PITI the Fool - Home Improvement Loan

Home Improvement Loan - Tossin' Nails

I may be champion of the universe, but I ain't no nail-hittin, sand-blastin laborer. And when a man like me need something new, has a desire to enjoy the finer things in life, I gotta take out a home improvement loan:

I ain't got the time or the patience to learn howwda tile no shower, foo!
I ain't got no $10,000 to replace my sink, tub, and bidet right now, but it all gots ta be fixed!

A man's got needs, and I PITI the Fool who don't be fixin' their commode without the help of home equity.

Home improvement loan hits

As with all home equity loans, you be takin' a major chance when you access that equity and put your funds toward home improvements. You never know what your home improvements will do to the value and comfort of you home, and while you might hope and plan for the best the best doesn't always come out at the end. So before you even take out those home improvement loans you gotta have a plan, kid! You gotta have an improvement plan!

Take a good look at your home and see what really needs to be fixed.
Take a look at interest rates and costs attached to your prospective home improvement loan to see if you can afford the extra burned of an additional monthly payment.
Decide now if you know exactly how much money you need in your new home loan, or if the cost is open ended. If it is open ended, consider a Home Equity Line Of Credit ( HELOC).
Ask around to realtors in your area and see what improvements are the most sure to result in an increase in your home's equity, and only improve that which will result in equity gains.
Take all this information and bring it to the person providing your home improvement loan, and beat 'em good!

Beat your lender over the head with all this excess information! Get tough! You gotta get hard on your home improvement loan and come in with a certified, bona-fide plan. the more you know, and the more sure you are in your own financial success, the lower rates you will see attached to your home loan.

Lets get dirty

The greatest thing about a home improvement loan is that you can use it to fix anything in your house. The worst thing about a home improvement loan is you can use it t fix anything in your house! Don't be a chump, don't go on an spend 20 g's to stucco over a few small cracks - thats chumps work and will not create significant gains in your equity. Paint the bad boy, put in a pool! Get some new kitchen appliances and make the home buyer say Wow! Get smart on your home equity loan before your home equity turns around and gets smart on you!