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Show Make Home a Better Place to Live Many homeowners these warm weather days are remodel ing and repairing their homes with low-cost loans they're able to pay off in convenient monthly payments. You, too, may have a yen to install a new heating system, modernize the kitchen or give your home a fresh coat of paint. Fortunately, if you don't have enough cash on hand, there's no need to put off this work if you follow a few simple rules. First, get estimates from reliable contractors. If a stranger wants your business, you'll do well to check his reputation. Any etsablished contractor will gladly give you references, including the names of satisfied customers. Second, analyze your ' finances. Once you know how much the project's going to cost, determine how much you'll need to borrow and how much you can repay in monthly payments. Third, shop around for the best financial arrangements. Discuss your project with your banker. There are four main ways to finance home improvements that you should inquire about. They are a conventional bank installment loan, an FHA Title I loan, an open-end mortgage , advance and mortgage refinancing. One thing to remember about a conventional bank installment install-ment loan is that it is generally more flexible than an FHA loan in purpose, amount and terms of repayment. |