Going Green: Home Equity Financing Can Help

By Karen Lawson
LoanPage.com Columnist

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Environmental technology is advancing and making environmentally friendly home improvements more accessible than ever. Local utility and water suppliers can supply information about home improvements that can help conserve resources while reducing your utility and water costs. Using home equity for financing environmentally friendly home improvements can be a good investment.

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Home Equity Financing Offers Flexible Terms

Depending on the nature and scope of your home improvement plans, you can choose home equity financing that meets your needs. As mortgage trends continue to change, it's a good idea to carefully consider your home improvement plants to ensure that they can preserve or increase the value of your home.

A home equity line of credit (HELOC) is a revolving type of mortgage financing that allows you to borrow what you need when you need it. This can come in handy for long term projects that require an initial deposit and periodic payments to contractors and suppliers. It's important to keep in mind that HELOC loans are mortgage loans secured by your home.

Researching home improvement projects before committing to a project can help ensure that you get the most out of home equity financing and your home improvement projects. If you live in the desert, conserving water is a high priority, while conserving home heating energy may be your goal if you live in a cool climate. Local real estate professionals and environmental consultants can help you choose projects appropriate for your home and budget. Using licensed contractors and checking references can assist in achieving successful results.

About the Author
Karen Lawson became a freelance writer after working in the mortgage industry for more than fifteen years. She holds BA and MA degrees in English from the University of Nevada, Reno.

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