Michelle Heron

02/23/2021

Interesting post....

So you're thinking about doing a renovation, but don't have the cash. 💰 Well here are a few options to help finance home improvements and renovations!

Let's dive in a little deeper to the most common options:

✔️ 𝙲𝚊𝚜𝚑 𝙾𝚞𝚝 𝚁𝚎𝚏𝚒𝚗𝚊𝚗𝚌𝚎
This type of refinancing replaces your existing mortgage with a new home loan for more than your current loan amount - with the difference being the extra cash. Lenders will generally let you borrow enough to pay off your current mortgage and take out more cash, usually up to 80% of your home’s value. (You must have equity built up in your house to use a cash-out refinance).

✔️ 𝙷𝚘𝚖𝚎 𝙴𝚚𝚞𝚒𝚝𝚢 𝙻𝚒𝚗𝚎 𝚘𝚏 𝙲𝚛𝚎𝚍𝚒𝚝
A HELOC is another way to borrow against the value of your home. With a HELOC, you receive a line of credit — usually up to 80% of your home’s value, minus the amount of your current loan amount.

✔️ 𝙷𝚘𝚖𝚎 𝙴𝚚𝚞𝚒𝚝𝚢 𝙻𝚘𝚊𝚗
With a home equity loan, instead of getting a line of credit that you can tap into as needed, you would receive a lump sum of money. A home equity loan could make sense if you don’t want to do a cash out refinance because you have a low interest rate.

✔️ 𝙲𝚛𝚎𝚍𝚒𝚝 𝙲𝚊𝚛𝚍
Another option for smaller home improvement projects is to use a credit card. This may be a good idea if you can get a 0% introductory rate, and you plan on paying off the amount before the higher interest kicks in. Also look for sign-up bonuses and cashback incentives.

If you're considering a renovation, I can provide lender recommendations, as well as contractors I trust, to help make your dream home a reality. Message me today!🙂

08/15/2020

Congrats to my friend Pam. Fantastic bridal shower...great food, great drinks and of course great company.
@ Sapore

08/06/2020

What an amazing weekend, 2 days of wedding celebrations! A big🍾 heartfelt congratulations to my friends Boris & Nada on their special day.💕🙏🏾 @ Ancaster Mill

07/09/2020

Wondering if I used to much Mircle Grow🤔
@ Meadowvale Village

07/05/2020

Thank you All from the bottom of my heart ❤ for all the Birthday wishes. I truly had an amazing day.🙏🏾🇨🇦
@ Meadowvale Village

04/18/2020

Couple months ago I was looking for these white boxes for a staging project but all sold out at Z Gallerie 🙄

Credit: 📸

04/16/2020

Stay Home, Stay Safe!
̇d19

04/08/2020

Very interesting Housing stats for the month of March 2020. Our TRREB President announced a few days ago that March 2020 home sales were 8,012 which was up 12.3% compared to 7,132 sales reported in March 2019. Despite COVID-19 hitting the GTA approximately March 15th, as a whole March 2020 sales was strong. This would represent a 49% increase😯 compared to the first 14 days of March 2019.

@ Mississauga, Ontario

02/25/2020

Words can't express how happy I am for my clients who purchased there dream home, a floating boat house. Just the cutest little home with amazing sunsets. Without a doubt this has been the most interesting transaction I've ever done. This is why I love what I do. 🙏🏾🙂 @ Toronto, Ontario

02/21/2020

Excited for my extremely happy client.

12/05/2019

Interesting stats for the month of November 2019. York region had some strong numbers.
@ Mississauga, Ontario

11/25/2019

Feeling blessed 🙏🏾and grateful that my clients trust me in selling/buying their home. Thank you. 🙂