Invest in Your Home:
How Renovation Financing Can Benefit IAFF Members

Your home is one of the most important investments you’ll ever make. Whether you’re planning to stay in your current place for years to come or you’re looking ahead to buying your next residence, there will likely come a time when you want to upgrade, repair, or expand your home.

The good news? With the right renovation loan, you can turn an “almost perfect” home into your dream home—and as an IAFF member, you have access to exclusive home financing benefits from The Money Store.

Renovation Loans 101

A renovation loan is a special type of mortgage that is designed to finance home renovations. With one of these loans, you can refinance and renovate a home you currently own or purchase and renovate your next home. Compared to other financing options such as credit cards, personal loans, and home equity products, renovation loans often offer lower interest rates, higher maximum financing amounts, or longer repayment periods.

Popular Reasons to Renovate

With your experience in fire services, you understand the importance of a safe, reliable, and well-maintained home. Whether you’re looking to improve the comfort, functionality, or value of your property, a renovation project can be a smart investment. Here are some popular reasons homeowners choose to renovate:

• Updating an older home: remodeling a kitchen or bathrooms, upgrading finishes, replacing a roof, or making other décor, maintenance, or lifestyle improvements
• Expanding space: adding a room or garage, finishing a basement, or building an accessory dwelling unit to add space for children, extended family, a home office, etc.
• Making safety upgrades: improving accessibility, security, or mechanical/utility reliability to better protect your home and family
• Improving energy-efficiency: installing high-efficiency HVAC systems, solar panels, a home battery system, or insulation improvements to reduce energy usage
• Buying and upgrading a home: purchasing and renovating a fixer-upper to buy at a lower price and build equity faster

The Renovation Process

Financing a home renovation is simpler than you might think, and our renovation loan experts will guide you from start to finish. Here are the five major steps:

1. Get preapproved: Our IAFF-certified specialists will review your situation and show you what renovation financing options you qualify for.
2. Select your property: Choose a home you currently own or one to purchase using your renovation loan.
3. Plan your renovations: Work with contractors to get estimates, and we’ll help you understand what you can finance.
4. Close your loan: With a renovation loan, there’s just one application, one loan, and one closing, even if you’re buying a home.
5. Renovate: Your contractor gets paid as work progresses, and once your project is complete, your newly renovated home will be ready to enjoy.

Final Thoughts

Your home should work for you and your family. Whether you’re buying a property that needs some TLC or finally tackling the renovations you’ve been planning, a renovation loan gives you the tools to invest in your future. With The Money Store as your IAFF-preferred lender, you get expert advice, competitive rates, and exclusive member benefits.

Don’t let renovation costs or uncertainty about financing hold you back from the home you deserve. Schedule your complimentary consultation with one of our IAFF specialists today. We’re here to help you make the most of your homeownership journey.