If you’re thinking about taking out a home improvement loan, there are several options to consider. First and foremost, your mortgage consultant needs to know why you want a home improvement loan. Here are some factors to take into consideration.

• How long have you been in the home?
• Will the improvements increase the property value?
• Are you making improvements to increase energy efficiency?
• Will improvements be made in one fell swoop, or in stages?
• What is the current outstanding balance on your mortgage?
• What is the appraised value of the home?
• How much will the improvements cost?
• What improvements will be tax deductible?
• Do you have other revolving debt that you would like to pay off at the same time?

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