Planning for your home

By Hawaii Renovation Posted in: ImproveTips

Are you thinking of renovating your home, but unsure of where to start? This can be a challenging process, but with a clear plan and the right help, the reward of an improved home can be well worth it.

A renovation can be a large investment, so having the right lender is just as important as having the right contractor or architect. With many different financing options available, CU Network Services’ loan experts will sit down with you to set a personalized plan to make your renovation project affordable.

Depending on your situation and the amount you are looking to borrow, here are some popular financing options to consider:

Home equity line of credit

A home equity line of credit is the most flexible financing option that allows you to borrow funds, as you need them.

Cash-out refinance

This allows you to take advantage of the equity you have built up in your home by refinancing your current mortgage balance with the cash amount you need for your renovation. With this refinance option, you maintain just one monthly payment.

Owner-builder construction loan

With this specialized construction loan, portions of the loan proceeds may be withdrawn as each phase of the construction process is completed, and it allows the option of interest-only payments during construction.

While there are many other things to consider when choosing the right loan, the lowest interest rate may not necessarily mean that it is the most cost-effective option for you. CU Network Services’ loan experts are available for free consultations to help assess your situation to see what type of monthly payment you can afford and help you select the right loan that would best fit your needs. Apply online at CUNetworkServices.com, call 529-4599 or visit the office at 715 S. King St., Ste. 100.

CU NETWORK SERVICES
CONTACT 529-4599
ADDRESS 715 S. King St., Ste. 100
WEB cunetworkservices.com