So remember to make funds on time and know what rate of interest you’ll be paying when you can’t keep up. However, private loans is usually a helpful brief-term solution to transforming whenever you don’t have much fairness however the improvements you are planning will increase the value of your home considerably. Though charges for private loans are higher than these of home fairness loans, you don’t risk losing your own home when you default. Roof replacements are also a wise funding, Sterling says.