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Home Improvement Loans in Pittsburgh and Cleveland

Home Improvement Loan:
Mom is moving in and Stewart decides to make the most of the renovation.


Stewart's mom finally admitted that she could no longer live on her own. Stewart and his wife Denise have been offering to move mom in with them for over a year now. Stewart even offered to put an addition on the house and make a few renovations so mom would have the convenience of living on the first floor. After checking with a contractor, they found it would cost them $20,000 to add another bedroom and bathroom. Their house was valued at $100,000, and they had $30,000 remaining on their loan.

Solution:
A Home Equity Term Loan for $20,000, lets Stewart and Denise finance their remodeling costs, and have the piece of mind that mom is nearby and well taken care of.

The high amount of equity in Stewart and Denise's home ($70,000) also qualifies them for a Home Equity Line of Credit. By adding a Line of Credit to their Home Improvement Loan at the time of application, there are no additional applications to complete. Whether Stewart and Denise access their line of credit now to decorate mom's new space, or wait and use it for another project later this year, they will have the money they need when they need it.


Maximum Loan Amount$50,000

$20,000 Term Loan at 84 month term at 8.74% APR = $319.15 Monthly Payment

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* The scenarios shown above are for explanatory and informational purposes only and do not necessarily reflect terms and conditions being offered by Dollar Bank. All loan applications are subject to Bank underwriting and credit standards and specific loan product guidelines. Consult your tax advisor regarding the deductibility of interest.

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