Local and Flexible Financing Options for Your Dream Home Remodel
Financing Through BACK Construction
At BACK Construction, we understand that remodeling your home is a significant investment. That’s why we’ve partnered with some of the best local banks—Stock Yards Bank, WesBanco, and Traditional Bank—to offer you flexible financing solutions tailored to fit your budget and lifestyle. Whether you’re upgrading your kitchen, adding space, or making your home more energy-efficient, we’ll help you explore the best financing options with competitive rates.
Ready to explore financing options?
Still have questions? Contact us today, and we’ll connect you with one of our local financial partners to start the application process. Let’s make your home remodel a reality!
What’s the Best Way to Finance Your Remodeling Project?
Planning a home remodel? One of the key decisions homeowners face is how to finance the project. Before diving into the exciting parts—like building a wish list and gathering design ideas—you’ll need to ask yourself some important financial questions, including: “What can we realistically afford to invest in our home?”
Every remodeling project is unique, and each client’s financial situation is different. Some clients may have significant equity in their homes, others may have a down payment ready, while some may have great credit but no available down payment. No matter your situation, sitting down with your bank or a financial advisor early on will help you explore the best financing options for your remodel.
Where to Start
The first step is to assess your current financial position:
- How’s your credit?
- What is your home currently worth?
- How much do you owe on your mortgage?
- How much value will your project add to your home?
A lender will use your Loan-to-Value (LTV) ratio to help determine how much you can borrow, as well as your Debt-to-Income (DTI) ratio. These factors, along with others, are important to review with your financial institution to avoid moving forward with plans only to discover you don’t qualify for the type of financing you need.
How Much Will Your Remodeling Project Cost?
Work closely with your remodeler to get a clear picture of the project’s cost. At BACK Construction, each project is assigned both a project developer and an estimator, ensuring thorough inspections and a detailed estimate. While unforeseen issues, like structural surprises, can arise once work begins, we recommend building a small buffer into your budget to cover any unexpected expenses
What Are My Financing Options?
A HELOC allows you to borrow based on your home’s equity, functioning like a high-limit credit card. You only pay interest when you use the funds, and rates are typically adjustable. This option provides flexibility, especially if you want to have funds available for future needs.
A second mortgage with a fixed interest rate, a home equity loan provides a lump sum upfront, which you pay back over 15-30 years. While rates are higher than a standard mortgage, this option offers the advantage of stable, predictable payments.
Refinancing your existing mortgage to include the cost of the remodel consolidates everything into one monthly payment. If your current mortgage rate is low, however, a second mortgage might be a better alternative.
Convenient Financing Options for Lexington, KY, Homeowners
Why Invest in a Project From BACK Construction?
BACK Construction has been serving Lexington and the Central Kentucky area with unparalleled service since 1981. We have done a wide variety of projects over the years, everything from roofing, windows and doors, handyman services, and home remodeling. The design side of our design-build company includes award-winning consultants that always get the job started on the right foot. Our production team then effectively executes the drawn-up plans to leave our valued customers satisfied with their new-look homes.
With our five-year workmanship warranties, affordable financing plans, and overall service, it’s clear that we go above and beyond to give our customers a great experience. That’s why we have proudly and consistently maintained an A+ rating with the Better Business Bureau.
If you’re interested in learning more about the financing plans we offer for homeowners in Lexington, contact BACK Construction today.
Contact Us
Fundings / Loan
We are using a several local banks to direct leads to for funding/loans.
We are using:
Ready to explore your financing options? Contact us today, and we’ll connect you with one of our local financial partners to start the application process. Let’s make your home remodel a reality!
Deborah B.