RateState Publishes Guide for Home Improvement Through Refinancing

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RateState has released another article for those without savings that want to improve their home using its equity.

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The specifically mention pools as a poor way of improving the value of one's home, and that adding one may in fact decrease the property's value.

Rate State's latest article explains exactly how one's home equity can be used as a funding source. They explain the options available to homeowners who feel their house isn't quite “complete” without modifications.

In their article, they explain how these goals can be achieved with a “cash out refinance”, saying, “This is where you take the amount of equity you have in the home, borrow against it, and end up with a brand new loan. This is not an additional mortgage payment per month; it is a brand new loan. Your other alternative is what is called a home equity loan. The home equity loan is when you borrow against the equity in your home but you end up with a second loan.”

Rate State is also very clear about what makes a poor investment for those looking to raise their home's value through renovations. They specifically mention pools as a poor way of improving the value of one's home, and that adding one may in fact decrease the property's value.

For more articles about homeownership and general finances, visit RateState's site below.

http://www.ratestate.com/about/

Rate State helps consumers compare today’s mortgage rates through their online comparison tool to ensure they are getting the best rate for their home mortgage or refinance before making their next purchase. They provide consumers with access to the information they need in order to make a decision potentially saving thousands of dollars over the term of their next home loan.

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John Danton
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