Have you decided to improve and make your home more cozy? If you do not intend to carry out more extensive construction work, a loan for household equipment, sometimes referred to as a home loan, is intended for you. Thanks to the loan for the furnishings you will be able to buy:
- Kitchen and appliances
- New furniture for living room or nursery
- Bedroom equipment
- Consumer electronics etc.
For this type of loan it is necessary to prove to the bank that you have used the borrowed money for housing. All you have to do is keep all receipts and invoices related to the loan. More details are usually found when negotiating a loan, or. from the concluded contract.
Sometimes banks allow to use part of the loan, eg 20% of the total amount, at whatever the client chooses. However, it is worth informing in advance about this possibility.
Loan for the reconstruction of the apartment
If the changes to your housing include more radical construction work, you can safely consider a loan for reconstruction. So it is possible to fulfill your long-term dream and finally to do:
- New bathroom or kitchen
- Window replacement
- Reconstruction of sanitary units, etc.
Even with this loan, you will again have to prove to the bank that you have used the provided funds to renovate your home. Usually it is sufficient to prove it by means of receipts and invoices from suppliers. You will be rewarded with a more favorable interest rate than a regular consumer loan.
So if you are going to improve your home, so to speak “from the floor” and you have not saved enough money, there are three options:
Compared to other types of loans, it offers the lowest interest rate and can be used to raise millions. It is probably the most advantageous type of loan for extensive housing reconstruction. The basic condition is that you secure the amount provided with real estate – usually the one you intend to reconstruct. But it can also be your other property if it sufficiently covers the intended amount of money.
Building savings loan
It is also one of the more advantageous loans and is suitable for smaller renovations, eg:
- Reconstruction of sanitary units
- Repair of the roof
- Construction of garages, etc.
Ordinary consumer credit
The most flexible option of financing a dream home is a classic consumer loan for anything. This loan does not need to be accompanied by receipts or invoices for construction work. You can use the loan for both reconstruction and furnishing of your dream housing. With us you can quickly borrow up to 800 000 USD.
Whichever method of financing you choose, as with any loan, it is wise to calculate everything first, consider different offers and finally choose the one that suits you best.