• Talk to lenders about your options.
• Know that lenders are concerned about income, debts, credit history and property value.
• Select the kind of lender with which you are most comfortable.
• Consider a secured loan when you want to borrow more money, get a lower interest rate or reduce taxes.
• Refinance an existing loan if you have enough equity and if the rates are two points lower now than when you initially borrowed the money.
• Use a home equity line of credit that is secured by your home so that your interest is tax deductible.
• Take out a home equity loan to get fixed rates and payments.
• Consider a homeowner loan that is secured by your property Use a value added loan when the improvement you make will have a substantial impact on the market value of your home.
• Use funds from savings only if you won't break the bank.
• Use credit cards only for small projects that you will be able to pay off quickly.
• Do your research before using contractor financing.
• Make your decision only after doing your homework.

-- Tips courtesy of HomeAdvisor.com