By Daniel Becerril, Executive Branch Manager, NMLS #2388968 · Updated October 21, 2026
Projects come in stages
Renovations rarely need all the money on day one. Contractors are paid in draws, and surprises happen. A line of credit lets you draw as invoices arrive.
Plan the budget
Get written bids, add a contingency, and decide what you'll pay in cash vs. from the line.
Value and equity
Improvements may or may not raise your home's value dollar for dollar. Base decisions on your current equity, not the hoped-for after-repair value.
Taxes
Interest deductibility depends on how the funds are used and your situation. Ask a tax professional.
Next step
Check your equity and request options.
General information only, not an offer, a commitment to lend, or tax or legal advice. Programs, guidelines and terms vary and change.
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