Home Renovation Loans for Improvements
Thinking about revamping your home? Congratulations! Home improvement projects are a milestone for any homeowner. Whether you’re expecting a new family member or simply want to live more comfortably, remodelling your home to better fit your personality, style and needs can only do wonders for your quality of life.
However, upgrades can be expensive, even more so once you factor in the cost of labour, materials and potential permits. Happy Loan can help you build the house of your dreams by financing your improvement project with a home renovation loan.
Apply now and turn your house into a home that you and your family can enjoy for years to come.
What Is a Home Renovation Loan?
To put it simply, a lending solution designed to help you revamp your household. They can come in many forms, including using your home equity or taking a home improvement mortgage, but their sole purpose is to help you finance the cost of upgrading your home by spreading it out into affordable monthly payments, instead of having you pay for everything upfront.
While these kinds of credits can be acquired through traditional banks, they are a lot harder to qualify for, and usually require long waiting periods and endless paperwork. A private lender like Happy Loan has lesser requirements and can shorten the loan approval process from months to a few days.
Finance Your Home Improvement Project With Happy Loan
As a private lender, Happy Loan isn’t regulated or restricted by qualification guidelines. That allows us to provide certain advantages that traditional lenders like banks or credit unions can’t match:
- Fewer requirements than traditional banks
- Less paperwork
- Faster loan approval process
- Lower interest rates
- Can help you rebuild your credit — as long as you keep up your obligations
- Short-term debt means you won’t be paying off your loan for 30 years
When Should You Get a Home Improvement Credit?
Some homeowners may be tempted to use traditional credits, mortgages or even credit cards to cover the costs of renovations. However, as a specialized credit product, home improvement credits offer certain benefits that other lending solutions can’t provide:
Based on Value After Upgrades
Unlike other lending solutions, most home improvement loans are based on after renovation value. An estimate of your home’s value after being upgraded is used to determine the size of your credit.
In some cases, such as rental properties, improvements and interests may be tax-deductible.
These kinds of credit products tend to have fixed payments, which are a lot easier to manage on a monthly budget than variable ones.
Lower Interest Rates
Rates for home improvement credits tend to be lower than most other lending solutions.
Revamp Your Home: Apply for a Home Improvement Loan in Canada
Renovating your house is complicated enough without worrying about interest rates, endless piles of paperwork and approval processes that take months. Our mission is to put your mind at ease and find the best lending conditions available to turn your dreams into reality.
We take pride in helping Calgary homeowners meet their financing needs. Our team of experts works tirelessly to find the right lending solution for you. Apply now for a Happy Loan today and build your dream home.