The Thompsons found a great old Victorian house that they loved. They bought it last spring as a "fixer upper" and have enjoyed spending time making renovations themselves. However, after a particularly bad winter in their new home, they had some big problems on their hands. The roof had begun to leak in several places from all of the snow, and their heating bill was very high. They had been putting off getting a new roof and windows because after buying the house, they didn't have money for repairs.

Solution:
Using a Home Works Home Loan, the Thompsons got the money they needed to make home improvements. It requires no equity so they're able to go above their 100% LTV using this unsecured loan. The Thompsons can also take advantage of low monthly payments by stretching their term out over 180 months. The Thompsons could even use up to 25% of the proceeds of the loan for things other than home improvements, and the interest paid on the loan may be tax deductible.*

Even applicants with no equity or a large amount of debt can qualify for a Home Works Home Loan. Now, the Thompson's have the option of doing the work themselves or hiring a contractor to do the work for them.

New Roof	$10,000
New Windows	$5,000
Loan Amount Needed	$15,000
$15,000 Term Loan at 60 month term at 11.49% APR = $329.81 Monthly Payment

* The scenarios shown above are for explanatory and informational purposes only and do not necessarily reflect terms and conditions being offered by Dollar Bank. All loan applications are subject to Bank underwriting and credit standards and specific loan product guidelines. Consult your tax advisor regarding the deductability of interest.