Renovate or Remodel Your Home
Need funds for renovation or remodeling?
Make informed decisions about using the equity in your home to finance home improvements.
- Update your home's features or enjoy more living space with a newly designed kitchen, expanding a home office, or a master-bedroom suite – while remaining in your own neighborhood.
- Make your home more functional by creating a separate living area for a family member or updating your bathrooms.
- Personalize your home to fit your lifestyle by adding enhancements such as an enclosed porch, deck, or swimming pool.
- Make your home more energy efficient with a new roof or replacement windows.
Possible lower costs:
Do I have to hire a contractor?
Do I have enough equity in my home to finance home improvements?
A Refinance & RenovateSM Loan provides the advantage of one monthly payment
Are you prepared for the unexpected?
View loan options now.
Depending upon your loan type, property location, property type and loan amount, you may incur other monthly or annual expenses such as mortgage insurance, flood insurance, and homeowners association fees.
Define the project
Create a list of things you would like to accomplish.
Create a budget
Select a contractor
Determine the value
Will your home improvement or repair be worth it to you? Improvements that may add value include:
Remember, a number of factors may determine whether you recover some or all of your expenses. These may include how long you remain in your home, the type of improvements you make, and the typical features of homes in your area.
- Make an estimate of your home's current market value
- Multiply your market value by .80
- From that amount, subtract what you owe on the mortgage and any outstanding debt secured by the property
The result will give you an idea of the equity in your home that may be available for financing.
Example (for illustrative purposes only):
If your current market value = $200,000
And your total existing mortgage and any outstanding debt secured by your property = $120,000
$200,000 x .80 = $160,000
$160,000 - $120,000 = $40,000 estimated available equity
We also have tools and resources that can help you.
- Consider a cash-out refinance to access your available equity, as well as refinance your existing mortgage
- Customize and compare your options with our interactive tool
Brent D. Miller
Home Mortgage Consultant
NMLSR ID 404017
Toll Free: 1-800-643-0528 Ext.8638
10900 NE 8TH ST Suite 1430
Bellevue, WA 98004
Bank closing costs
Depending on your state, you may be responsible for mortgage taxes, attorney fees and other third-party fees.
Closing cost options
Have us pay your closing costs
- You pay a higher interest rate to cover all required third party costs
- This option is not available for lot loans or financing greater than $500,000
- You pay a lower interest rate
- Pay with your loan proceeds, line of credit, or a check
For details, please contact us.