Finance Reno Countertops at 0% Interest and Add Value to Your Home

The reason why you should be keen on what adds value to your home is that countertop remodel choices will affect your financing options.

For example, if you decide to finance Reno countertops project with a refinanced mortgage or a home equity loan, you’re borrowing against your home’s value. If you haven’t increased the value of your home by as much as you’ve spent on a remodel, you could end up upside down on those loans for several years.

While some home remodeling projects are sexier than others, not all of them are going to add value to your home. When you look at your home’s outdated countertops, these are some of the items that should take priority on your renovation list. Focus on the projects that are more likely to add value to your home.

The most popular way to finance a Reno countertops remodel project is with a home equity loan or line of credit. The other popular way to finance smaller projects is with cash: either pulling cash from savings or frog-leaping from one no-interest credit card offer to another.

finance Reno countertops

Ask Your Contractor to suggest the best method to finance your countertops project

Your home contractor may offer a loan for, say, 12 to 18 months. Typically this is done through a third-party lender. For example, Accent Countertops is offering “6 Month No Interest Financing” for kitchen remodeling. Customers can apply for a remodeling credit card and buy kitchen countertops and pay them off over the next 6 months with no interest

You may be able to finance Reno countertops by arranging for an interest-free loan through your contractor as well. However, if you’re unable to pay off an interest-free loan before the term expires, you’ll probably owe interest backdated to the day you signed the agreement. In this arrangement, make sure you don’t lose the right to withhold payments if the contractor’s work isn’t done to your satisfaction, if that was a term of your contract.

Refinancing Your Mortgage

Another way to finance Reno Kitchen Countertops is by refinancing your mortgage.

It’s always a good idea to review your current home loan every few years and find a more competitive deal on the market with possibly a new lender. By refinancing your mortgage with a lower interest rate your monthly repayments decrease, saving yourself thousands of dollars that can ultimately go straight towards the remodel.

This could mean adding the Reno Granite Countertops of your dreams! You can also seek further consultations from your Reno Countertops Fabricator and Installer.

finance Reno countertops

Consider a building and construction loan

If you’ve decided to finance your countertops project in Reno, then a building and construction loan (BICOE) could be the way to go. How do construction loans work? You receive your loan in increments, letting you pay invoices for the remodel as they come in.

Paying each bill as it comes in means you don’t pay interest on your building costs until work’s actually been done. This gives you better cash flow.

Handy tip: Keep in mind that as you draw down more of your loan, the amount of interest you pay will start increasing. You’ll need to budget for that.

Be sure to compare shops before settling for the best financing option

When it gets to a time that you need to finance Reno countertops, Rule #1, always shop around! It’s not a bad idea to start with a quote from the bank that issued your first mortgage, but don’t stop there. Research current interest rates and terms, as well as closing costs and the other fees associated with different loans.

And don’t limit yourself to just one type of financing option. As long as you don’t take on too much debt, you can combine any of the borrowing methods above to finance your Reno countertops.

Accent countertops offers financing on countertops and cabinet projects with 0% interest. Talk to us today and let’s see how we can help bring your dreams to reality.

 

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