We offer financing through our pre-screened lenders. Many of our clients qualify for financing, with no money down. Ask us about the details.

Tips on Obtaining Financing for your Home Additions/Remodels

  • Start with qualifying for a loan. Talk to at least a couple different lenders about all your financing options. Keep in mind, the lender will  focus on the options they carry. This is why many people will consult an established mortgage broker as they usually carry more types of loans. Besides helping you understand your options and the various trade-offs involved, the lender can pre-qualify you for one or more loans.
  • Many loans involve something called points. Points are a fee for the loan that is expressed as a percentage of the loan amount.  One point equals one percent. So if you take out a loan for $50,000 and the lender charges two points, the fee costs $1,000. Points exist so the lender can pay for the loan set-up expenses, as well as, make a profit. Understanding the concept of interest rates are easier but also require greater diligence in locking down to ensure responsible and easy financing.  Do your research and due diligence to help you get the best rate.

Understanding the Different Home Addition Financing Options:

  • Variable vs. Fixed Interest Rates: Be aware that variable interest rates  were a contributing factor in the housing crisis.  For variable rate loans, the interest rate can rise or fall as market conditions change, which is OK in a interest rate fall but as interest rates are predicted to go higher in future years to fight inflation, variable rate loans interest rates will also go higher. Your best option is a fixed rate loan, the interest rate stays the same throughout the loan.
  • Secured vs. Unsecured Loans: An unsecured loan is a loan in which the borrower agrees to repay the money according to a pre-set schedule. A secured loan is the same thing, except that if the borrower doesn’t keep up with the payments, he/she gives the lender the right to seize a particular asset and sell it to raise the money necessary to pay off the loan—the house itself is the typical collateral.
  • Contractor Home Financing: This is most common with activities like replacing windows, installing siding, or putting in a swimming pool. Eden Builders offers financing using an established relationship with a mortgage lender to expedite the processing of your loan. In such cases, you will still be facing the same array of options you see described in this guide.

Mortgage Lenders

  • Mortgage Brokers: represent a number of money sources including regional and national banks, specialized lenders, insurance companies and even wealthy individuals. This diversity is their greatest strength. It means that they are likely to offer a wide number of options.
  • Banks: are another very popular way to get loans,   this mortgage lender  offers a wide variety of loans, this can be a great way to go.
  • Specialized Lenders: come in all shapes and sizes. These are generally lenders who specialize in one or two specific types of loans. Their strength is that they are very knowledgeable about the financing options they work with and may have streamlined the processing to the point where they can offer very competitive rates.

Eden Builders

21781 Ventura Blvd #609

Woodland Hills CA 91364


(818) 239-4579

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