3 creative ways to finance door replacement with credit

Does looking at cleat dents with grass stains on your front door cause you anxiety? Does that antique car painted on the garage door, now make you feel more neurotic than nostalgic? These could be signs that it's time for door replacement therapy.

Before visiting the home improvement doctor to browse for this close cousin of retail therapy, you should examine your budget. If you don't have an extra few grand in the bank to drop on new doors, well don't despair. There are several, solid ways to finance this home improvement project.

1. Start at the source: "The first place to seek credit if you're purchasing new entry and garage doors is the place where you're buying the doors," says finance writer Dixie Watterson of Evanston, Ill. "With Home Depot's credit card, you can take six months to pay with no interest, if you make on-time monthly payments."
   
   Adds Watterson, "Another option is using one of your regular credit cards, such as Visa or MasterCard, to purchase an entry or garage door. Of course, if you carry the credit for more than a month, you'll pay interest, but you'll get a bonus, if you use a card where you get cash back or mileage credit."
   
   
2. Try an FHA home improvement or HUD home rehabilitation loan: If you lack the credit and the funds for door replacement, taking out a home improvement loan could be another answer. Administered through the Federal Housing Administration (FHA), a Title I loan allows you to borrow up to $25,000 for improvements to a single-family home. These loans are fixed-rate loans and must be made by an approved, Title I lender.
   
   If you live in a fixer-upper and are thinking about purchasing new entry and garage doors, you may want to look into the FHA's 203 (k) program, which is not as well-known. This program allows you to receive a single, long-term, fixed or adjustable-rate loan that covers both the acquisition and rehabilitation of the property you purchase. To obtain this sort of loan, you must use an FHA-approved lending institution.
   
   
3. A home equity line of credit may do the trick : If you are fortunate enough to have positive equity in your home, you may be able to tap into funds available through a home equity line of credit. With this type of credit line, your home serves as the collateral. You can tap into these funds, as needed. The credit line is usually set at 75 to 80 percent of the appraised value of your home, minus the balance of the first mortgage. This type of credit usually carries a variable interest rate; other costs connected with setting up a line of credit may also apply.

Whether you choose to get a loan from the bank or from Lowe's, there are three, additional things to remember: Buy the best new doors you can afford, make sure each comes with a solid warranty, and choose replacement doors that are suitable for both your climate and your home's architecture.