The Speicher Group
RE/MAX Realty Centre, Inc.
3300 Olney-Sandy Spring Rd, Olney, MD20832
Christopher SpeicherO: 301-710-9920C: 301-580-3899
Peggy Lyn SpeicherO: 301-710-9920C: 301-580-7708

Today's News and Features

Q: How can I finance a remodeling project?

Monday, July 20, 2015

A: There are many ways to finance a remodeling project. If you have equity in your home, a good credit rating, and steady income, you can refinance your mortgage and borrow a percentage of the equity to cover remodeling costs. Refinancing is a good option if you can get a mortgage interest rate at least two percentage points below your current home loan rate. Other options include a second mortgage, a home equity loan, or an unsecured loan.  Less popular options: margin loans, which are taken against securities you own, and loans from retirement plans, life insurance policies and credit cards.

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