Discover Bank Home Improvement: Use Equity Loan For Home Improvement

For those of you that are looking to make some big ups on your next home improvement project, considering just how much it cost to make your idealistic home a reality is and always will be costly. Fortunately enough, Discover Bank offers Home Improvement Loans for those of you that just don’t have the money out of pocket for your home renovating plans.

So improve your home, and the life you live there, whether you’re making a home addition, remodeling, or even going green, Discover’s Home Improvement Loans may be able to help you out with loans upwards of $35,000 – $150,000 deducted up to 100% of your interest on taxes (consult your tax advisor to see if you qualify).  On top of that, save money with low rates, low monthly payments, zero origination fees, and zero closing costs attached!

Discover Home Improvement In-Depth:

One popular use for a home equity loan is making your home even better. That big remodel or new addition might seem like a dream, but we can help you make it real with a home equity loan. You can get access to your home equity to do any of the following:

• Home addition:
  • Imagine life with a sunroom or porch addition—or finally enough bathrooms for everyone.
• Home Remodel:
  • Time to finish the basement or update the kitchen? Let’s do this.
• Going Green:
  • Installing efficient appliances is an investment in your future —and everyone’s.

From simply replacing the front door to constructing a second story, home improvement projects can change the way you look at your home. The right home improvements can also increase your home’s value.

One detrimental question you should as yourself is where do I start? The two main factors you should consider when deciding what home improvement project you want to grab ahold of first are the return on investment and your lifestyle. If you’re looking to sell your home soon, or you’re planning to carry more projects in your home for many years to come, then you should have already settled on just what you want. Below are some pretty solid projects I recommend anyone to undergo:

• Bathroom and kitchen remodels earn higher return on investment in older homes. Remodeling a five-year old kitchen isn’t likely to generate a high rate of return.
• Remodels should match the existing home style. Modernist bathrooms in a Victorian home will make the rest of the house look outdated.
• Research other home values in the neighborhood to ensure you don’t price your home out of the market by adding a second story.

Who should I contact to begin a home renovation?

Once you’ve decided on a home improvement project how do you get started? Determining the project budget. Lowe’s, and HomeRenovationEstimate.com both have project calculators that can help you determine a ballpark figure.

Start looking for trustworthy contractors and gather an estimate on how much the renovation would cost, of course, if you’re not planning on doing the work yourself. Discuss the details of the project with these contractors and request bids. A home equity loan is an excellent way to use the equity you have already built to reinvest in your property, with usually much lower interest rates than credit cards and in many cases, the interest payments can be tax deductible.

Talk to your tax advisor to see if you qualify. Contact your personal banker to explore the options for this type of home improvement financing.

Discover Home Improvement Loan Features:

• Borrow between $35,000 – $150,000.
• Deduct up to 100% of your interest on taxes (consult your tax advisor to see if you qualify).
• Save money with low rates, low monthly payments, zero origination fees, and zero closing costs.

Conclusion:

Possibly one of the most popular uses of your home equity loan is making your home even more comfortable to live in. That big remodeling or new addition not only increases the value of your home (when done right), but makes it so much more sustainable, especially if you have kids. Now this project may seem like a dream, which is why Discover Bank offers Home Equity Loans in cases where you can even borrow up to $150,000 depending on your project estimate.

On top of that, save money with low rates, low monthly payments, zero origination fees, and zero closing costs. Whether it be a new home addition, remodeling or you’re going green, Discover’s got your back. Before you get your hands on this loan, make sure you are knowledgeable of the interest rate attached, and make sure that you’re working with a trustworthy contractor. Check out our Best Mortgage Rates for all your home-buying needs!