Tackling a home renovation project may not be as far off as you think. With a home improvement loan from ACU of Texas, you can leverage your home equity to make repairs or upgrades on your own timeline. Keep monthly payments low without having to worry about high interest rates.
Here's how a home improvement loan works and how to apply with ACU of Texas.
How a Home Improvement Loan Works
This type of loan is designed specifically for projects that increase the value of your home. It could be maintenance, repairs, or upgrades, but the work must be done on your property. Here are a few examples of the types of projects you can get done with an ACU of Texas home improvement loan:
- Addition to your home
- Swimming pool
- Kitchen or bathroom upgrades
- Exterior landscaping or paint
- Finish a basement
- Convert a garage
- Install energy-efficient windows or appliances
- Upgrade the roof
All of these projects take a large sum of cash. By taking out a loan specifically for property improvements, you'll expedite your timeline for creating your dream home.
Getting a Home Improvement Loan with ACU of Texas
Here's how a home improvement loan works. The amount you can apply for depends on the equity you have in your home. At ACU of Texas, you can borrow up to 90% of your home's value. That includes your mortgage balance, so subtract that number from the property's fair market value and to get your maximum financing amount for the home.
You can spread out payment across 5, 10, or 15 years. We offer competitive, fixed rate home improvement loans so that you don't have to worry about your payments increasing over time. Plus, you can pay off your balance early at any time without incurring any kind of penalty fee.
Benefits of a Home Improvement Loan
There are a few different unique benefits that come along with a home improvement loan. Consider these pros as you weigh your options for funding your next project:
- You'll add value to your home.
- Your loan interest may be tax deductible in some situations.
- You'll lock in this year's labor and materials prices.
Getting a home improvement loan for your Texas property can help you take care of repairs or upgrades even sooner than you expected. Talk to a loan officer today to get a sense of how much you can borrow and what monthly payments would look like with various loan terms.
Ready to get started? Apply with ACU of Texas today.