Publish Date
August 4, 2020
Jesse Coody

Jesse Coody

Jesse Coody is a native Houstonian who installed his first roof at age thirteen. Ever since, he’s had a passion for construction. He holds over 20 years of project management and sales experience in residential and commercial construction. He graduated from SFA in 1998 with a degree in business, then he went on to manage and facilitate large-scale commercial projects, working on high profile projects, such as Alief High School, ABC Pest Control, and Goodwill. From there, he transitioned back to the Residential sector, preferring the client interaction and the project personality involved. He’s great at building relationships and solving problems. Jesse joined Hestia as a Renovation Specialist in 2017. Jesse loves to be outdoors and spends his free time fishing, camping, hunting, or at the beach. He also enjoys reading and being with his family and friends.


At some point, nearly every homeowner will be struck with the urge to have a remodeling contractor come in and make a space more personal, functional, or both. The reality is that renovations can be costly, and the overwhelming majority of individuals cannot afford them out of pocket. Fortunately, there are various types of financing for a home renovation. The question is, should you take advantage of one?


If you are considering a home remodeling Austin project, know that you have options. Finding the right loan is just as challenging as house hunting itself. However, if you take time to weigh the pros and cons of each option carefully, you can have peace of mind that the route you choose is the right one for your unique situation.

Financing Options for Home Remodeling Austin

Home Equity Lines of Credit vs. Home Equity Loans

A HELOC and home equity loan are common options for homeowners who have significant equity in their homes or who intend to use the loan to make improvements that will increase the home’s value. To take advantage of either option, you should have at least 20% equity in your home after the bank processes the loan. Most lenders will not approve a HELOC or home equity loan if the loan brings the balance of the borrower’s mortgage loans up to 100%.

There are both advantages and disadvantages to either type of loan. Both typically come with lower rates than those associated with personal loans, and the interest is usually tax-deductible. However, the life of these loans is generally very long, between five and 20 years. A low-rate HELOC may end up costing you more over the life of the loan than a shorter-termed but higher-interest personal loan.

The biggest risk, however, comes if you default. If you default on a HELOC or home equity loan, the bank may foreclose on your home. For this reason, many homeowners find that using either option to finance an Austin remodeling project is not worth the risk.

Credit Cards

If you can pay off the debt you accrued on your kitchen remodeling project within the next year or two, and if you can get a card with a 0% introductory rate, going the credit card route may be a good idea. However, if you don’t think you can pay off the balance before the initial rate expires, you may want to reconsider, as you’ll have to pay interest on the remaining balance.

You should, however, see if the contractor you plan to work with offers cash deals. Many contractors do, and going the “cash” (cash you receive from a HELOC, personal loan, etc.) route may be best for you. If you don’t qualify for low or no interest rates, you should also reconsider your decision to use credit. You may find yourself paying significantly more on interest than with a personal or home equity loan.

Financing Options for Home Remodeling Austin

Personal Loan

There are many types of personal loans with a vast range of interest rates. People with good credit may be able to secure a loan with a rate as low as 2.49%. However, individuals with bad credit may see rates as high as 36%. If you can secure a low rate, using a personal loan could make financing your home remodeling Austin project fairly easy.

Personal loans can be secured and unsecured. To get an unsecured loan, you may have to pay more in interest. However, many homeowners find this favorable to putting their home up as collateral. Most personal loans come with fixed terms of between one and seven years.

AFFORDABLE PAYMENT PLANS for a home renovation loan

At Hestia Construction & Design, we believe in providing value to our clients, and value does come at a price. To ensure homeowners can access the best home remodeling loans, we offer affordable payment plans of up to $100,000. For borrowers, you don’t have to make payments for the first three months, there is no interest for the first three months, and payments will not begin until the completion of the project. If you are interested in financing your remodeling project with us, learn more on our financing page. If you’d like to speak further about your financing options, please contact us today.

Is it a Good Idea To Finance Your Austin Remodeling Project With a Loan? | Hestia Construction & Design — Houston, Texas

Client Testimonials

“Really happy with all the work done. Kitchen looks wonderful great project manager in Will, kept me informed all the way through and dealt with any issue that I had.
Shona Cameron

“The experience with Hestia and all the folks who worked on our project was very positive. Of course, as with any construction project, there will be frustrations. The key to a good vendor is not that ….”
Kelvyn Stirk

“We could not be more pleased with the Hestia’s work on our bathroom remodel. The work was excellent and the job was finished in a timely manner,no unexpected delays. Most outstanding was the ease of ….”
Nancy Sheiman

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Ste 202
Houston, TX 77079

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