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David Fabbo Is Proud To Offer
Our Customers Financing With GE Money |
Differences between a home equity line of credit (HELOC) and a home equity installment loan.
| GE Money Home Equity Line of Credit (HELOC) |
GE Money Home Equity Installment Loan |
| Variable interest rate. Interest rate goes up or down depending on the current prime rate. |
Fixed rate. Your interest rate and payments stay the same for the life of your loan. |
| Revolving repayment. As you pay down your loan, you can borrow money up to your credit limit anytime by writing a check. |
Fixed repayment. You can choose a term that works for you — 5 years, 10 years or up to 20 years. |
| Continuous borrowing. Great for funding ongoing projects and purchases like home improvement or college tuition. |
One-time borrowing. Ideal for car purchases, vacations, weddings, home additions, and more. |
| Flexible. When you want the ability to borrow on an as-needed basis. Monthly payments will go up or down depending on your balance. |
Predictable. When you know exactly how much you want to borrow and how much you want to pay per month, this is an ideal solution. |
| Get pre-qualified now for a GE Money Home Equity Loan |
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Financing Information for Your
Home Improvement Project
A home improvement project is usually a major purchase which needs to be planned. There are a number of payment options available to you. Your needs and financial situation will likely determine which is the right one for you although more than one may work for any specific individual.
Cash - the obvious one. If you don't fit into the group that can pay for major repairs by simply opening your check book don't worry, you're not alone.
Credit Card - while credit cards will typically have a higher interest rate this may be a reasonable alternative for a smaller project that you believe can be paid off in a few months.
Contractor Payments - it's not necessarily common but there are contractors that will either offer you financing themselves or through a company partner.
Home Improvement Loan -this is likely the most common alternative for large home improvement needs. There are a number of options available to you. Again, your individual situation will likely narrow the list for you.
- Mortgage/Re-financing a Mortgage
- Equity Loan or Equity Line of Credit
- Home Improvement Loan
- Personal Loan
Be certain you are looking at only reputable lending companies when it comes to researching a loan. Never allow yourself to be rushed into making a decision or signing any papers. |
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