Securing a loan to carry out some remodeling of your house like addition of one more storey, construction of a garage, building of a new bathroom, etc. has become rather easy with the easy availability of remodeling loans in California provided by reputable banks or other lending agencies.

1. Avail of the Facility of Remodeling Loans

2. • Securing a loan to carry out some remodeling of your house like addition of one more storey, construction of
a garage, building of a new bathroom, etc. has become rather easy with the easy availability of remodeling
loans in California provided by reputable banks or other lending agencies.
• Getting a loan for renovation or remodeling of the house until some time back was a tad difficult, more so
for the people with a not so perfect credit history. Today there are various loan programs, competing
lenders, and loan options to suit the needs and requirements of the borrower.
• In the following section we shall see what loan remodeling is and which factors need to be taken into
consideration to make the right choice with your lending program.
1. How a Remodeling Loan Plan Works
• Remodeling loan also known as the Streamline-K loan is the loan given to an individual for buying a home
that may be in immediate need of repairs, remodeling, or renovation.

3. • Earlier, only one type of remodeling loan option was available but it was complicated and required a lot of
paperwork. The person wishing to avail such a loan also had to have an impeccable credit history.
• The new remodeling loan was introduced for the sole purpose of facilitating the entire lending process for
remodeling of houses. This type of loan also came with the option of fixed rate interest rate or variable
interest rate.
• Generally the upper loan limit amount for remodeling purposes was fixed at $35,000, but there is no hard
and fast rule attached to it. This amount can be exceeded if the situation so warrants.
• The matter is simplified further by the lender who can send an appraiser or an inspector to identify and
verify the amount of repair or remodeling work that needs to be carried out.
• The borrower can carry out the work by himself as long as it is done in a professional manner. Moreover, if
the loan amount is $15,000 or less, the lender need not even come to inspect the completed job.

4. 2. Important Factors to Consider Before Borrowing
• With so many competing loan options and lenders, loan shopping can get as tedious as house hunting.
Taking some time out to deliberate upon certain important questions can help you in the judicious selection
of loan amount as well as lender.
• The first and foremost thing you must consider is the amount of money you will need to start with the
job, and carry on till you reach the point of completion. The money that you can initially manage to borrow
also needs active consideration.
• Like mentioned above there are a lot of loan programs, loan terms, loan options, and lenders. You need to
take all options into account and go for the one that most closely matches all your needs and requirements.
• The third thing to do is to concentrate on the lenders that are the likeliest to provide you with the type of
loan you want with terms and interest rate that are most suitable to you.

5. • A majority of people do not know or like to use their construction loan for remodeling purposes. Most of
them are under the impression that construction loans are solely for construction purposes.
• However, firms providing construction loans in California will tell you that construction loans can be used for
a house you live in if it is in need of some major remodeling or repair job. Construction loans can be also
used for buying a house that needs major remodeling.
3. Conclusion
• A well-maintained house in a pristine condition is definitely worth a lot more than a house in a dilapidated
condition.
• Remodeling loans in California provided by reputable lenders are an excellent option for people who wish
to live in a large house or a house in a good location, but do not have the money to carry out the
remodeling work. If you seek advice or more info on this topic, visit constructionloanhelp.com.

6. Thank You
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