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125% Home Improvement Loan
125% home improvement loans are home equity loans or credit lines that allow 1st time homebuyers to get access to cash for financing home remodeling and construction with no equity. Nationwide Mortgage Loans offers several competitive no equity loans to help borrowers finance home improvement projects and real estate construction. We specialize in low rate 2nd mortgages from 80% to 125% combined loan to value (cltv).
One of the most popular second mortgages is the 125% home improvement loans. This loan is for homeowners who want to finance home improvements, but do not have much or any equity in their home. After their new 125% second mortgage they have exceeded their home equity by as much as 25%.
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Finance Home Improvements with No Equity! |
| Credit Rating: |
Good or Excellent |
| Key Qualifiers: |
Property Value, Credit Score |
| Income Documentation: |
Full Doc or No stated Income |
125% Home Improvement Loan Terms
- 15 Year Fixed Rate
- 20 Year Fixed Rate
- 25 Year Fixed Rate
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Home Improvement Spending on Remodeling Soars Across the Country |
The South Florida Sun-Sentinel reports that Americans spent an estimated $210 billion on residential remodeling last year, an all-time high, according to the National Association of Home Builders.
The NAHB Remodelers Council forecasts a 13.2 percent jump in remodeling spending this year, to a record $238 billion, the largest increase in spending in more than 10 years.
According to Robyn Friedman, "Three things are driving growth in remodeling. Low interest rates encourage homeowners to take out home equity loans or do a cash-out refinance, which provide cheap funds for home repairs or renovations." Second, the active 2005 hurricane season forced the need for repairs, particularly in the U.S. Gulf Coast states." Third, the resurgence in the rental market has encouraged many apartment building owners to update their properties to maximize rental income.
Regionally, more remodeling is done in the South than in other parts of the nation; it accounts for 31% of all spending on remodeling. The highest per-household spending, however, occurs in the Northeast. The NAHB says the residential remodeling market accounts for about 40% of all home construction. |
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