Renovation Loans

Renovation Loans

Fast and competitive home renovation loans — Universal Finance Corporation 

If you’re dreaming of a new kitchen, an expanded living space or an energy-efficient upgrade, a renovation loan can make these dreams a reality. Universal Finance Corporation can help simplify your search for the perfect home renovation loan. 

Book an appointment with Universal Finance Corporation today to get your renovation loan application started. 


What are renovation loans? 

A renovation loan is a type of loan that can be used to upgrade or improve your property. This type of loan covers several projects, from basic repairs to major remodels or even adding a new room. The key advantage of a renovation loan over other types of financing is that it is often secured against the property itself, potentially offering lower interest rates and longer, more flexible repayment terms.


Other benefits of renovation loans include:

  • Increased home value — Upgrading your home can significantly increase its market value, which can mean bigger profits when it’s time to sell.
  • Customised improvements — By having a fixed amount of funds to spend on your property, you’ll be able to tailor your living space to meet your needs and aesthetic desires.
  • Potential tax benefits — Certain renovations can provide tax benefits, reducing the overall cost of your project. Just ensure you keep a record of your loan payments when the time comes to apply for these benefits. 
  • Flexible funding options — Renovation loans can be adjusted to match the scale of your project, ensuring you don’t borrow more than you need. Your lender may also give you more control over your repayment schedule, allowing you to pay off your loan on a schedule that aligns with your lifestyle. 


How Universal Finance Corporation can help you find the right loan for home renovations

At Universal Finance Corporation, we understand that each homeowner's needs and financial situation are unique. That's why we offer a client-focused service to help you find the best home renovation loan that fits your specific circumstances. Our brokers work closely with you to understand your project goals, financial situation and the potential return on investment for your planned renovations.


We guide you through the entire process:

  • Application — Assisting with putting together your application to ensure you meet all criteria to maximise the chances of loan approval.
  • Secure funding — We negotiate with lenders on your behalf to secure competitive rates and terms to ensure your loan is as low cost as possible. 
  • Ongoing support — Even after your renovation loan is settled, we’ll always be a phone call away to answer any questions you may have regarding your loan. 


Find the best home renovation loan with Universal Finance Corporation 

Take the first step toward your dream renovation by getting in touch with Universal Finance Corporation. With our expert guidance and wide range of renovation financing options, securing funding for your upcoming renovation will be streamlined and hassle-free. Get in touch with us today to find out how much you could borrow for a renovation loan.


FAQs

  • What is a renovation loan?

    A renovation loan is a financing option specifically designed for funding the improvement or repair of a home. Home renovation loans cover costs associated with structural and aesthetic updates and may be typically secured by the property itself. While some homeowners take out these loans to transform their properties into their ideal living space, some often use renovation loans to increase the value of their homes when they’re looking to sell.

    Essentially, refinancing your home loan restructures your mortgage to better suit your current financial situation.

  • How do I qualify for a renovation loan?

    To qualify for renovation financing, you typically need a good credit score, a stable income and a reasonable debt-to-income ratio. Depending on the lender, they may also want to see your renovation plans and assess the current value of your property and the estimated value after improvements to determine your eligibility. 

  • How can Universal Finance Corporation help with renovation loans?

    With so many renovation loans to choose from, Universal Finance Corporation can help you narrow down your search. As experienced renovation loan brokers, we handle the entire loan process, from application to approval, liaising with lenders to secure the best home renovation loan for your circumstances. All you need to do is start prepping for your renovation.


Share by: