The weather is warming up and the sun is a lot brighter. Now that your home is recovering from the winter weather, there’s no better time to do a quick inspection, and make plans for home improvements.
While some of these tasks can be expensive, MAX provides you with options to assist you. Borrowing against your home's equity is an easy way to use the investment you've already made to access funds for large expenses, things like renovations, repairs or even college tuition. Whether you're repairing your home's roof or renovating your master bathroom, MAX provides Home Equity Lines of Credit to help you finance your needs.
Inspect Roof Shingles
You may find that some roof shingles were damaged or lost during the winter during your inspection. Shingles that are cracked, buckled or loose should be replaced. Also, look for missing granules. Shingle granule loss occurs on organic-mat or fiberglass-mat asphalt roof shingles.
The loss of this protective coating could be a sign that your roofing is entering the sunset of its life. Do your best to determine the cause and extent of mineral granule loss, and take steps to correct the issue early in the spring. The summer heat could make matters worse if you procrastinate.
Proper drainage around your home can save you thousands of dollars and headaches later in life. Make sure your gutters are still properly installed and snug after the long winter season. Remember that the weight of snow and ice can pull the gutters away from your home. Although snow is rare in our region, the effects can be long-lasting.
Loose or leaky gutters can lead to water around your foundation, possibly draining into your basement or crawl space if available. Make sure all downspouts drain away from the foundation. Also, clear all debris like leaves, pinestraw and dirt. You may find pieces of broken shingles and granule as well. Want to make this task easier next summer? You can invest in gutter shields, which protect your gutters from becoming clogged with debris.
Inspect the Chimney
Did you use your fireplace over the winter? If you have a chimney, make sure you have a certified chimney sweep examine the exterior for signs of damage. You also want to have it cleaned. This task is not only great for your home, it’s also an important safety step.
Inspect Your Options
Home equity lines of credit, also known as HELOCs, can be a smart and simple way to leverage the equity in your home for home improvements or a variety of other uses.
Unlike refinancing your existing mortgage, which gives you a certain amount of money all at once, a HELOC offers you the flexibility of a revolving line of credit. How much money you can access is determined by the current equity you have in your house and your credit history.
Most HELOCs are used for major expenses - such as home updates and repairs, college tuition or large medical bills. HELOCs offer some serious advantages, but they are not without risk.
MAX offers several HELOC options, all with competitive rates and easy-to-understand terms. Learn more about each of MAX’s home equity products and compare their features to find the one that’s right for you.
For qualified borrowers. Certain restrictions apply.
NMLS 410580. Equal Housing Lender.