Finance Your Remodeling Project using Conventional Home Improvement Loans

by / Tuesday, 04 August 2015 / Published in Uncategorized
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To assist our customers with payment and to help you complete your new construction or renovation project, we are proud to offer financing options to qualified buyers through Remodeloandirect.com, a division of South Central Bank, N.A. .

Simple Qualifications:
1. Good Credit
2. No Appraisal
3. No equity requirement on most loans

Qualified buyers, individuals with credit scores above 670 or a 690 average for a joint application, can access secured or unsecured loans from $3,500 to $50,000 (even more is available for well qualified homeowners).

  • Once approved, the money is made immediately available for construction and the first payment is owed 30 days after issuance of the loan.
  • The interest rates for these conventional loans ranges from 7.9% to 9.9% and are determined by the bank’s underwriting department.
  • Two pay check stubs for each applicant will need to accompany your application.
  • Proof of ownership will also be required before final approval.

Benefits/Features of using RemodeLoanDirect to finance your project:

  • Fixed monthly loan payments
  • Tax deductible (interest may be tax deductible if loan is secured by a mortgage on your home — check with your accountant). Loans up to $7,500 are usually unsecured.
  • No prepayment penalties & no annual loan fees
  • Direct loans available from $3,500 to $50,000
  • First payment not due until 30 days after funding of your loan
  • Fixed APR (Annual Percentage Rate) normally 7.9% to 9.9% depending upon loan size and your credit report

Click here for a PDF of a Conventional Home Improvement Loans application or follow this link to an online application.

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Have a question? Our RemodeLoanDirect team is here to assist you!
info@remodeloandirect.com
866-933-6014

(This post was last revised August 4, 2015)

 

 

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