Financing Options
A remodeling project can be a large investment and finding financing can be tricky. Hopefully these resources help you get the financing you need to make your home your castle!
Project Size $100 - $5,000
Credit Cards accepted for final payments up to 50% of project costs, $5,000 max.
Project Size $5,000+
If you do not already have financing in place, we recommend that you call Mary Taylor of Residential Mortgage Group. Mary can analyze your particular construction financing scenario and advise you on a number of options. She will walk you through the loan process — from beginning to end — so you are fully informed about the terms of your construction loan and any end mortgage you may need. Mary consistently closes all loans on time and comes to clients’ closing. She will secure a competitive rate for you, has more than ten years of experience and is friendly. You will come away feeling confident and relieved that you have a mortgage you can trust.
Mary Taylor, Loan Officer
Residential Mortgage Group
612.940.7654
mary@rmgmn.com
Project Size $0-$25,000
Wells Fargo Home Projects Credit Card. Finance between 70% (Special Projects) and 30% (Design Build Projects) of your project. Two options available. 12 months no interest or up to 60 months at 9.9% interest*.
Project Size $5,000 - $100,000
Home Equity Line of Credit (HELOC) - Talk to your bank about this option. This will depend on the amount of equity you have in your home.
Neighborhood Resources - Low Interest & Forgivable Loans & Energy Improvement Financing
| NEC - Neighborhood Energy Connection - (651) 227-4462 |  |
| CEE - Center for Energy and Environment - (612) 335-5884 |  |
| HRC - Housing Resource Center - (612) 378-7985 |  |
Utility & State Based Grant, Rebates, and Loan Programs
Visit http://www.dsireusa.org for more info
Project Size Up to $417,000 final mortgage
203K Loans - Refinancing based on future value of home. Works to buy and remodel or fix up your home even when equity is low.
Dale Streiff - (651) 205-9543
Project Size $100,000+
Construction Loans - One way is to take advantage of the equity position that you have in your home to quickly and easily obtain a second mortgage. Frequently, mortgage lenders will allow the added value of the future remodel to be included in their home's appraisal.
Stacey Carol Quinn (952) 837-1111
Email Stacey: squinn@1sttrustmortgage.com
www.1sttrustmortgage.com
* Interest will be charged to your account from the purchase date if the purchase balance is not paid in full within the promotional period or if you make a late payment. The Home Projects® Visa® card is issued by Wells Fargo Financial National Bank. Special terms apply to purchases charged with approved credit at participating merchants. Regular minimum monthly payments are required during the promotional period. Interest will be charged to your account from the purchase date at the regular APR if the purchase balance is not paid in full within the promotional period or if you make a late payment. For newly opened accounts, the regular APR is 27.99%. The APR may vary. The APR is given as of. If you are charged interest in any billing cycle, the minimum interest charge will be $1.00. If you use the card for cash advances, the cash advance fee is 5% of the amount of the cash advance, but not less than $10.00.
** Castle Building & Remodeling does not provide any financing directly to clients. All financing based on approved credit. Please call 612-789-8509x2 or 651-699-4164x2 with questions.
