Home Equity Can Fund Your Home Improvement Project

Looking to tackle some home improvement projects this year? Tap into home equity to get started now. 

Here at Verve, we have home equity loan options to fund just about any project you can imagine.  Now is the perfect time to leverage the equity you’ve built in your home to access funds for your home improvement projects this year.

Here are three steps to get started:

First, determine your home equity.

What is home equity? It’s the portion of your house that you actually own. To determine yours, subtract your mortgage balance from the market value of your home. For example, if the market value of your home is $250k, and you have a mortgage balance of $100k left on the house, then your home equity is $150k.

Second, choose an affordable project with a high return on investment.

Your home improvement project doesn’t need to break the bank. In fact, if you choose the right projects, your improvements will actually increase the value of your home. According to Forbes, the ten home improvement projects with a high return on investment to tackle in 2024 without breaking the bank include:

• Update the kitchen
• Refresh interior paint
• Refinish hardwood floors
• Update mirrors
• Install new hardware
• Make exterior improvements
• Add more green outside
• Create functional spaces (entryways, mudrooms, closets, etc.)
• Finish the attic and/or basement
• Update the bathroom

Third, do your research. Once you have your budget figured out, work with Verve to determine the home equity loan option that goes to work for you.

 A Home Equity Line of Credit (HELOC), for example, is like a credit card that allows you to draw cash when you need it.  If you’re considering a HELOC, take advantage of our current promotion.

Our dedicated team is here to guide you through the process, answer any questions you may have, and help you make the most informed decisions for your financial future.