Loans and credits to reform housing
Loans for reforms are one of the most demanded financing options after personal loans and debt reunification, since sometimes it is more profitable to buy a more modest home and reform it to your liking and measure. That is why today we are going to tell you what this type of financing consists of and what are the best loans for reforms. see http://power-linking-profits.com/a-guide-to-finding-vehicle-leasing-companies-online/ for more notes
Whatever your reason, there is a loan for you
There are different reasons why you may want to reform your home, but whatever it is, there is a loan for special reforms for you.
1.To raise the value of your home in case you want to sell or rent it
If your goal is to raise the value of your assets, you can opt for this type of financing. If what you need is to increase the value of your house because you want to rent it or sell it later. A reform will achieve that goal so you can get the most out of your home
2. To improve your quality of life in your home
It is possible that after long years living in your home, the house has deteriorated and there is a need to reform to repair damage. Or that you have the need to expand your home because your family is growing and due to the economic situation of the country, the reform by extension may be more convenient than the purchase of a new real estate. In any case, loans or credits for housing reforms are able to provide the necessary financing to get the home you deserve
3.Newly bought, to get the house you want
In case you have bought an older or older house for a lower price and your goal is to get the ideal home for you, the most recommended option is the reform. This also indicates loans for home renovations.
Types of financing for reforms
Depending on the type of reform you plan to carry out, there are several types of financing that are more suitable for your goal, whatever it is, in the end it is to get the house of your dreams.
Credit for reforms
The credits for reforms are indicated for those who wish to do small works in their house without needing to need a very high amount of silver. Therefore, choosing online credits as a means of financing, allows you to get the right financing for your goal without paying too much interest since it is returned in shorter terms. Interest rates are higher in this type of products and the repayment term ranges from months to 1 or 2 years.
Loan for reforms
The reform loan is perhaps the most common of the three types, since it lends you an intermediate amount between a short-term loan and a mortgage. It is a type of financing for those who know exactly what they want to achieve, in terms of the requirements to apply for your loan, the rates are not too high and the repayment period ranges from 3 years to 10.
Mortgage credit for reforms
It is the option that allows you to get as much financing as possible, when you especially need a very large amount, perhaps because you have bought a very damaged house or because you want to build from scratch, mortgage loans allow you to obtain the maximum amount possible. They are very similar to mortgage loans to buy a new house.
This type of financing has very demanding requirements since the amount is very high and the repayment period is usually long (up to 20 years).
Loans for reforms
Since January, the launched a series of special loans for construction, renovation and completion of homes on their own land.
This type of financing is special for the projects you wish to carry out on your own land, with conditions of:
20 year return period
Up to 80% financing of your home
Construction may not exceed one year.
1 They will oscillate between 13% and 18% during the year of construction,
2 Once the construction is finished, the term will become fixed at 14% during the first 3 years.
3 After the payment of the first 37 installments, the interest rate will be recalculated only once a year and may never exceed the increase in wages.
As for the maximum possible amount to be obtained, it will be up to $ 2,868,000