Video Short: How to Finance your Construction Project

Identifying the need to renovate usually comes pretty easily. Your space is no longer functioning, the walls feel like they’re closing in, you’re out of bedrooms or bathrooms or your closets are bursting at the seams. Your pen flows freely as you draft the list of projects you dream of tackling within your home. Where most homeowners hit a roadblock, however, is figuring out how they’ll actually pay for these improvements.

One common misconception people have is jumping to the conclusion that you need to have cash on hand in order to renovate your home. While cash is certainly one option for financing your project, there are more strategies to explore. In this video, I asked local lender Matt Kremers of Envision Capital to walk me through the financing options in great detail. We’ll get into all the nitty gritty of what each option costs, the terms you can expect, pros and cons of the different products, limitations, common pitfalls and more.

If you’re like me and you’ve ever driven around and seen ALL the houses being renovated and asked yourself, “How are people paying for this?” - you’ll walk away from this video with the answer to that question plus so much more. Sit back, relax and settle in as we cover:

• HELOC’s (Home Equity Line of Credit) - both current and future value

• Cash Out Refinance

• Construction Loans - one and two time close

If you’ve been grappling with how to renovate your home or whether or not your home is a solid candidate for renovation, reach out! We have the team and know-how to help coach you through the process and ensure you are setting yourself up for longterm success.