And if you want to skip the contractor? There’s a financing option for that, too. Let’s talk EasyPath™ Renovation.

What is EasyPath™ Renovation?

EasyPath is a program that allows you to roll your mortgage and renovation costs together, without having to hire a contractor or make big purchases on your credit card. Designed for home updates completed through major retailers like The Home Depot, Lowe’s, and Menards, EasyPath can be used with conventional renovation mortgages like CHOICERenovation^® and CHOICEReno eXPress^®.

6 perks of taking the EasyPath:

• Loan amount can be based on the projected value of your home after renovations
• Leverage the same interest rate as your home loan instead of your credit card
• Down payments as low as 3% to 5% for purchase transactions
• Purchase and refinance transactions are eligible
• Cardinal makes 100% payment to the retail store to purchase and install the project
• Fixed and adjustable rates available

When is EasyPath the right choice?

Whether or not EasyPath is right for you comes down to your timeline and the scale of your projects. If you’re looking for a faster financing process, EasyPath typically takes less time than working with a contractor. While you save time by eliminating the contractor search and independent quoting process, it also means that larger projects aren’t ideal for EasyPath. The bigger and more complicated the renovation project, the more likely you are to need a specialized contractor to handle it.

The EasyPath process, explained.

With traditional home renovation loans, you have to find a contractor and have your lender verify that they’re qualified for your planned renovations before you do anything else. With EasyPath, you get to skip that part. Here’s how it works:

Step 1: You visit an eligible big box chain store and complete a bid.

Step 2: Next, Cardinal’s Renovation Support Team reviews the bid, consults with the store, and orders an appraisal.

Step 3: Finally, the appraisal is completed based on the projected value of your home after the renovations are finished.

Bonus home renovation loan tips.

If you hadn’t noticed by now, you’ve got a lot of options when it comes to home improvement financing. Whether EasyPath is the right one for you or not, here are some tips to keep in mind before you apply for a home renovation loan.

• Budget for the unexpected
• Get multiple bids to find the best price
• Don’t try to do it all yourself
• Tackle one project at a time

When you’re ready to start your home renovations, we’re here to help finance them.

Want the perks of a home renovation loan without the process of hiring a contractor? EasyPath™ Renovation might be your solution.

The post Home Renovation Loans: 6 Reasons to Take the EasyPath™ appeared first on Cardinal Financial.

In 2020, we all had to get creative with how we used our space. (You know what we’re talking about — Pelotons in our living rooms and Zooms in our master baths). Some homeowners made their houses more livable with renovations during the pandemic, while others made minor upgrades to improve their existing space. Here’s a list of eight trends that homeowners adopted over the past year that can give you some inspiration for your next remodel, DIY project, or even your house hunt!

Refinance

1. Dedicated Home Offices

With offices shut down and so many of us working remotely in 2020, it’s no surprise that more homeowners needed a sacred space to get work done. Some chose to partition off common areas, like living rooms and kitchens. Others permanently set up shop in their guest bedrooms, basements, or bonus spaces so that they could buckle down in peace. Many companies are now embracing the benefits of having employees work from home, so it doesn’t look like this trend is going away anytime soon.

2. Better Kitchen Storage Solutions

They say the kitchen is the heart of the home. With families preparing breakfast, lunch, dinner, and snacks there in 2020, things got a little chaotic. Many homeowners have opted to create better kitchen storage solutions, like built-in appliances, deep pull-out drawers, or a spacious island for seating and food prep. After all, it’s a lot easier to jump on the banana bread bandwagon when you have an organized pantry or substantial counter space.

3. Space for Entertainment

Typical entertainment options like concerts and movie theaters were limited in 2020, so some homeowners figured out ways to bring the fun to them. Home theaters became particularly popular (and not hard to DIY), as did recreational rooms with features like climbing walls and indoor bowling lanes. Hey, if you’ve got the basement space, use it!

Are open floor plans losing their appeal? Some home design experts expect buyers to look for homes with more walls—and fewer shared spaces—in the future.

Purchase

4. Home Gyms

While gyms were closed down or operating at limited capacity in 2020, health became more of a priority than ever. There’s been plenty of demand for in-home fitness equipment over the past year. Many homeowners have renovated a guest bedroom or basement area into a dedicated fitness space. With a little out-of-the-box thinking (say, installing a climbing wall next to the bench press?), some exercise enthusiasts have turned a rarely-used room into a sanctuary to get their sweat on.

5. More Walls, Less Open Concept

Open floor plans have been all the rage in recent years. But many homeowners discovered their spaces felt, well, too open during the pandemic. After all, it can be hard to focus on your video conference when your pets and kids are all up in your business. Creative room partitioning served as a temporary solution during quarantine days. But some home design experts expect buyers to look for homes with more walls—and fewer shared spaces—in the future.

6. Upgraded Outdoor Spaces

With all the time we spent inside our homes in 2020, it was only natural to want to get outside. Creating a comfortable, enjoyable outdoor space has been top of mind for many homeowners. Decks and patios are current popular renovation projects, while buyers focus on finding homes with lots of backyard space.

7. Going Green and Saving Green

Keeping a home energy-efficient is a perk for both the environment and the wallet. Some people invested in “green” initiatives over the past year, like airtight windows, new insulation, or HVAC upgrades. These improvements can help lessen the risk of heated or cooled air leaking outside, resulting in wasted energy and air. Updating the air-conditioning system can also improve a homeowner’s air quality.

8. Spa-like Bathrooms

Believe it or not, the bathroom became a popular escape for many homeowners in 2020. To level up the tranquility, some homeowners invested in soaking tubs, steam showers, built-in Bluetooth speaker systems, and massaging showerheads to create a sanctuary for de-stressing.

Takeaways

Has 2020 changed the way you think about your home space? Whether you’re interested in buying a new home, selling your current one, or upgrading your existing space, these 2020 home trends can add plenty of value.

What were some of the home trends you noticed in 2020? Tell us your thoughts on Facebook or Twitter!

The post 8 home trends from 2020 that are here to stay appeared first on Cardinal Financial.