the balance incurred from the first project prior to buying materials for the next project.

Finance Home Improvement Project with a Contractor

The majority of home improvement contractors offer financing. However, the rates are higher and you can usually find a better loan package on your own. On the other hand, if you are having a hard time securing outside financing, accepting a contractor’s terms is the next best thing.

Before choosing a contractor, get estimates from at least four other contractors. You will save money by shopping around. Moreover, do not accept an offer until you review a copy of the final contract. If you have difficulty understanding certain terms or the language, opt to have the contract reviewed by an attorney before signing.

Making your home a better place – Home improvement equity loans

September 24, 2012 by  
Filed under Home Improvement Loans

Everybody thinks of having a better place to live. A place with all the facilities, more than a normal home. Which will not only give you physical comfort but also the inner satisfaction you are looking for. Home improvement loans will provide you the money to support your needs for converting your existing home into the one you wished for.

You may be wondering about the term equity in your home. Equity is the market value of your home less any debts taken against it in the past. You build equity as that difference grows —when you repay your existing mortgage to decrease the amount you owe, or when your home’s value increases. With home improvement equity loans you can borrow up to 125% of your equity depending upon the requirement.

Home improvement equity loans are of two types.

One is standard home improvement equity loan in which you get the lump sum payment of the loan amount. This form of home improvement equity loan is suited for those who want to finance large one time expense. It offers you simple repayment terms and a security that your payments will never increase.

The other one is line of credit which you can use like a credit card. There is a limit set for you up to which you can borrow, and you just have to pay the interest on the amount you borrow. This form of loan is to finance ongoing expenses or miscellaneous purchases.

You can borrow against that equity when you need cash, using either a home improvement equity loan or a line of credit. Both offer a number of advantages over other types of financing including:

  • Interest savings. Home improvement equity loans or line or credit typically have much lower interest rates than other types of financing, such as credit cards and personal loans.
  • Tax benefits. Just like your first mortgage, the interest you pay on a home improvement equity loan or line is usually tax-deductible. You should consult your tax advisor about the deductibility of interest.

Lenders normally place no limitations on your home improvement projects, as long as they are within the boundaries of your local building requirements. Depending on the type of improvement, you have the choice of doing the home improvement work yourself, or using a home contractor. You just need to do a little research while looking for a lender to avail the benefits.

Home improvement equity loans will provide you the right platform to transfer your place of living into a home. These loans are recommended as it is a nice way to get equity from your home for improvement of your home.

Low Rate Finance Through Online Home Improvement Loan

September 24, 2012 by  
Filed under Home Improvement Loans

In these days of advancements in technology the ways of loan availing has also been revolutionized. Unlike decades back when borrowers used to personally visit each of the loan providers to finalize the best loan deal, the borrowers today can get numerous loan offers from as many loan providers in the comfort of their home by clicking the internet. Thanks to online home improvement loan that borrowers now avail the loan of their requirement at lower interest rate. One can put online home improvement loan to different home improvement works such as enlarging rooms, adding storey, renovating kitchen in line with latest design and requirements.

Borrowers should give preference to online home improvement loan as there are many advantages attached to it. When you apply for the loan online you are flooded with offers from loan providers. From the comfort of your home you can very easily compare interest rates of different lenders. You are then in a better position of choosing the suitable loan package that has lower interest rate.

One advantage of online home improvement loan is that interest rate gets reduced further. This is because the lender saves a lot of money on expenses like sending representative to the borrower and on stamps, envelops and dispatches. Therefore lender is ready to offer the loan at a discount. If the borrower pays installments by direct debit and instead of post, gets statements by email then lender may reduce interest rate.

Those borrowers who have a bad credit history they normally find it hard to avail loans at easier terms. Once you opt for online home improvement loan the finance availing at better terms becomes easier. This is because bad credit history people have the luxury of comparing various loan packages to their benefits.

On line home improvement loan is popular with the borrowers because of convenience attached to it. From the comfort of home you can pay your monthly installments. You can also make transactions this way.

The process of offering online home improvement loan is very simple. Usually lenders transfer the loan amount the borrower’s bank account electronically. From the same account payments can be made through automatic withdrawals.

To take a secured online home improvement loan, borrowers should give preference to the equity in their home. Lenders will process the loan application quickly in case of collateral being an equity as this involves no paper work.

Online home improvement loan is the best option for the borrowers as it gives access to finance at easier terms. Take extra care that you pay off the loan installments in time so that you do not carry the debt burden.

Loans For Home Improvement

September 24, 2012 by  
Filed under Home Improvement Loans

To owner a home is one thing but to maintain it tip- top and with all the latest additional fixtures, and well done, with Italian marble tiles and ceiling re- touches. Human nature is such that a man’s wants and priorities change with times. Those who have marble tile floorings change to wooden planks flooring and vice versa. In a way, this is what keeps the construction business growing. Home improvement loan is there to serve you with a cash loan under any circumstances. You can apply for a loan and obtain the amount that you require to make your home improvement plans possible.

Once you have all your background homework done with all the minor and major changes in your home, contact a reliable contractor. It is generally advisable to do all the changes at one time. Don’t plan the bathrooms to be done two years later or the kitchen three years later. Include all the home repairs, renovations and painting the walls too. Now that you have your estimate quote and a rough idea at how and where the expenses are going to be allocated to, always add a small percentage extra, because in these cases one always goes overboard. You can depend on home improvement loan to cooperate with you.

It goes without saying that all the added changes and the renovations are of course going to add more value to your present home. Not only that, you are going to enjoy you new home with great comfort. All this will be made possible if you apply for a home improvement loan.

Compare a few financial lenders because the field is very competitive. Find one who is of high repute and has been in the business for quite some. Ask him for all the pros and cons and other queries that you may have, about the home improvement loan. Double cheek if this loan has any tax rebate. Some of the major benefits of the home improvement loan are:

  1. A very low interest rate,
  2. Options to choose your length of time frame,
  3. An easy comfortable monthly payment, which is suitable to your income,
  4. A no quote fee and
  5. Check for any special rebates or advances.

Definitely it goes without saying that surely a good credit is much more advantages for you and helps in getting a good sum of loan. Your will have a more broad view and a better perspective of the home improvement loan, if you just take a few minutes from your daily routine and go on the web. Learn all about the loan.

After you have filled in the application form for the home improvement loan, your lender will need some extremely basic information about you, such as:

  1. Residential address and telephone numbers,
  2. Listed or unlisted mobile cell numbers,
  3. Self employed or not,
  4. Company name where you work, address and telephone monthly wages,
  5. Any other source of income
  6. The amount of loan you want and
  7. Your bank account number.

You will be amazed at how quickly the loan for your home improvement will be approved because unbelievably the money will be in you account in just a very short time. You are very much secured with this loan. At the and of the day you will have a beautiful home, now worth much more that you originally bought it for. You have improved your style of living comfortably and you and your family are enjoying the new luxuries in your home. A word of caution: Remember not to default on any of your payments. For further information on home improvement loan visit.

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