Your home is probably your most important investment, and renovations are one of the best ways to boost your property’s value. Since renovations do not come cheap, a home improvement loan is very likely to be necessary.
When contemplating sources of financing, you need to always keep in mind the type and scale of your planned renovations. This will affect the timeline of the undertaking, the budget you require and also - the gain in property value that you can expect once you get your new and improved home.
We at Super Rates have quite a bit of experience in assessing renovation costs and gains in the process of acquiring home improvement loans for our clients. We are dedicated in getting you the loan at the best conditions possible, and the difference can be pretty big. A renovation loan application filed on your behalf by a professional mortgage brokerage will be able to, among other things:
1. Find the best financial institution to fund your project
2. Present the application in the most favourable manner
3. Negotiate a low loan rate and comfortable repayment plan
We take care of the application, with all the tedious paperwork involved in it, and allow you to focus on making your home more spacious, comfortable and beautiful than ever.
For big projects we can work out a mortgage refinancing solution that will be simpler to get and much easier to pay off than a new loan. Homeowners can simply use the home equity their property has acquired over the years to help finance renovation projects. The home equity you have built up may make it possible to borrow as much as 80% of that value!
If you are planning some considerable changes or full-scale construction, we can introduce you to some great construction mortgage opportunities. Those are perfect for funding advances based on the amount of the construction completed, releasing the funding you need, when you need it.
Every single homeowner’s financial situation is unique, so it is best to meet with a qualified Super Rates financial advisor and figure out your best way of securing a home improvement loan.
Call us now and we will introduce you to the best options that the Toronto mortgage market has to offer, and gear up your renovation project to speed!