Don’t put your dream home on hold. With Elusive Remodel, you can update, refresh, and reimagine your space today, while paying over time with ease.
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REMODELING FINANCING
Get 100% financing for your renovation projects with no upfront costs.
Prepaid Interest
Understanding Prepaid Interest
Billed annually with property taxes, so there can be a gap between when your project is funded and when your first payment is due. During this time, prepaid interest accrues. This interest is built into your total financed amount, similar to how mortgages handle first payments after closing.
The timing of your project and your county’s tax roll cut-off date will affect how much prepaid interest is added:
- Project funds before cut-off: Less prepaid interest, earlier first payment.
- Project funds after cut-off: More prepaid interest, but the first payment is further out.
Prepaid interest only starts once your project is completed, approved, and your contractor is paid.
First Payment
When do payments start?
Your payments will appear on your property tax bill, based on how you pay property taxes—yearly, twice a year, or monthly through escrow/impound. Depending on your tax cycle, it may take up to 17 months before your first payment appears.
Will my property taxes increase?
Yes. Your payment is added as a separate line item to your property tax bill, so your total due will increase.
If I pay property taxes through escrow/impound
Your lender will adjust your monthly payment if there isn’t enough in your account to cover the added cost. We recommend notifying your lender once financing is approved.
Repayment Options
Option 1: Pay on your tax bill
- Payments follow your property tax schedule (annual, semi-annual, or monthly via escrow).
- The assessment appears as a line item on your tax bill for the agreed term (up to 30 years).
Option 2: Prepay at any time
- Pay down in increments of $2,500, or pay off the balance in full.
- Prepayment shortens repayment time and removes the assessment from your property.
- No penalties, though processing fees may apply.
Hardship Support
Are you having trouble making your payment this year?
If you face temporary financial hardship (job loss, illness, disaster), Elusive Remodel can help with hardship assistance to keep you on track until you recover.
Frequently Asked Questions
Elusive Financing
If this is a government-approved program, why do I have to pay for it?
While financing is state-approved and locally authorized, the actual funds come from private companies—not taxpayer dollars. This makes it possible for homeowners to access financing without government subsidies.
Does this program use taxpayer money?
No. Projects are funded with private capital. Any administrative costs are covered by small program fees, which are included in financing. Local tax offices that help process payments are reimbursed for their costs. Cities and counties don’t bear extra expenses.
Is participation voluntary?
Yes. This financing option is completely voluntary. If you don’t choose to participate, nothing changes with your property taxes.
What about rebates, credits, and incentives?
We encourage you to pursue available federal tax credits, utility rebates, or other incentives. These are handled separately from your financing.
If I live in Florida, will my financed payment qualify for the early property tax discount?
No. Unlike property taxes, financing installments are not reduced with early payment.
Applying
How do I know if financing is available in my area?
Check availability directly on our website by entering your address. If eligible, you can apply right away.
What if I have a question while applying?
Our Customer Care team is available to guide you at every step.
What happens after I submit my application?
Your application will be reviewed, and you’ll be notified of a decision—often the same day if submitted during business hours.
Is there an application fee?
No. Applications are free, and you’re under no obligation to move forward until you choose to.
Why do you need my social security number?
A credit bureau report is requested to confirm eligibility, but FICO scores are not used to determine approval.
What factors could prevent me from qualifying?
Approval may be more difficult if:
- Mortgage payments are not current
- Recent bankruptcy has occurred
- Property taxes are delinquent or frequently late
- There are liens or judgments on the property
- Foreclosure was filed in the last 3 years
Why do I need to verify my income?
Income verification is required to ensure that repayment can be managed comfortably and responsibly.
Can I use my own contractor?
Yes, but your contractor must be registered in our network. If you haven’t selected one, you can choose from our list of approved professionals.
How do contractors get paid?
Contractors are paid directly once you confirm the project has been completed to your satisfaction.
Hardship Assistance
What if I’m having trouble making payments?
If you experience a temporary financial hardship—such as job loss, illness, or a natural disaster—we may be able to help. Temporary hardship assistance is available to ensure you stay on track until you’re back on your feet.
