Loans

Millennials Love Home-Equity Loans. For Vacations
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Millennials Love Home-Equity Loans. For Vacations

Some millennials are going into debt to fund their travels. More

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Financing--It's Back

More money, new lenders, and relaxed credit standards revitalize the once-flagging market for home improvement financing. More

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High Credit Scores Required in Today's World of Unsecured Financing

Brandon Perry, president of AMS Financial Solutions, in Charleston, S.C., talks about home improvement financing. More

Incentives Drive Home Performance Projects
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Incentives Drive Home Performance Projects

Local weatherization programs gear up to help homeowners finance energy-efficient... More

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Where Have All The Lenders Gone?

How the credit crunch has affected the way home improvement companies do business More

Crunch Time
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Crunch Time

Home improvement companies that offer financing adjust to tighter credit standards... More

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Home Improvement Financing

If financing is something you've never thought much about, keep reading. Our lead feature, "Custom Fit," is a primer on what kind of financing products are available and how they match up with different customer types. "Same-as-Cash" takes an in-depth look at what it takes to make a zero-percent financing offer work -- and what might cause it to backfire. Finally, in "Second Chance," we provide answers about subprime lending. The mortgage crisis in the housing markets is a special case, but second-tier financing isn't as risky as all the headlines make it seem. More

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Same-as-Cash Financing

Retailers such as The Home Depot and Best Buy have found deferred-interest "same-as-cash" credit promotions an effective way to increase sales. The store lets the customer walk away with the purchase for no money down, and agrees to not charge interest if they pay in full before an agreed-on deadline, which could be 30 days, 6 months, or 1 year from the date of purchase. More

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Custom Fit

Most contractors find that people who finance home improvements tend to spend more than those who pay cash. Contractors who understand the various types of credit products and know how to present them will be more likely to lead the customer to make the decision to finance. More

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Special Financing Section: Loans of Your Own

For most remodelers, the offer of financing consists of matching up the customerwith a lender, whether that lender is a big finance company or a localbank. The remodeler makes no money on the deal, but also assumes no risk. Thepayoff is in the quality and volume of work they get, as well as in happiercustomers. More

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