Handling New Home Expenses
Friday, Sep 15, 2017 10:18 AM

Entering an empty home can feel like looking at a blank canvas. The next phase of your life is about to be filled with new colors and shapes you're ready to experience. Among the surprises waiting for you can be the costs. After we write checks for the down payment, and first month's mortgage, we may need a little help with the rest.

Not to worry.

A personal loan gives you a great head start without having to make huge payments. You can handle new repairs for things like air-conditioning units, electrical wiring, or minor renovations. You have the financial flexibility to decide that a room needs to be repainted, or some shelves set up to accommodate your wardrobe. Instead of moving in your 8-year-old fridge, you have the liberty to decide if it's time for a new one.

You can raise the money you need for all of this, and pay it off in easy to handle installments. At Compare First, we give you lots of options to find the financing plan that's right for you.

The Best Type of Home Financing

Personal loans are the best option. They are easier to get than a credit card, and you can raise more money. With Compare First, you can get pre-qualified in minutes. Simply choose the loan with the best interest rate for you, and installment timetable, and you can get approved fast. Within a week, the money can be in your account, available to transform your living quarters into the home of your dreams.

The advantage of having cash is that vendors of air-conditioners, furniture, and home appliances also have to pay a percentage of what you give them to the credit card companies. If you offer to pay in cash, the amount they save can be part of a discount towards the price, saving them, and you money.

Along with personal loans, you can also take out home improvement loans. You can ask someone with a high credit score to cosign the loan, reducing your monthly installments. You can also use collateral like your home, or liquid assets. But why? An unsecured loan doesn't risk you losing your home, only your credit score is at stake.

If you need more, credit cards are always available. At Compare First, we give you a selection of the credit cards you pre-qualify for and you can choose the easiest one to handle. Credit cards can have tight spending limits, along with additional processing fees. The national average for credit card interest rates is 15% so this is a great plan B to transforming your home into a castle.

Conclusion

Personal loans charge as much as 5% less in interest. The payments are fixed, and less frequently sensitive to interest rates. It's a lot easier to pay down the principal, and gain debt freedom sooner, and more frequently. When unexpected surprises come up like a leaky roof, or finding the perfect painting that would look great in your living room, the best way to get cash quickly and with no explanation necessary is to take out a personal loan. At Compare First, we give you the variety to pick what's best for you.