Craig Romero of Wise Mortgage Info.com, invites you to reprint this
article in your print publication, ezine, or on your website.
This is a Free-Reprint article. The only requirements for publishing this article
are:
You must leave the article and resource box unedited.
You are not allowed to change our recommendations, nor are
you allowed to change the context of the article.
You may not use this article in UCE (Unsolicited Commercial Email).
Email distribution of this article MUST be opt-in email only.
You must forward a copy of the ezine or newsletter that contains the
article inside to the author at:
Craig@wisemortgageinfo.com.
If you post this article on a website, you MUST set any URL's
in the body of the article and most especially in the Author's
Resource Box as hyperlinks. You must also send us a copy of
the URL where you have posted this article.
If you find any of the rules to be unsavory or unacceptable, please
do not publish this article. While we are happy to make the content
available to you for your own use, we must insist on having our rules
and *Terms of Reprint* honored in full.
Thank you for adhering to these four very simple rules.
Use Your Equity to Make Home Improvements
Copyright 2004, Craig Romero
|
With mortgage rates at all-time lows, it may be time to consider
looking into getting that addition put on your house, or finally
remodeling your kitchen or adding that additional bathroom.
Homeowners who want to begin major home improvement projects
may be able to finance those projects using the equity in their
homes. You can tap into your home equity or cash out by
refinancing your home for more than the balance that you owe
on your old mortgage. And because mortgage rates are so low,
you may be able to do it without a significant increase to
your monthly mortgage payment.
Let’s say you want to add a small addition onto your home, and
the project is going to cost you a total of $20,000.00. If you
currently have a mortgage of $100,000 being financed over 30
years at eight percent interest, your monthly payment is
approximately $970 per month. If you refinance at 6.5% interest,
and add the $20,000 into your refinance, bringing your new
mortgage balance to $120,000, your monthly payment will only go
up approximately $25 per month. Better yet, if you refinance at
5.5%, your monthly payment will actually decrease.
If you have already had the addition added to your home, but you
paid with a credit card or another high-interest loan, you may
still want to look into refinancing. You can take the cash
proceeds from the refinance and pay off the high-interest loan
that you took out to build the addition. You will eliminate the
monthly payment for the high-interest loan and the interest
paid on the refinance may be tax deductible.
Even if you are planning on selling your home, that is even more
of a reason for you to take advantage of this opportunity. Some
home improvements will add more value to your home than the cost
of the improvement itself, bringing you a better price for the
home when you sell it. Certain remodeling projects like kitchen
redesigns and bathroom additions are examples of this, and they
make the home easier to sell.
|
|
Craig Romero is a mortgage analyst dedicated to helping
homeowners maximize the investment in their homes. Visit
his site to learn how to quickly build a minimum of $40,000
worth of home equity and pay your mortgage off in 10 years
or less without making biweekly mortgage payments.
http://www.wisemortgageinfo.com
|
|
The article on this page is Copyright © 2004, Craig Romero
You are not required to show the creative commons license
notice when you reprint this work.
This work is licensed under a
Creative Commons License.
|
|
Article Marketing Tips:
| |
|
- Stand out from the crowds. Educate your prospects and they will turn to you for more knowledge. When they turn to you for more, they will visit your website. It is up to your website copy to sell your products, NOT your article. Provide great information and at your website, address how the prospect will benefit from what you are offering. Using these things in conjuction will help your cash register to ring.
|
|
