If you've had your home for a several years and the kitchen is looking tired or one bathroom is just not enough, now is a good time to look at financing a home remodel. It is probably far easier to get financing than you think

Getting a home improvement loan by using the equity in your house is far easier than it used to be. It can also be a smart idea. "Home equity lines of credit are typically a far cheaper way to borrow money," according to Lauren Prince, a financial planner in Manhattan. It's smarter than using a credit card. If you get an unsecured loan "you're going to end up paying a lot more for the home improvement than you ever thought," Prince notes. It would be better to get a home equity loan or home equity line of credit as a construction loan for your remodel.

Generally speaking, being approved for a home equity loan is a swift and painless process. You may not need to have your home assessed or gather masses of paper work to close your loan. In fact most consumers get their loans over the phone or the internet and have their money within weeks.

Another option is mortgage refinancing to cash out your equity and use the money for improvements. If you financed your home with an adjustable rate mortgage, now may be the right time refinance for a fixed rate loan before the rates rise further anyway.

If you are careful about what you remodel, sticking to improvements that tend to increase the value of a home, like kitchen enhancements and bathroom additions, you can get back the money you have invested if you sell your house. You will also get a tax break on the interest on your 2nd mortgage. Using your equity to improve your property can be an excellent investment!

For the latest interest rates for fixed rate mortgages and interest only credit lines, please visit the online resources at BD Second Mortgage & Equity Loans. If you need more loan advice about credit lines and home improvement loans, take a look at the flexible programs offered for second mortgage loans.

About the Author

Rebecca is a respected writer and article contributor to the Desert Magazine and Los Angeles Times. Please visit these additional resource websites: To get a free loan quote for home equity loans to 125%.