FINANCING

The home improvement loan is the most popular option. A minimum credit score of 660 is required and a credit score 700+ is preferred.  It offers the lowest rates, longest terms, and interest is tax deductible.

If you just moved into a new home, you may still qualify for a home improvement loan. Certain home improvement programs will allow purchase price to serve as basis of calculation for up to two years after purchase.

To calculate what you may be able to finance with a home improvement loan, you will need the following pieces of information:

• Current Home Value – purchase price for recent purchase or appraised value. A good way of estimating appraised value is to look up your home on the county appraisal district and add 10%. (Ellis County www.elliscad.com) 
  
  
• Current Mortgage Balance
  
  
• Credit Score

What is the typical interest rate for a home improvement loan?

Interest rates are determined uniquely for each customer based on the following:

• Credit Score
• Debt-to-Income
• Length of Terms
• Amount Borrowed
• Loan-to-Value

Please contact one of our preferred lenders for additional program and rate information.

Our Recommendations:

Ellis County Customers, existing home equity, and credit scores above 700 will likely find their best program with First Financial Bank.

Customers outside of Ellis County, existing home equity, and credit scores above 700 will likely find their best program with Certified Funding, L.P.

Customers have just moved into a new home and/or limited on home equity will likely find their best program with Certified Funding Home Improvement or an unsecured loan with one of our unsecured lending partners.