SIUSLAW NEWS ❚ SATURDAY, APRIL 16, 2016
3 C
OPB: FINANCING HOME IMPROVEMENTS
ou have the vision, you
have the design.
You’ve selected a con-
tractor and set your goals.
Next step? Turning your
dream home into a reality. If
you’re lucky enough, you may
have enough cash saved up to
cover the expenses. But if
you’re like most of us, you’ll
probably need a little help.
The first thing you will
want to do when looking to
finance a home improvement
is sit down, grab a cup of cof-
fee, and review the project
budget. Once you have a firm
grasp of how much your reno-
vation is going to cost, calcu-
late how much you can afford
to contribute out of pocket,
and how much you will need
to borrow from a financial
institution.
Y
eral other than your home
You will need to be
equity to secure the loan.
comfortable with the
Home Equity Loan —
extra expense of repay-
Commonly used to
ing a home improvement
finance large expenses
loan, which will be a cost
such as home repairs and
that is in addition to your
expansions, a Home
current mortgage pay-
Equity Loan allows you
ment.
to utilize your current
When determining if
Kim Erickson
Mimi Teachout
home equity as collateral
you can comfortably
Oregon Pacific Bank:
in exchange for a single term
repay the financing for your
Construction Loans —
loan to finance your plans.
planned renovation, be sure to
Home Equity Line of
take a look at all the different You may be looking to go
loan options available to you. beyond a simple renovation
Credit — Commonly known
Your mortgage lending officer and build your dream home
as a HELOC, this financing
from the ground up.
should be able to help you
option provides you with a
Home Improvement Loans line of credit from which to
find a program that fits with
— We offer a variety of term
your current life-style and
borrow funds up to a certain
loans that can cover anything
financial situation.
limit, much like a credit card.
from a simple paint job to an
You can find funding for
Like the Home Equity Loan,
all-out remodel. A home
your home equity is used as
your home improvements
improvement loan is based on collateral to secure the line,
through a variety of financial
institutions, but here are a few a variety of qualifying factors but allows for more flexibility
and can use sources of collat- and you only pay interest each
options we offer here at
Goodmans’ Floor Covering
team spans 4 generations
Although Goodmans’
Floor Covering celebrat-
ed its 25th anniversary
last year, the roots of the
business began approxi-
mately 50 years ago and
have spanned four gener-
ations.
Julie Goodman’s dad,
John L. Getz, was a part-
ner of Malibu Carpet
Mills in the 1960s and
1970s.
“I always wanted to be
his secretary when I
grew up,” Julie said.
Wayne began installing
flooring in the 1970s. It
was a natural progres-
sion to open the retail
store in 1990.
Throughout the years
family has always been
involved. Julie’s brother
has been a lead installer
for almost the entire
time.
“Our children and
nephews have worked on
and off in the business.
And, now grandchildren
are often here helping
out,” Julie said. “We
truly have been blessed.”
month on the amount drawn.
Interest on the Home Equity
Loan and Home Equity Line
of Credit may be tax
deductible. Oregon Pacific
Bank suggests you consult
your tax advisor for eligibility.
If you would like to know
more about our mortgage
lending options at Oregon
Pacific Bank, you can visit us
online at http://opbc.com/
personal_mortgageloans.html.
You can also contact our
local lending officers, Kim
Erickson, VP and Manager of
Residential Lending, by
phone: 541-902-9807 and
email: kim.erickson@opbc
.com, or Mimi Teachout,
Residential Loan Officer, by
phone: 541-902-9815 and
email: mimi.teachout@opbc
.com.
HOW TO MAKE SPRING PROJECTS
MORE ECO-FRIENDLY
The arrival of warmer
weather means different
things to different people.
Some anticipate opportu-
nities for outdoor fun,
while others may be con-
sidering redecorating or
remodeling their homes.
For the latter group, home
improvement season pro-
vides a great opportunity
to make homes more eco-
friendly.
When planning home
improvement projects, it’s
best to first choose a proj-
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ect and then look for ways
to make the project more
environmentally friendly.
Such an approach may not
only benefit the environ-
ment, but it also may ben-
efit homeowners’ bottom
lines.
look for products made
from sustainable or organ-
ic fabrics. Hemp and
bamboo textiles have
grown in popularity.
Hemp and bamboo plants
grow quickly, and their
durability makes these
materials smart choices.
When replacing items
Interior decorating
Longer
days
and around the house, donate
warmer
temperatures older items to a charitable
often translate into want- organization.
ing to freshen up the inte-
rior of a home. Heavy Flowers and plants
draperies and comforters
Spring and summer call
are put away, and lighter to mind beautiful bloom-
fabrics are taken out of ing plants. Relying on
storage. Whenever possi- native, sustainable plants
ble, reuse or repurpose is practical, environmen-
items you already have tally friendly and cost-
rather than purchasing effective.
new items.
According
to
the
Longer drapes can be cut National
Wildlife
and hemmed to be used as Federation, sustainable
window treatments in other plants are native plants.
rooms. Making a patch- Native plants sustain local
work blanket out of old T- wildlife more effectively
shirts is a crafty project that than non-native alterna-
makes use of items that tives, so include native
would otherwise be des- plants in your sustainable
tined for landfills.
garden. Native plants also
When
laundering are less reliant on pesti-
linens, skip the energy- cides and herbicides to
using dryer and let items keep them healthy and
line dry in the sun and viable.
fresh air. If you decide to
Don’t forget to bring
purchase some new items, plants indoors as well. Even
Mark & Co.
The Window Company
Your Neighbors Recommend
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Eddie Osorio
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Eugene Office 689-2830
www.markandcowindows.com
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Cell 541-297-0392 • Email: greg@coastpavement.com
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though you may be opening
the windows more, indoor
plants can filter and purify
indoor air.
The NASA Clean Air
Study, led in association
with the Associated
Landscape Contractors of
America, found that cer-
tain common indoor
plants naturally remove
toxic agents such as ben-
zene, formaldehyde and
trichloroethylene from the
air. Efficient air cleaning
is accomplished with at
least one plant per 100
square feet of home or
office space.
Proper disposal
Spring cleaning is
another tradition for many
families come the end of
winter and dawn of
spring. Many people use
spring as a time to go
through closets and
garages to remove items
they no longer use or
need. In an effort to clean
up fast, some people may
dispose of chemical prod-
ucts, paints, treated lum-
ber, and many other items
in ways that can be dam-
aging to the environment.
Always learn local
municipal guidelines for
proper disposal of poten-
tially harmful products.
Area recycling centers
may have drop-off areas
for stains and paints, used
motor oil and other poten-
tially harmful products.
Before
discarding
something, see if it can be
donated or sold. This will
result in fewer items end-
ing up in landfills.
Exercise caution out-
doors as well. Runoff from
cleaning products used on
home siding or driveways
can leach into the sur-
rounding soil or find its
way into sewage drains
that ultimately direct fluids
to public waterways.
Choose environmentally
responsible
products
whenever possible.
Springtime renovation
and cleaning projects pro-
vide the perfect opportu-
nity to adopt eco-friendly
practices that pay divi-
dends for years to come.
—Metro