*UPDATE: This article originally focused on the HomePath Renovation loan. That program was discontinued in October 2014. However, other renovation mortgage options do exist - like FHA 203k and HomeStyle Renovation! Read more here.
I was watching TV over the weekend, and saw a promo for a couple of Mike Holmes shows on DIY-network. It got me thinking: a lot of folks love do-it-your-self work. While home improvement loans don't promote DIY work necessarily, it's not out of the question. The FHA 203k is less forgiving, but HomePath Renovation lays out specific guidelines for just this occasion. Let's look at 5 do-it-yourself repairs you can do under the HomePath Renovation mortgage.Download our Ultimate Guide to Home Improvement Loans and learn more about all your renovation options.
- House painting - You can paint the interior or exterior of your house and have the cost financed into your HomePath mortgage. Whether it's a matter of taste or the paint is peeling and it needs repainting, it's covered.
- Buy and install new appliances - From missing appliances to old ones that need updating, you can buy new ones and put them in yourself.
- Replace floors with DIY laminate flooring - Laminate floors come with pretty easy directions, and many people can install them on their own (I did, and I'm definitely no Bob Vila!). You could always hire a professional, but if flooring installation sounds like a challenge you want to take on, then you can roll the cost into your HomePath Renovation mortgage.
- Build or repair a deck - What better way to enjoy your new house than with a cookout with your friends and a deck-building party!
- Install gutters and downspouts - I've never done it, and I have no idea how difficult it would be to make sure every gutter is laid out just right so it drains properly, but it's a project you could do yourself, if you want.
Is your house finally ready to take on that home improvement project you've been talking about, but you don't have the home equity you need? Maybe it's time for your dream kitchen or possibly the sun room off the back of the house this spring. Or, maybe you're looking at a new home purchase, but the property needs a little "TLC" to get move-in ready. Whatever your renovation or home improvement need may be, AmeriFirst is here to help. Granted, we may not be there swinging the hammer or holding a paint brush, but we'll be with you every step of the way for your home improvement loans.
You can learn more about all the renovation loans available at AmeriFirst at the button below. Download your free copy today, and arm yourself with the knowledge it takes to buy a home and fix it up into your dream home!
(paint brush photo: Flickr user Alan Cleaver)
*This article was originally published on October 31, 2011, and has since been updated for accuracy and comprehensiveness.