BELLEVUE, Washington – (BUSINESS WIRE) – Jul 20, 2021–
Financing home renovations has become easier and much more profitable. Plunk, the first mobile app to use AI and machine learning to help homeowners make smarter decisions about their biggest and most important investment, today announced its new Home Renovation Loan, Designed specifically to finance major renovations.
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With the Home Renovation Loan, a homeowner looking to upgrade their kitchen would save $ 200 to over $ 1,000 per month, while potentially increasing the value of their home. (Photo: Business Wire)
Plunk’s home improvement loan offers homeowners:
- Greater borrowing power – up to 75% of their home’s estimated value after renovation
- A significantly better rate 1 than that offered on credit cards, retail cards and unsecured personal loans
- The fastest and easiest loan process, completely digital, no paperwork and no assessment
- Financing in 10 days or less
Plunk is offering this new homeowner loan program in partnership with Portage Bank, a financial institution known for its history of trust in community lending. The partnership comes at a time when the middle aged at home in the United States is 46 years old and the the housing market struggles to meet demand. The number of new homes built has been cut in half from the previous decade, leaving many homes behind for upgrades.
“Our goal is to empower owners, first with accurate and reliable advice and now with access to better financial products,” said Co-founder and president of PlunkDavid Bluhm. “Our home improvement loan is fully fueled by Plunk’s advanced analytics. It saves homeowners time, stress and money; it is pure rocket fuel for home improvement.
For example, an owner who seeks to modernize their kitchen with a $ 50,000 home improvement project, they would save $ 200 to over $ 1,000 1 per month compared to using a personal loan or credit card, while potentially adding a lot more to the value of their home.
“Helping homeowners transform their current home into the home of their dreams is a new initiative we’re very excited about, and it’s very much in our DNA,” said Matthew F. Moran, President and Chief Executive Officer of Banque Portage. “We have over a century of experience providing personal banking products that help our clients manage their futures worry-free. “
The home improvement loan is now available in the greater Seattle area. To find out more or to apply for a loan, visit https://go.getplunk.com/remodel.
Plunk is the first mobile app using AI and machine learning to help you make the best financial decisions and increase the value of your home. Get real-time, data-driven insight and personalized recommendations on the best ways to improve your home, project by project. Plunk also offers a new home renovation loan, which makes financing major renovation projects easier, faster and smarter. For more information visit https://www.getplunk.com/.
About Banque Portage
Portage Bank is a trusted community lender with world class customer service. At Portage, you have direct access to the decision makers who prioritize you and your needs over algorithms and policies. Portage takes advantage of new technologies and innovations to make your banking experience simpler, more efficient and more personal. For more information, see www.portage.bank.
1 – Comparison of the installment amounts of the Plunk home improvement loan at a fixed rate of 5% on a loan of $ 50,000 amortized over 25 years compared to the average credit card rate of 18.24% (and up to 32% by WalletHub, May 2021) or at the average rate of personal loans at 11.84% by discount rate (July 2021).
View source version on businesswire.com:https://www.businesswire.com/news/home/20210720005272/en/
CONTACT: RP FLIGHT
KEYWORD: UNITED STATES NORTH AMERICA WASHINGTON
INDUSTRY KEYWORD: MOBILE / WIRELESS TECHNOLOGY CONSTRUCTION & REAL ESTATE BANKING PROFESSIONAL SERVICES SOFTWARE INTERNET RESIDENTIAL BUILDING & REAL ESTATE
Copyright Business Wire 2021.
PUB: 07/20/2021 11:28 a.m. / DISC: 07/20/2021 11:28 a.m.
Copyright Business Wire 2021.