When you're thinking about remodeling the home that you have here in St. Paul, it is important to know the funding solutions that are out there. Most of us don't have sufficient cash on hand to pay outright for home improvement projects, so that means some sort of financing.

First off, get an idea of what you want to spend.  With many options to go with, preparing for the renovations can be done easier when you know how much of a budget you have to work with.

With renovations costing up towards the $60,000 mark for some, it is important to know what to expect when funding and covering the costs of tackling that special home remodeling project or upgrading your home to have a more modern appeal.

Keep in mind that during the renovation sometimes there are unforeseen costs. Planning for these costs and having more than you need for the project can help you cover all of the expenses.

Bank Loan

Bank loans are generally the first way that people look for money to cover the costs associated with renovations and remodels for their home. They do have strict restrictions and conditions that have to be followed though, so it is important to speak with your bank regarding what is required through them. 

Talk to your banker to get clear on what's available, because there are several types of loans.  You might consider a complete refinance if you can get a lower rate and the value of your home exceeds the anticipated loan amount. Another type of loan is a home equity loan if  you have sufficient equity in your home to pay for the anticipated cost of remodeling. Or you may qualify for a second mortgage.

Contractor Funding

Contractor funding is offered by many Minnesota home remodeling companies. With the contractor backing you, you can feel more secure knowing that they can keep the project within your budget. You will know the payments and have no surprises.


Savings is always a good thing to have and if you can save some cash to cover the revamps in your home. With this cash down, you don’t have to worry about paying for interest or other things. You can cover all of the costs and feel good about doing so when it is paid in full.

Last but not least, check with your local government. Some communities have low-interest (or no interest) loans and even grants for projects that will make a home more energy efficient.  Some utility companies offer this as well.

If you’re looking for durable exterior home improvement solutions and systems, then give us here at Metal Roofing & Siding of Minnesota a call. We have worked with our customers on exploring financing options and can help you find the best solution that works for you.