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Credit Options to Refurnish Your Home

Shot of a man using a laptop and credit card on the sofa at home

As we start a new year, it may be time to refresh your home. Refurnishing is a great way to start off the next chapter in your life and enjoy spending some more time relaxing at home. There are many credit options to help you afford your new home refurnishing project. Take a look.

Store Credit Cards

A popular option when it comes to refurnishing a home is using store credit cards. This purchase option is typically easy to be approved for, and many stores offer their own credit. Once you sign up for a store card, you can reuse that credit as much as you would like in the future. However, it’s crucial to note that store credit cards typically offer higher interest rates. Some will come with a discount on each purchase or a certain number of months without interest.

Lease-Purchase Options

Okinus Credit Solutions in South Pelham, Georgia, offers lease-purchase options for household products. This includes appliances, furniture, air conditioning, and even water heater purchases. This type of purchase solution is very easy and fast to access. You’ll be given flexible repayment options so that you can afford the high-quality merchandise that you want when refurnishing your home.

Home Equity Line of Credit

If you have a large amount of equity in your home, you can tap into those funds. A home equity line of credit can allow you to borrow against the equity that you currently own in your home. With a line of credit, you can borrow up to a specified amount of money, similar to a credit card. You simply pay the line of credit back, and you’re able to reuse it over and over again as you see fit.

Home Equity Loan

Somewhat similar to a home equity line of credit, a home equity loan requires you to have sizable equity in your home. For example, let’s say that you have 40% equity in your home. You can use a home equity loan to borrow against that 40% value to get cash in your pocket. Most home equity loans will allow you to borrow up to 80% of the value of your home. Unlike a line of credit, you’re given a lump sum amount of cash and are expected to pay a fixed rate every month for the term of your loan.

Personal Loan

If you don’t have an overwhelming amount of equity in your home, you may want to opt for a personal loan. This type of purchase solution allows you to borrow a set amount of money at a fixed rate. This means that you’ll receive a lump sum of cash and must pay a set amount of money each month for the entire term of your loan. Most personal loans are given for a term of between three months and five years, depending on the financial lender.

If you’re interested in getting approved for credit to refurnish your home this year, it’s time to contact Okinus Credit Solutions at 844-450-0221 today to get the assistance that you need!