Kitchen Remodel Financing

How to Finance a Kitchen Remodel in Orlando, Florida

Are you dreaming of a beautiful, functional, and modern kitchen space? If you’re ready to transform your kitchen into a culinary haven, you’re not alone. A kitchen remodel can significantly enhance the aesthetics and functionality of your home, but it often comes with a price tag.

Kitchen Remodeling Financing Orlando

How can you pay for your dream kitchen without breaking the bank? Here are some of the most popular options: 

Personal loan

A personal loan is a type of unsecured loan that you can use for any purpose, including home improvement. Personal loans typically have fixed interest rates and monthly payments, which can make them easy to budget for.

Personal loans are best for:

• Smaller or medium-sized projects that you can pay off in a few years.
• Borrowers with good or excellent credit who can qualify for low-interest rates.
• Borrowers who don’t have enough equity in their home or don’t want to use it.

Home equity loan or line of credit (HELOC)

A home equity loan or HELOC is a type of loan that uses the equity in your home as collateral. This means that if you default on the loan, you could lose your home. However, HELOCs typically have lower interest rates than personal loans.

Home equity loan or HELOC is best for:

• Medium or large projects that require ongoing or flexible funding.
• Borrowers who have a stable income and can manage two mortgage payments.
• Borrowers who have at least 15% equity in their home and can qualify for low interest rates. 

Cash-out refinance

A cash-out refinance is a type of mortgage that allows you to borrow money against the equity in your home. You can then use this money to finance your kitchen remodel. Cash-out refinances typically have lower interest rates than personal loans or HELOCs, but they also come with closing costs.

Cash-out refinance is best for:

• Large or expensive projects that add significant value to your home.
• Borrowers who can lower their mortgage rate or shorten their loan term by refinancing.
• Borrowers who have at least 20% equity in their home and can afford the closing costs.

Credit cards

If you have good credit, you may be able to finance your kitchen remodel with a credit card. However, credit card interest rates are typically much higher than other types of loans. So it’s important to make sure you can pay off your balance promptly.

Credit cards are best for:

• Minor or cosmetic projects that cost a few thousand dollars or less.
• Borrowers who can pay off their balance in full before the promotional period ends.
• Borrowers who have good or excellent credit and can qualify for 0% intro APR offers.

Government assistance

There are a few government programs that can help you finance a kitchen remodel. For example, the USDA Rural Development offers loans and grants to homeowners in rural areas. The U.S. Department of Housing and Urban Development (HUD) offers the 203(k) loan program, which allows you to borrow money to finance both repairs and improvements to your home.

Explore Innovative Kitchen Remodel Financing Alternatives with I4 Kitchen Bath

In addition to these traditional financing options, I4 Kitchen Bath also offers financing alternatives that start at affordable monthly payments. I4 Kitchen & Bath offers affordable financing alternatives with flexible monthly payment options.

Financing Option With Regions / EnerBank

12-Month Loan

*Credit and loans provided by Regions Bank d/b/a EnerBank USA, Member FDIC, (650 S Main St, Suite 1000, Salt Lake City, UT 84101) on approved credit, for a limited time. 19.99% fixed APR (provided however, APR will not exceed 15.99% for residents of New Jersey and 17.99% for residents of Florida and Wisconsin), effective as of June 2024, subject to change. Minimum loan amounts apply. Interest starts accruing when funds are disbursed. Interest waived if repaid in 365 days from first disbursement. When open line period ends, the balance becomes a fixed rate installment loan; repayment terms vary from 24 to 132 months. Actual loan term may be shorter if less than the full approved amount of credit is used. First monthly loan payment due 365 days after first disbursement. If no payments made during same-as-cash period and APR of 19.99%, monthly payments vary from $21.99 to $30.82 per $1,000 borrowed depending on term. The minimum monthly payment will be no less than $50.00.

7-Yr Loan

*Credit and loans provided by Regions Bank d/b/a EnerBank USA, Member FDIC, (650 S Main St, Suite 1000, Salt Lake City, UT 84101) on approved credit, for a limited time. 9.99% fixed APR, subject to change. Minimum loan amounts apply. Interest starts accruing when funds are disbursed. Open line period payments due 90 days after origination and monthly thereafter during open line period. When open line period ends, the balance becomes a fixed rate installment loan; repayment term is 84 months. Actual loan term may be shorter if less than the full approved amount of credit is used. First monthly loan payment due 30 days from the end of the open line period. 84 monthly payments of $16.95 per $1,000 borrowed. The minimum monthly payment will be no less than $50.00.

To apply, call 888-364-0778.

Financing Option with Hearth

Get personalized monthly payment options through Hearth. Their 60-second pre-qualification process does not affect your credit score. See Rates

Kitchen Remodel Near You

As you can see, there are many ways to finance a kitchen remodel, depending on your budget, credit, equity, and goals. Before you choose one option over another, make sure to compare the pros and cons, the interest rates and fees, and the repayment terms of each option.

Your dream kitchen is within reach, thanks to the comprehensive financing alternatives provided by I-4 Kitchen Bath. As seasoned professionals with expertise in architecture, tradesmanship, and general contracting, we’re not just about creating beautiful spaces – we’re committed to empowering you to enhance your home and your life. We serve Orlando and Central Florida with quality workmanship and customer satisfaction. Call us at (407) 246-0636 or contact us today to schedule a consultation for your next kitchen remodeling project.