Financing
Plan With Confidence
We understand that larger projects can come with significant price tags, and not every client may have the cash on hand or a budget that aligns with their vision. At D&R Home Solutions, we’re here to help.
Financing Your Home Renovation
At D&R Home Solutions, we understand that funding a home renovation can feel overwhelming. That’s why we’re here to guide you through the process and connect you with financing options that meet your specific needs. Below are some popular ways clients are funding their projects, along with a quick breakdown of their benefits.
If you’d like to learn more or need help getting started, contact us today—we’re here to assist!
Hearth Renovation Loan
Hearth is a platform that D&R Home Solutions partners with to offer a variety of financing options to our clients.
Pros:
No home equity required.
Fixed monthly payments with clear terms.
Quick and easy application process.
Home Equity Line of Credit (HELOC)
A HELOC allows you to borrow against the equity in your home, providing a flexible line of credit for your renovation.
Pros:
Lower interest rates compared to personal loans or credit cards.
Flexible repayment options.
Only pay interest on the amount you use.
Construction Loan Programs
These loans are specifically designed to fund construction or major renovation projects.
Pros:
Funds are disbursed as the project progresses, ensuring proper use.
Can cover both labor and material costs.
Often converted to a traditional mortgage after completion.
Government-Backed Loan (203K Loan Program)
A 203K loan is a government-backed program that combines the cost of purchasing or refinancing a home with renovation expenses.
Pros:
Low down payment requirements.
Ideal for buyers looking to purchase and renovate a fixer-upper.
Backed by the FHA, making it accessible to more borrowers.
Renofi Loans
Renofi loans are tailored specifically for home renovations, using your home’s future value after renovations to determine borrowing power.
Pros:
Borrow more based on your home’s post-renovation value.
No need to refinance your current mortgage.
Quick approval process.
