The Homeowner’s Guide to Kitchen Remodel Financing

So, you’ve been dreaming of remodeling your kitchen without breaking your bank account. You’re not alone, because the nationwide average cost of a kitchen remodel is $18,856.

You might think that you can’t afford it — but have you considered kitchen remodel financing? If the answer is no, you should consider a kitchen remodel loan to make your dream come true.

Not sure if a remodeling loan is right for you? We’ll tell you how to get one and why you should consider it.

Here are some steps you should follow to land the right loan for your kitchen remodel today:

1. Plan and Budget Your Kitchen Remodel

Before shopping around for a loan, it’s essential that you plan your remodel. A kitchen must meet your needs.

Do you need more storage space? Are you planning on replacing your countertops? Does your kitchen need new plumbing? These are some of the questions that can guide you in your kitchen remodeling planning.

It’s important that you create a realistic budget according to your kitchen improvements. If you are trying to figure out ways to lower your costs, consider sourcing your own materials or doing some of the easier tasks yourself.

2. Get a Contractor Quote

Once you have your kitchen remodeling plan, you should consult a contractor. They can provide a quote for the project. It’s recommended that you shop around to find the right contractor for the job.

Not all contractors are the same. You should choose a contractor that fits your budget and project.

3. Fill Out Our Pre-Qualification Form

Finding the right lender is one of the most difficult tasks. But, it will be easier if you get pre-qualified. By using our 60-second pre-qualification form, you can receive up to 10 quotes at once from different lenders.

You won’t have to contact them to know your rates and possible loan amount. After comparing your quotes, choose the lender that fits your situation and provides the amount of funding you need.

4. Complete the Process at Your Chosen Lender

Once you decide on your lender, you must complete the required steps at your lender’s website. They will ask you to submit your personal and financial information to complete your application.

Your lender will process your loan after your submission. They will transfer the funds to your account after loan approval.

Should You Consider Kitchen Remodel Financing for Your Project?

Yes, you should consider kitchen remodel financing for your project. Planning your project and budget is half the story. To find the right lender, it’s best to get pre-qualified and compare quotes from different creditors, without affecting your credit.

In today’s market, the possibilities are endless. Don’t fall into the trap of thinking you won’t find competitive rates for your kitchen remodeling loan.

You might be eligible for interest rates as low as 4.99 percent APR depending on your credit and financial situation. Also, your lender may offer loans of up to 50,000 dollars. Don’t sell yourself short and choose the right lender to make your dream come true by getting the kitchen of your dreams.

Are you planning your next home improvement project? Want to learn tips to obtain the financing you need? Read our article to learn more.