Financing Available
Your Home Remodeling Loan and Financing Options
Square Deal Construction has partnered with EnerBank and Renofi.
The most common financing options are as follows: Cash-Out Refinance, Home Equity Line of Credit (HELOC) Same-as-Cash (SAC), Reduced Interest Loans (RIL), Traditional Installment Loans (TIL), and Zero Interest Loans (ZIL). Click below to learn more about each financing or loan type.
Another option you have if you have equity in your home is a cash-out refinance. It essentially is a new loan that pays off the existing loan you have (if you have one) and puts the additional money in the increased value of your home in your pocket. Sometimes, depending on your current interest rate, and how long you have had the original loan, the monthly payment could either be the same and sometimes it may even be less than what you are paying right now! Make sure you ask your banker the differences in interest rates, closing costs, and duration of the loan to see what makes the most sense for your scenario.
If you have equity in your home, you more than likely will be able to get a home equity line of credit, sometimes called “HELOC” for short. This usually has minimal closing costs and has a set interest rate for a period of time. It is almost like a credit card, but with a much lower interest rate and doesn’t have to be paid off each month. Many times you will have a set interest rate for 3-5 years.
The Same-As-Cash Loan is a short-term lending solution with no interest required if paid in full within the “same-as-cash” period. EnerBank offers 6-Month, 9-Month, 12-Month, 18-Month, and 24-Month.
The Reduced Interest Loan is a fixed interest rate loan that’s set up for a longer-term. Customers pay back the RIL through easy monthly payments.
The Traditional Installment Loan is a longer-term loan with risk-based interest rates ranging from 8.99%-24.99% APR. It’s designed for customers with a wide range of FICO scores. Customers pay off the loan through equal monthly installments.
The Zero Interest Loan offers equal monthly payments combined with a 0% fixed APR throughout the full term of the loan.
Learn about our Finance Partner
Apply for up to $75,000 through Enerbank!
Enerbank USA is an FDIC-insured, national consumer lender founded in 2001 in Salt Lake City, Utah. Enerbank specializes in offering loans for home improvement projects. Through their streamlined loan approval and application process, they’ve become one of the industries biggest lenders. Their focus on the home improvement industry and proven track record of helping contractors grow their businesses means you can count on Enerbank to deliver quality loan products with a top-notch customer experience. They balance their depth of experience with constant push to innovate.
Start Your Home Improvement
Take the first step towards securing a loan for your home improvement journey. Gain insights into your purchasing power with prequalify approval from Enerbank. No hard inquiry is needed during the process, which means no major hit to your credit score. After your prequalifying approval choose to start your application and apply for your home improvement loan.
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Financing with Enerbank
The focus at EnerBank is on delivering the best home improvement lending products and services. They are a reliable home improvement lender, standing strong and consistently growing — always striving to create an exceptional customer experience. EnerBank knows what it takes to create an exceptional experience in home improvement lending for consumers like you and provides loans up to $65,000.
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Pet-Friendly Remodel Ideas
While we definitely cannot recommend having pets on a jobsite, we absolutely recommend taking your pet into account when planning your remodel. Here are just a few of our favorite pet-friendly remodel ideas:
