Here are some of the remodel finance strategies I’ve seen over the years:
— Sale of stocks
— Cash inheritance from family
— Cash-out refinance
— Sale of elderly parent’s home to pay for remodel, which included a secondary unit for said elderly parent
— Construction loan (based on value of house after upcoming remodel)
— Savings (does anyone save anymore?)
— Credit cards (sad but true)
— Equity line of credit
— Tax return
— Company bonus
— Second mortgage
— Earnings from hit TV show (hey, this is L.A.)
To help you figure out your own financing options, John Sway, a loan guy, will be will be available all week to answer your online questions about getting money for a remodel.
To be accurate, John Sway is more than just a “loan guy.” He’s actually a vice president at Wells Fargo Mortgage and his title is: National Renovation Manager. Based in San Diego, John really knows about renovation lending. He’s been quoted in the L.A. Times (I’ve interviewed him several times over the past decade), Chicago Tribune, the New York Times, and countless national magazines.
Read today’s story on Charles Chang’s victory and see what smart financing can do for you.
What’s your question for the loan guy?