Video: Don't Make Home Improvements Using Your Mortgage Loan

Jordan Goodman shares How Best to Borrow Money for Home Improvements in this Exclusive MoneyTips video

January 5, 2017

Have you found your dream house, but it's still short a few finishing touches? According to Jordan Goodman, America's Money Answers Man, you should not be funding any improvements with your home purchase loan. Learn another way to get the much-needed funds in this exclusive MoneyTips video.

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Erin | 01.04.17 @ 18:21
I definitely would not want to take 30 years to pay off a loan for small home improvements. I can see where people might feel they have no other options though. I'd be interested in seeing a video on how HELOCs work and the advantages and risks to using them.
Chrisitna | 01.04.17 @ 18:21
Interesting. It makes sense to borrow as little as possible when you consider that the loan is for 30 years!
Zanna | 01.04.17 @ 20:04
We did refinance to do some home improvements, but with a shorter term loan. I would like to learn more about the HELOCs and how those work.
Nancy | 01.05.17 @ 06:48
I have not really considered this, but this makes sense. Why would you want to finance Home Improvements over 30 years and pay all of that interest.
Crystal | 01.06.17 @ 14:42
I rolled improvements into a home loan once. It was just easier and quicker to go this route. Thanks for the info!
$commenter.renderDisplayableName() | 12.03.20 @ 03:31