Paying for your roof or siding project
Most of our clients pay with savings, a home equity line, or a renovation loan. Here is how each works.
Home equity line of credit (HELOC)
If you have equity, a HELOC lets you draw funds as the project progresses and pay interest only on what you use. Most banks and credit unions offer them.
Cash-out refinance
Replaces your mortgage with a larger one and gives you the difference in cash. Compare the new rate to your current one before choosing this route.
Renovation loans (buying or refinancing)
FHA 203(k), Fannie Mae HomeStyle, Freddie Mac CHOICERenovation, and VA renovation loans roll the cost of the work into your mortgage, based on the home's value after the work is done. They are especially useful when buying a house that needs work. DMF has completed projects under 203(k) loans and is used to working with the consultants and draw schedules these loans require.
Learn more about renovation loans at www.nj203k.com.
Paying DMF
Your payment schedule is written into your contract and tied to project milestones, so you only pay as work is completed.
DMF Construction is a home improvement contractor, not a lender, and does not arrange or guarantee financing. You are free to use any lender. Financing information on this page is general and educational. Affiliated business disclosure: a principal of DMF Construction is also a licensed mortgage professional. You are not required to use any particular lender as a condition of working with DMF.