Trench Remodeling & Design - Project Financing Services

Project Financing Services

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DOES YOUR PROJECT NEED FINANCING? WE OFFER FINANCING SERVICES



Residential and Commercial Project Financing Options

As a courtesy to our clients and perspective clients, we have compiled a list of financing options for your new construction, renovation and remodel project. There are over 40,000 resources available for financing or financial assistance (loans and grants) towards labor and equipment. Below is a list of options by category that may offer a solution for your particular situation and financing strategies which may be helpful with the planning process. Please note that some sources apply to specific needs. Also please note that modifications funded for accessibility may require a Justification Statement describing the necessity. This information is for general guidance only:

STRATEGIES

  • Assemble funds from multiple sources
  • Consult with tax experts and lending Professionals
  • Personal or Unsecured Loans, best for medium sized projects $15,000 to $50,000, interest rates may be higher than on home equity


PERSONAL OPTIONS

  • Home Equity Loan (HEL)
  • Home Equity Line of Credit (HELOC) (similar to Home Equity but lender sets a limit, loan term and interest rate based on your credit and home equity)
  • Cash Out Refinance
  • Second Mortgage
  • Reverse Mortgage www.reversemortgage.org
  • CASH - Savings
  • Health Savings Account
  • Private Insurance, can include home modification as part of a rehabilitation program, certain modifications may be covered as a medical necessity, find out maximum allowable amounts
  • Worker’s Compensation, check about preferred providers
  • Insurance Settlement, if disability was a result of an accident in your car, home or workplace
  • 401(k) (quick access at low interest rate, is permitted without penalty or direct taxation as long as the loan is repaid as required, however, penalties may apply)
  • Credit Cards (some offer 0% interest), best for small projects under $15,000 and with a 12 to 18 month timeline
  • Personal Loans (not connected or secured against your mortgage)

  • FHA Title 1 Loans and FHA 203(k) Loans (home equity not required, stellar credit required)
  • Contractor Loan (Trench Remodeling & Design offers
    AMS HomeImprovementLoanPros.com,
    Monday through Friday, 9:00 AM - 6:00 PM, Eastern Standard Time Chat Support and the toll free number is
    (800) 783-6540, ext. 109)
  • Security Backed Lines of Credit
  • Energy Improvement Mortgage (must meet energy efficient standards and prove with an inspection)
  • Income Tax Credits and Rebates (energy efficiency), IRS Publication 502, www.is.gov/pub/irs-pdf/p502.pdf, look under Capital Expense or call
    (800) 829-3676
  • IRS, deductions for a many modifications, accessibility features are considered medical expenses
  • IRS Dependent Care Tax Credit
  • Affordable Housing Programs
  • Disability Mortgage Loans, a comprehensive guide to housing and mortgages for people with disabilities

STATE OPTIONS

Maryland

  • Maryland Housing Rehabilitation Program - Single Family, (410) 514-7530 or (800) 638-7781, singlefamilyhousing@dhcd.state.md.us
  • Local Area Agency on Aging, http://www.eldercare.gov/eldercare.NET/Public/index.aspx
  • State Department on Aging
  • State Housing Finance Agency
  • Department of Public Welfare
  • Centers for Independent Living, (703) 525-3406
  • Weatherization Assistance Programs
  • Vocational Rehabilitation Departments
  • Accessible Homes for Seniors Program, through the Maryland Home Commission (888) 218-5925
  • Local Department of Community Development
  • Office of Home Energy Programs Weatherization Program
  • Maryland Sustainable Communities Rehabilitation Tax Credit
  • State Assistive Technology Projects (AT), http://web.resna.org/resources/funding_sources.dot
  • Maryland Technology Assistance Program (MTAP), http://www.mdtap.org

Maryland City & County Options

  • FHA Title 1 Loans and FHA 203(k) Loans (home equity not required, stellar credit required)
  • Contractor Loan (Trench Remodeling & Design offers AMS www.HomeImprovementLoanPros.com, Monday through Friday, 9:00 AM - 6:00 PM, Eastern Standard Time Chat Support and the toll free number is (800) 783-6540, ext. 109)
  • Security Backed Lines of Credit
  • Energy Improvement Mortgage (must meet energy efficient standards and prove with an inspection)
  • Income Tax Credits and Rebates (energy efficiency), IRS Publication 502, www.is.gov/pub/irs-pdf/p502.pdf, look under Capital Expense or call (800) 829-3676
  • IRS, deductions for a many modifications, accessibility features are considered medical expenses
  • IRS Dependent Care Tax Credit
  • Affordable Housing Programs
  • Disability Mortgage Loans, a comprehensive guide to housing and mortgages for people with disabilities



Virginia

  • Local Area Agency on Aging, http://www.eldercare.gov/eldercare.NET/Public/index.aspx
  • State Department on Aging
  • State Housing Finance Agency
  • Department of Public Welfare
  • Centers for Independent Living, assistance for disabled persons who require home modifications, (703) 525-3406, www.ilru.org/hhtml/publications/directory/index.html
  • Weatherization Assistance Program
  • Vocational Rehabilitation Departments
  • Local Department of Community Development
  • State Assistive Technology Projects (AT), http://web.resna.org/resources/funding_sources.dot

Washington, District of Columbia

  • Local Area Agency on Aging, http://www.eldercare.gov/eldercare.NET/Public/index.aspx
  • State Department on Aging
  • State Housing Finance Agency
  • Department of Public Welfare
  • Centers for Independent Living, (703) 525-3406
  • Weatherization Assistance Program
  • Vocational Rehabilitation Departments
  • Local Department of Community Development
  • State Assistive Technology Projects (AT), http://web.resna.org/resources/funding_sources.dot


FEDERAL OPTIONS

  • Home and Community-Based Medicaid Waiver Programs 1915(c), funds may be available if you receive assistance through a Medicaid waiver program, existing home modification only
  • Medicare Insurance
  • Medicare PART B (Durable medical equipment and devices) and PART C (Advantage)
  • Medicaid, requires a prescription in order to initiate a Prior Authorization Request, (800) 633-4227
  • USDA Rural Housing Repair Loan and Grant Program Section 502, provides loans and grants to homeowners to repair, improve, or modernize their dwellings or to remove health and safety hazards,
    (202) 720-4323
  • US Department of Veterans Affairs (DVA) Home Loan Guaranty Services, Eligible veterans have several possible options for financing home repairs and modifications
  • DVA Specially Adapted Housing Grant (SAH) / Home Adaptation Grant Program (SHA), contact the Paralyzed Veterans of America
    (202) 872-1300

  • DVA Prosthetics Division, responsible for purchase of patient lifts
  • DVA - HCBS, budget for services and supplies (allowance) waivers
  • DVA - Home Improvement Structural Alternatives Grant (HISA)
  • DVA _ Aid and Attendance, House Bound and Other Pensions
  • Rebuilding Together www.rebuildingtogether.org/content/resource/detail/1192/
  • National Resource Center on Supportive Housing & Home Modifications
  • Housing and Urban Development (HUD) - The Community Development Block Grant (CDBG), hud.gov
  • SSI - Plan for Achieving Self-Support (PASS) Program, (800) 772-1213
  • SSI Title XXI Social Security Funds, on state and local level
  • The Accessible Customized Environments Program (ACE), for members with physical disabilities (847) 215-9490
  • The Federal Older Americans Act, administered through state Boards on Aging and/or state and local agencies
  • Fannie Mae Foundation, (312) 368-8801



CHARITIES & COMMUNITY PROJECTS

  • PRIVATE ORGANIZATIONS, i.e. The American Cancer Society, National Multiple Sclerosis Society, National Muscular Dystrophy Association, National United Cerebral Palsy Association

  • PHILANTHROPISTS & FOUNDATIONS, church groups, Elks, Masons, Rotary, Fraternities, Sororities

OTHER PROGRAMS

  • Access Home Modification Program, provides loans up to $10,000 to assist persons with disabilities or who have family members living in the household with disabilities who are purchasing homes and need to make accessibility modifications, no interest, no fees and no repayment until the house is sold

Trench Remodeling & Design is located in Damascus, Maryland. We serve these Maryland Counties: Anne Arundel, Baltimore, Carroll, Charles, Frederick, Howard, Montgomery, and Prince George's. Also serve the Washington, DC area and Northern Virginia.

You don’t have to travel to any special location either. We come to you with our showroom and our samples. We work with you to develop a design that is functional, attractive and in-line with the budget and timeframe you specify. Whether you’re just looking to install new cabinets and flooring, or you have decided you want a complete makeover. We will design the best solution to fit your needs. Call today to schedule your in-home estimate or use our contact form to have us setup a time for your estimate.

We Service These Types Of Projects:

    • Modern Kitchen Designs
    • Drywall Installation
    • New Construction
    • Tile Flooring
    • Ceramic Wall Tiles
    • Interior Painting
    • New Lighting (Example: Recessed)
  • New and Replacement Lighting Fixtures and Switches
  • Accessible Vanities and Toilets
  • Heated Flooring
  • Wall Mounted Flat Screen T.V.’s
  • Energy Saving Toilets
  • New Fireplaces
  • Remote Controlled Blinds


We Help Seniors Stay In Their Homes...

Our focus is on your project at all times, each of our customers get our full attention until their project is completed. When your happy we are finished.

Paul Trench

Our Customers Love Our Work...