The Right Financing Can Turn A House Into A Dream Home (NAPSA) — More than 8 million homes are expected to change hands this year. Homebuyers spend an average of seven weeks looking at 10 different properties before making a buying decision, according to the National Association of Realtors. As they search for the perfect property, they may feel that each falls short of their expectations. To help remedy this problem, financial institutions offer home-financing options that enable homeowners to transform their new house into the home of their dreams. By making specific home improvements such as updating the kitchen, adding a bathroom, in- stalling new flooring, building a porch or redoing the landscaping, a not-quite-so-perfect house can become a buyer’s model home. “To simplify the process of improving a new home, consumers should consider financing options that allow for the successful managementof not only the home, but a variety of important expenses,” says Cara Heiden, Division President of National Consumer and Institutional Lending for Wells Fargo Home Mortgage, one of the nation’s leading mortgage lenders. One such product is the Wells Fargo Home Asset Management Account, which enables homeown- ers to finance their homeand conveniently access their home’s equity. This financial tool combines a first home mortgage and a home equity line of credit and requires only a one-time approval for access to the estimated growing equity in the home. “It allows homeownersthe ability to manage their new homelike an asset through quarterly and annual reports, which track the available home equity as the estimated value increases,” says Heiden. “They can also lock in the REMODELING MARKET INDEX The Remodeling Market Index is a measure of the state of the home remodeling industry. A score of more than 50indicates that remodelers view industry conditions such as market demand for remodelingas favorable. 55+ 54. Q3 2004 24 2004 Q1 2005 Q2 2005* *Estimated Figure: Accordingto the National Association of HomeBuilders Economics Group @ prevailing fixed rate on the line of credit balance for a fixed monthly payment during the draw period.” Homeowners may benefit from improvedcash flow with potentially tax-deductible interest paid on the line of credit or a fixed-rate advance. (Homeowners should consult a tax advisor.) That means more funds may be available for those important improvements. Additionally, there is access to available equity by writing convenience checks or using an EquityLine Platinum card. Offering security as well as potential for financial gains, the Home Asset Management Account can provide the resources and means to help Americans create their perfect home. For more information, visit Wells Fargo at www.wellsfargo.com or call 1-800-222-3408 for the nearest neighborhood bankingstore. The Wells Fargo Home Asset Management Account is not available in New York and Texas. Home equity financing is provided by Wells Fargo Consumer Credit Group, a division of Wells Fargo Bank, N.A. Wells Fargo Home Mortgage is a division of Wells Fargo Bank. N.A. Wells Fargo Bank, N.A. is an Equal Housing Lender.
