Financing
Paying for a remodel: the options, without the pitch.
A short guide to how homeowners commonly fund a remodel, and who to call if you want to talk it through with a loan officer.
Common ways to fund a remodel.
Which one fits depends on your equity, your current rate and the size of the job. None is right for everyone.
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Cash-out refinance
Replace your current mortgage with a larger one and take the difference in cash. You end up with one payment, but the new rate applies to the whole balance, so compare it to what you have now.
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Home equity line of credit (HELOC)
A revolving line secured by your home that you draw on as the work progresses. Rates are often variable, so the payment can change.
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Renovation loans
Mortgages that bundle the cost of the remodel into one loan, sized in part on what the home will be worth afterward. Examples include FHA 203(k) and conventional renovation loans. They come with extra paperwork and contractor requirements, and details vary by lender.
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Phasing the project
Another way to spread cost is to design everything up front and build in phases. Ask us about it at the estimate. See whole-home remodeling.
Talk it through with a loan officer.
Homeowners who ask us about financing are pointed to Melissa Bristol, a loan officer with AP Mortgage.
- Loan officer
Melissa Bristol
NMLS #678850
- Company
AP Mortgage · NMLS #1850
- Office
- Cell
- Address
980 9th St., Suite 1780
Sacramento, CA 95814
Melissa Bristol is an independent loan officer with AP Mortgage. She is not part of Bristol Construction, and financing is not a service we provide. Any loan is an agreement between you and the lender. Rates, terms and approval depend on credit, income, the property and lender guidelines, and nothing on this page is an offer or commitment to lend. You can look up licensing at NMLS Consumer Access.
A few honest answers
Does Bristol Construction offer loans?
No. We’re a licensed contractor, not a lender. Financing questions go to a loan officer, whether Melissa or one you already work with.
Do I need financing in place before I get a proposal?
No. The estimate and fixed-price proposal don’t commit you to anything, and having a real number first makes any loan conversation more concrete.
Does financing change my contract price?
No. Our price covers the scope of work. Interest and loan fees are separate, between you and your lender.
Get the number first.
A fixed-price proposal gives a loan officer, or your own savings, something concrete to plan around.