http://www.fixedraterefinance.com/home-loans/home-improvement-loans/fixed-rate/ Fixed rate home improvement loans are not the only option. They might not even be the best option for what you want, so consider fixed rate home improvement loans carefully. en-us Sat, 26 Jul 2008 15:00:00 EDT Sat, 26 Jul 2008 15:00:00 EDT Weblog Editor 2.0 Improve improvements... Fixed rate home improvement loans are not your only option - there are also adjustable rate home equity loans that can be used for the same purpose. Depending upon the amount of improvements you are planning to make - and the amount of time you are planning on repaying the loan altogether - an adjustable rate may actually improve your financial savings over the course of your repayment. Adjustable vs. fixed rate home improvement loans The biggest problem with fixed rate home improvement loans is they have a fixed rate - lowering the rates at the bargaining table is more difficult, and the results are less dramatic. With adjustable home loans you can assume greater risk and responsibility and be rewarded for that by initially lower rates that will change over time. So it wouldn't make sense to take out fixed rate home improvement loans that charge 3% more in APR than a comparable 3/1 ARM if you are going to repay those second mortgages in under two years. The financial savings are undeniable, and the impact on your home equity would be the same for either of these home improvement loans. Making the decision When it comes time to make a choice between fixed rate home improvement loans and an adjusting rate, just ask yourself what makes more sense: Why are you taking out a fixed rate home improvement loan? What are the benefits of a fixed rate? If you can save more money off an ARM over these fixed rate home improvement loans, why not do it? Are you going to be keeping your home for a long period of time, or are you thinking of reselling? If you won't enjoy the improvements for that long anyways, why be stuck with high rate, fixed rate home equity loans? Know your needs, then find the lending opportunity that best provides for those needs. Sat, 26 Jul 2008 15:00:00 EDT