Chase customers who secure a new Chase home equity line of credit can save 0.25% off the standard variable home equity line of credit rate with qualifying personal deposit accounts including Chase personal checking and savings accounts, CDs, certain Chase Retirement CDs, or certain Chase Retirement Money Market Accounts. Qualifying personal investments include investment and annuity products offered by JPMorgan Chase & Co. or its affiliates and agencies. Balances in Chase Money Purchase Pension and Profit Sharing Plans don't qualify.

The most straightforward way to finance a remodeling project is with a home improvement loan, which can be a conventional loan or an FHA-backed 203(k) loan, which is intended for homeowners who want to spruce up their homes. These loans are packaged separate from your mortgage, and offer different rates and terms than your mortgage. You’ll need to be approved separately, so your credit score and current debt will greatly impact your ability to secure a loan.

The biggest problem or obstacle to getting home improvement projects done? Contractors. Many people research DIY solutions but do so not to perform the work themselves but to have some knowledge when hiring someone else to do it for them.Where are the articles on the realities of dealing with contractors, not the glossed over 1,2,3... steps which are hardly helpful in the experiences of so many?Perhaps TOH can shine a bit of light of what no one really wants to talk about on the side of sites selling ads, displaying links to Home advisor and those types of hyped up services?Maybe TOH could spend a little bit of time advocating better service providers than displaying their ads everywhere?Most people know the usuals, the defined scope, the quotes and so on. How many contractors can easily pass a reference check and then the home owner discovers the work is shoddy, the communication practically non-existent and the contractors think it's their project? It's the homeowners project.
There are several types of loans that can be used for house remodeling. Many homeowners take out a home equity loan or home equity line of credit (HELOC) for that purpose. The home is collateral for the loan. Because of this, rates are typically lower. One could even use credit cards for home improvements, but the cost likely would be prohibitive. Each loan has advantages and disadvantages.
Another good tip is to keep your home improvements simple and neutral whenever possible. While you may be an avid gardener, potential homebuyers may not be, so they won't be enticed by a house with a yard that requires a lot of upkeep. Additionally, if you repaint rooms, choose warm, earth tones. This neutral palette will help homebuyers envision themselves and their furniture in the space. Bright reds, exotic yellows and Caribbean blues may distract potential buyers.
The most straightforward way to finance a remodeling project is with a home improvement loan, which can be a conventional loan or an FHA-backed 203(k) loan, which is intended for homeowners who want to spruce up their homes. These loans are packaged separate from your mortgage, and offer different rates and terms than your mortgage. You’ll need to be approved separately, so your credit score and current debt will greatly impact your ability to secure a loan.
Whether you hire a contractor or take on the work yourself, begin with an accurate estimate of what the project will cost. Lenders will insist on a specific figure before they work with you. If you're hiring a contractor, start with a firm bid, broken down into labor and materials. Then add on 10 percent for surprises. On work you'll do yourself, compile a detailed materials list with quantities, costs, and an accurate total. Include permit fees and equipment rental. Then add a cushion of 20 to 30 percent to be safe. Once you know how much you need to finance your home improvement project, how much will you get? Despite the promises and hype lenders make in their ads and promotional materials, how much you can borrow hinges on your credit rating, the loan-to-value ratio, and your income. These factors also help determine the interest rate, the length of the loan, and whether you'll pay points. Your credit rating. The best rates and terms go to homeowners with an A rating—no late payments in the last 12 months and no maxed-out credit cards. One or two late payments or overdrawn credit cards probably won't knock you out of the game, but you might end up with a higher interest rate and a smaller loan.
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Just wondering. In the polybutylene story the Ask This Old House trailer is sitting in the driveway of the home in Virginia. Richard is there to emcee but a local company is hired to do the work, so Richard needs no tools. Does someone tow the empty trailer to these distant sites just to use it in the exterior shots? Or, do they haul the lighting and cameras and such cross country in it? Or, do they rent a trailer locally and just temporarily apply an AskTOH wrap for the cameras?

Whether you hire a contractor or take on the work yourself, begin with an accurate estimate of what the project will cost. Lenders will insist on a specific figure before they work with you. If you're hiring a contractor, start with a firm bid, broken down into labor and materials. Then add on 10 percent for surprises. On work you'll do yourself, compile a detailed materials list with quantities, costs, and an accurate total. Include permit fees and equipment rental. Then add a cushion of 20 to 30 percent to be safe. Once you know how much you need to finance your home improvement project, how much will you get? Despite the promises and hype lenders make in their ads and promotional materials, how much you can borrow hinges on your credit rating, the loan-to-value ratio, and your income. These factors also help determine the interest rate, the length of the loan, and whether you'll pay points. Your credit rating. The best rates and terms go to homeowners with an A rating—no late payments in the last 12 months and no maxed-out credit cards. One or two late payments or overdrawn credit cards probably won't knock you out of the game, but you might end up with a higher interest rate and a smaller loan.


* Your loan terms, including APR, may differ based on loan purpose, amount, term length, and your credit profile. Rate is quoted with AutoPay discount. AutoPay discount is only available prior to loan funding. Rates without AutoPay are 0.50% higher. Subject to credit approval. Conditions and limitations apply. Advertised rates and terms are subject to change without notice.
*Credit scores are based on information collected by credit bureaus and information reported each month by your creditors about the balances you owe and the timing of your payments. A credit score is a compilation of all this information converted into a number that helps a lender to determine the likelihood that you will repay the loan on schedule. The credit score is calculated by the credit bureau, not by the lender. Credit scores are calculated by comparing your credit history with millions of other consumers. 

HELOCs have two phases. During the draw period, you use the line of credit all you want, and your minimum payment may cover just the interest due. But eventually (usually after 10 years), the HELOC draw period ends, and your loan enters the repayment phase. At this point, you can no longer draw funds and the loan becomes fully amortized for its remaining years.
Home improvement becomes necessary after few years. To update already existing home money is necessary which can be acquired through home improvement loans. General repairs, repainting, building a swimming pool or a deck, enlarging the existing area of the house or anything similar is done through home improvement loans easily. Home improvements also increase the value of the home. Sometimes though, over improvement is risky. It is difficult to rent a house that is more expensive than other houses in the neighborhood. Mainstream homebuyers do not go for very grand and expensive tastes. So these things have to be considered seriously.
We know from personal experience that a large number of older homes in Northern and Southern California are still in great shape and can be updated, upgraded and expanded to meet the needs of a growing family. It’s a great solution for families that love their neighborhoods and the cost of renovation is usually substantially less than the cost of purchasing a larger home.
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