Everyone wants to have a beautiful home. Considering that it is probably the biggest purchase of your life and where you spend the most time, it’s easy to see why home improvement is such a big business. Unfortunately, it’s rarely cheap. Even remodeling a tiny bathroom can set you back several thousand dollars or more. So let’s take a look at the different options out there to pay for these improvements.
Home Equity Line of Credit: Known as HELOC for short, this is a line of credit which uses your home’s value as collateral. Because it is secured by the equity in your home, typically this type of loan has interest rates which are less than a non-secured loan (like a credit card). If you’re looking for 10 to 50k in financing, this is one way to go.