Owning a home is a great privilege. However, there are also many responsibilities that accompany home ownership as well. You are solely responsible to repair anything and everything that goes wrong with your home — and to foot the bill. If you want to upgrade or remodel your home, you immediately begin to think about how you will finance the facelift. Are you wondering what you need to know about general contractor financing? You’ve come to the right place.
Familiarize Yourself with Common Types of Financing
There are numerous types of financing that contractors offer their clients. There are some methods you are already familiar with, such as cash, credit cards, or home equity loans. Let’s discuss two other types of financing that differ greatly, so you can know which is best: stage funding and non-stage funding.
Stage funding is when lenders release funds in stages to consumers. The first part of a project has to be completed and inspected before funds can be disbursed for the next phase of work. This can be frustrating for contractors and homeowners alike. Any momentum you gain in seeing your dream realized is quickly slowed with this waiting process.
Non-stage funding is the best type of contractor financing to seek. This type of loan is funded in one lump sum. You are able to get the entire amount up front to pay your contractor. Then the contractor is able to begin the transformation process. Their progress will not be delayed with waiting between stages for more money to come in for the labor and products.
Choose Your Contractor Carefully
You don’t want to always just hire the cheapest contractor you find. We all know that cheaper does not always mean better. Satisfied customers will leave reviews about the services a contractor provides. You can read these reviews and scour contractor websites to find all the facts you need to make your decision.
First and foremost, research carefully to find the contractor that provides the type of financing that you want — non-stage funding. Contractors that partner with HFS Financial know that their customers are getting the help they need. HFS Financial works solely with home improvement loans and only connects homeowners with non-stage funding.
Let the Experts Ease Your Mind
HFS Financial has been helping people with their home improvement loan needs for almost 60 years. Our experienced team knows the best ways to connect you with the funds your dreams require. Whether you’re seeking a new pool loan or a bathroom upgrade loan, our staff can help.
We continue to help people realize their dreams. You’ll be able to trust HFS Financial for all your home improvement loan needs.
No Qualms About Qualifying
You now have what you need to know about general contractor financing. In just 60 seconds, you can inquire today about ANY home improvement loan. You can also call one of our knowledgeable staff at 1-800-254-9560. All the questions you have about qualifying will be answered before you know it. With HFS Financial, “You Dream It, We Finance It.”