1596 Motor Inn Drive
Girard, Ohio 44420-2496
Atlanta Replacement Window Loans
When you decide to improve the energy efficiency of your Atlanta home by having new windows and doors installed, you are making a solid investment. You will save money every month when the energy bills arrive, and you will be increasing the value of your home. And perhaps the best news is that when you install qualified Energy Star windows and doors, you get a federal tax credit equaling 30% of the purchase price (up to a max of $1500 off your tax liability). In a very real sense, you can’t afford not to have a qualified Atlanta window replacement professional install energy efficient windows and doors into your home.
However, many of us need to take out a loan to finance home improvements like door and window replacement, and we would like to share a few guidelines to help you get through the process of applying for a home improvement loan. Though we use the term “home improvement loan” here, loans that are going to be used for the purpose of home improvement are in just about every case going to be secured by the equity that you have in your home; these loans are aptly termed “home equity loans” by lending institutions. If you have obtained a mortgage in order to buy your home, you know how to apply for a loan and you realize that you need to assemble your proof of income and tax return information. But as a reminder, listed below are some of the documents that you need to gather before you apply for a home equity loan for the purpose of home improvement. Exactly what is required will vary depending on the parameters set forth by the lending institution that you choose:
● Proof of income from all sources
● Your income tax returns for the last two years
● Last year’s W-2 form (unless you own your own business)
● Recent mortgage and bank statement
● Contract of home purchase (if applicable)
● Proof of additional assets and/or liabilities
Any time you are going to apply for a loan of any kind, you need to know what your credit score is so that you can negotiate the best rate of interest that is available to you. All consumers are entitled to a free copy of their credit report once a year, and if you do an online search you can find a number of different sources that can provide you with this information. If you see something in your credit report that is inaccurate, you need to contact the credit reporting bureau and take the necessary steps to correct it.
Credit score values move around a little bit all the time like the average of any group of numbers, but at this writing a credit score of around 720 will enable a borrower to get the very best rate of interest, and a score of at least 680 may be good enough to get you the prime rate. If your score is under 680 and you are approved for a loan your interest rate will be higher because you are perceived as a greater risk than those with scores of around 700 and above.
They say that it takes money to make money, and there are few home improvement projects that you can invest in that offer a more immediate yield than the installation of energy efficient Energy Star qualified doors and windows. Here in Atlanta, the name to remember for replacement windows and doors is WeatherTite Windows. We have the experience and expertise that it takes to get the job done right and save you money while beautifying and improving your home. If you are ready to take advantage of the tax credit that is available to you, give us a call at (770) 578-2333 and we will be glad to give you a free estimate. Don’t trust your home to just anyone. Call the Atlanta window replacement pros at WeatherTite Windows.
1 Comment »
RSS feed for comments on this post. TrackBack URL
I hope my credit score is above 680, or I may have to hold off on window repairs this year.
Comment by Kyle Obrock — February 3, 2010 @ 2:26 pm