Looking to make improvements to your home? Don’t have all the cash you need to make it happen? That’s OK. There are many ways to finance your project that will allow you to make the changes you need, improve your home, and boost your property’s value. Whether you need new roofing, siding, deck or windows, here are some ways to finance your next home improvement project.

Tapping Into Your Home’s Equity

When you borrow against home equity, this will involve either replacing your existing mortgage or obtaining a second home loan to use those funds for the remodel. The interest paid on these loans or lines of credit is typically tax-deductible, provided you use them for home improvements. The lender may want a home appraisal, and you will be responsible for paying closing costs.

Home equity lines of credit

A HELOC is a line of credit that you can draw from as you need it, only paying interest on the amount you borrow. Amounts can reach up to 85 percent of the value of your home, minus the amount you still owe on the mortgage. This option is a good idea if you’re unsure how much the project will end up costing.

Home equity loans

With these loans, you can also borrow up to 85 percent of your home’s value minus what’s owed. But with this type, you will get the funds in one lump sum, repaying it over a 15-year or less term. You’ll get a fixed interest rate and will have to make monthly payments. This is best when you know what the cost of your project will be.

Cash-out refinance

This basically replaces your existing mortgage with a bigger one. You will get the difference between the current balance and the new loan in cash to fund your renovation. This is a good choice if the new mortgage features a lower interest rate than the current home loan.

Paying Without Using Equity

If you don’t plan to use equity to pay for your renovation, you have these options.


You won’t have to take out loans or pay interest if you can pay for the project outright with cash. Problem is, not everyone has a lot of cash lying around! But it’s good if you’re a DIY’er who plans to break up the projects into small chunks, paying for them as you can afford them.

Personal loans

Unsecured personal loans can be a quick way to fund a home improvement project, usually within a week. Compare this to home equity financing plans that require underwriting and appraisal processes, which take a lot of time.

Credit cards

For smaller home improvements, a 0% APR credit card can be a convenient way to fund your project. You may even get rewards back on certain purchases, which include home improvement expenses.

Government loans

You can get Title 1 loans from the government if you’re a qualified borrower looking to make specific updates to your home, such as purchasing appliances, making ADA compliant changes or improving energy efficiency. It’s possible to borrow up to $25,000 for single-family homes.

Now that you know how easy it is to finance your home improvement project, give us a call!

Contact Hi-Tech Windows & Siding

Here at Hi-Tech, we want your home improvement project to be as affordable as possible. That’s why we offer financing options through GreenSky. Learn more about those options when you call us today at 800-851-0900.