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Financing a project is sometimes needed, and is best illustrated by a story. I went to a lady’s home that she had just purchased, and it smelled strongly of smoke. During her home inspection, the seller had taken many steps to mask the smell of the smoke. Once she had closed on the home and tried to move in, she realized the extent of the smoke damage that was in the home. To get the home livable she had to spend more money than she had to make it livable. She had to hire a painter to paint every surface in the home with paint that would seal in the smell. She also had to hire us to remove all of the carpet throughout the house, which was holding onto the smells. Without financing she would not have been able to move into her home and enjoy as she is today.
Who could use financing? The number of people who want financing can be numerous and varied. Some people want financing because they have to have it and there’s no other way to finish their flooring project unless they get financing. Others want financing because they don’t want to write one big check they would rather spread it out over 12 months, even though they have the cash in hand right now. These people will love some of our 0% interest financing options. Others want to take advantage of financing because they want to build their credit. Making consistent payments, and then eventually paying off the loan will develop a history of making payments that will rate them higher as a credit borrower.
What is financing? Financing is the process of getting a loan, line of credit, or someone else to pay for something you want or need today. The benefit of financing is you don’t have to have all of the money today to get what you want or need. Many of our customers who choose financing do so because they don’t want to deplete their savings to do a flooring project. They would rather make a monthly payment and maintain their savings account in case of an emergency. Additionally, I have had some people tell me that they took advantage of financing because when they borrowed at 0% interest for 24 months, the best use of their money was to keep it invested in the stock market or they were averaging a higher return than the loan amount they got to pay for the project.
When is financing available? Financing is available at any time. There are many companies and individuals today that would loan you money for your needs and wants. You could talk to family and friends (though they would have to be pretty good friends to loan you money for a flooring project). Can go the traditional route and talk to a bank whose business is to loan money. Often the loan process can take a few days or even weeks to complete the underwriting process. so it is best to get started as soon as you know, you want to proceed with your project. They will likely ask you for proof of income, and bank statements, and they will check your credit score and credit history by contacting the three main credit bureaus.
Where can you find financing? When you start to search for financing, let us know, and we can introduce you to our financing partners. First, we have a 0% interest credit card. We recommend to all of our customers from US Bank. They have been a great 0% interest financing option for us and many of our customers. Second, we would introduce you to a private banker from security Bank, who could help you look at HELOC options if you own your home and have equity you want to use. We have a relationship we are developing where you can apply and get multiple financing options delivered to your email for your convenience to research and select from.
Why do customers choose financing? Many of our customers choose financing because it is the only way to get their project done. If you are in an emergency where water damage has affected your home, waiting to do your flooring is not always an option. Likewise, if you were trying to sell your home, but want to maximize the value you get, financing is a great option for you. Often you don’t have to make a payment for at least 30 days. In this case you can pay us to get your flooring done and then pay it off once the home sells.
One final benefit of financing that I will mention is getting your home done the way you want so you can enjoy it now. In my experience going into hundreds of homes per year I find that people complete projects prior to selling the home because they know they will recoup the money. I talk about this strange phenomenon with many people because it is interesting that they will spend the money right as they are about to leave and they don’t get to enjoy the home. Occasionally I get to work with somebody who takes advantage of financing because their budget only allows for, some things they want to do in their home. These people are able to do the project they have envisioned so they can enjoy it while they are still there. And because they financed it, they are able to pay monthly the cost of the project in small bite-size pieces.
If you are working with on getting your project going and you want to do it but you are worried about the funds, financing would be a great option to help you start your project sooner. Call or text 816-520-0690, which is my personal cell phone and I will help you figure out which financing option is best for you. Once you text me, I will help you fill out the links needed to figure out your options, I will help you analyze the options you do have, and I will answer any questions you have about your flooring project.
Again, if you missed it, you can call or text 816-520-0690 and I will send you the financing links needed to get your project completed. You can also go to flooringbutler.com and you will see a link for our financing partners.