La Mesa, CA (619) 466-5100

San Diego, CA (858) 693-4000



"During the last several months I've had the chance to actually use our gorgeous new kitchen day in and day out and I've come to appreciate...

R. Farb, Del Mar

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Funding Your Remodel

Many remodeling projects will return a significantly higher value on resale of the home than they cost to complete. So a remodel will not only improve your lifestyle but can also help you get ahead financially. Since the decision to remodel is as much financial as it is emotional, you will need to be prepared financially to fund your remodel. Below are a few suggestions for funding your remodel and they are followed by the names of a few financial institutions that may be helpful.


Funding your remodel with savings is a great way to go. Investing your savings into your home gives you a sense of satisfaction; you will reap the benefits of your hard-earned savings everyday. This does not mean you have to put a lot of money in an account at one time; all it takes is small amounts over a period of time. Just a little at a time and you will watch your money accumulate quickly.

Refinance, the Most Helpful Way

A cash out refinance is usually a very good way to pay for a remodel, especially when rates are low. In some cases even when you take the money out for the remodel you still may have a lower payment due to lower rates or an increase in the term of your loan. If you can get your remodel funded and get a great new loan, then go for it.

A home equity line is another way to get the money to remodel. Home equity lines are designed for this purpose. This approach allows you to borrow against the equity you have in your home to get the money to further improve your home. The interest paid on home equity loans also can be tax deductible, so check with your accountant to see if you can save even more on your taxes.

A refinance or a home equity loan can generally be completed by your local bank. Your local bank is the best place to start; if they do not have a product that works for you they will normally recommend another institution. However, do not just depend on your local bank; get rates and terms from other banks and compare. Saving 1% on a loan can mean thousands of dollars back in your pocket.

A little pre-planning and a little research can go a long way towards affordably funding your new remodel.

Financial Resources

Wells Fargo Home Loans

Wells Fargo Home Equity Lines

Bank of America Home Loans and Equity Lines

Lending Tree

Quicken Loans

San Diego National Bank