How financing works with a Decor Kitchen & Bath remodel
A remodel is a major purchase, and many homeowners prefer to pay over time. Through our partnership with Synchrony Bank, you can apply for a financing plan that fits your project and your budget. Approval, rates, terms and payment amounts are set by the lender and depend on your credit.
What to expect
- Apply and get a decision. Contact us however is easiest for you: call, email, send the form or stop by the showroom, and we will walk you through the next steps.
- Plans and terms. Plan options and terms are set by Synchrony Bank. Ask us about the options available for your project.
- Subject to credit approval. Not everyone will qualify for every plan.
- Your contract is separate. Your remodeling contract with Decor Kitchen & Bath is in writing, with our MHIC license number, #162278, and payment terms stated clearly.
Planning your budget
Financing works best when you know what the project will cost. Start with a free consultation. We provide a detailed written estimate that shows what drives the price, from kitchen cabinetry to bathroom tile and any additions, so you can decide on scope before you decide on a payment plan.
Questions to ask about any financing offer
Whoever you finance with, read the terms before you accept. These are the questions worth asking, and you should get clear answers in writing from the lender:
- What is the interest rate and the APR? The APR includes fees and shows the real yearly cost.
- Is there a promotional period? Ask whether interest is waived or, in some plans, charged retroactively if the balance is not paid off in time.
- How long is the term, and what is the monthly payment? A lower payment over a longer term usually costs more in total.
- Are there fees? Look for application, origination or late fees.
- Can I pay it off early? Check for prepayment penalties.
- What happens if a payment is late? Understand any penalty rates.
Financing or paying cash: how to think about it
There is no single right answer. Some homeowners prefer to pay cash and avoid interest. Others keep savings in reserve and finance the project, or finance part of it, so a larger scope fits the budget now. The key is to compare the total cost of the plan against what the improvement is worth to you, and to choose a monthly payment you can carry comfortably.
If you are unsure, bring the numbers to your consultation. We can adjust the scope, such as choosing a different cabinet level or phasing a basement project, so the total lands where you want it.
A simple budgeting checklist
- Decide what the remodel needs to accomplish.
- Get a written estimate with the scope itemized.
- Set aside a contingency for surprises, which older homes in particular can have behind walls and floors.
- Decide how much you want to pay up front and how much over time.
- Compare any financing offer using the questions above.
Maryland deposit rule. State law limits a home improvement deposit to one-third of the contract price. Your contract states the payment schedule.
Financing questions
Who provides the financing?
Financing is offered through our partnership with Synchrony Bank.
Do I need good credit?
Approval and terms depend on your credit and the lender’s criteria. Applying will tell you what you qualify for.
Can I finance any type of project?
Financing is available for kitchens, bathrooms, basements and additions, and for most other remodeling projects, subject to credit approval.
Do I need an estimate first?
It helps. Knowing your project cost lets you choose a plan that fits. Start with our free estimate.