Advances in HELOC Funding Triggers Expansion of Washington State Kitchen and Bath

Industry: Home & Residential

Erin Belmore's Washington State Kitchen and Bath expand home remodel services due to increase in customers' available financing from HELOC's.

Seattle, Washington (PRUnderground) December 15th, 2015

The national credit bureau, Equifax, reveals that between January and June of 2015, lenders added an estimated 657,000 Home Equity Lines of Credit (“HELOC”) – the highest since 2008. Furthermore, nearly $70 billion was in credit was extended by lenders, also the highest in seven years.

In light of the rebound in real estate lending, more and more homeowners are now taking advantage of their home equity. While some may be inclined to use HELOC funds for luxuries, many homeowners are rolling that money back into investing in their home via remodels and additions.

Erin Belmore, General Contractor of Washington State Kitchen and Bath, believes that taking advantage of home equity to further upgrade one’s residence is a wise maneuver. The idea is simple: apply for a Home Equity Line of Credit (HELOC) and then use the money to remodel or upgrade your house.

“HELOC’s are an excellent opportunity to improve one’s home,” says Erin Belmore. He continues, “Think of having $20,000 in home equity. You can use that amount to upgrade your house. Quite often, a $20,000 improvement to a home can equate to a $40,000 increase in value. It’s a good investment, and homeowners should take advantage before interest rates rise on homes.”

Interest rates are likely to rise soon, said The New York Times, referring to a mortgage report from HSH.com. According to The New York Times, the Fed’s decision to raise the benchmark interest rates could also increase the interest rate on HELOC’s. The challenging part is that nobody knows when the Federal Reserve may make the bump in interest. The best move is to take advantage of increasing a home’s value while financing costs are low.

About Washington State Kitchen and Bath

The increase in available financing to home owners has led Erin Belmore’s Washington State Kitchen and Bath to expand their services to meet demand. Washington State Kitchen and Bath is the go-to company for those planning to upgrade their homes. Comprised of experts committed to work hard, they offer reliable services in home remodeling, additions, and new constructions; fueled with artful design, solid workmanship, and customer satisfaction.

To schedule a free home remodel consultation or to learn more about Washington State Kitchen and Bath’s services visit www.washingtonstatekitchenbath.com or call 1-800-935-5524.

About Washington State Kitchen and Bath

Having been in business since 2003, Washington State Kitchen and Bath provides quality construction services for remodels, additions, restoration and new construction. They specialize in quality, dependable services from design through completion and have helped thousands of customers turn their home remodel dreams into reality.

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