4 Ways To Finance A Home Renovation - Stark Federal Credit Union

4 Ways To Finance A Home Renovation

Home Equity Line of Credit. A Home Equity Line of Credit (HELOC) is an open credit line that is secured by your home’s value. HELOCs offer flexible terms and lower upfront costs than most other loans.

Home Equity Loan. A Home Equity Loan (HEL) allows you to borrow a fixed amount of cash, which you receive in one lump sum. However, upfront fees can be high.

Credit cards. Credit cards can work for minor touch-ups, but funding bigger projects this way can leave you with steep interest payments and end up costing much more than planned.

Personal loans. Personal loans are short-term loans that sometimes have high interest rates and upfront fees.

Do your research and talk with us at Stark Federal to help find the best option for your needs.

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