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Renovation Loans Made Simple
Dated: June 8 2021
Did you know that:
Renovation Loans may be one of real estate's best-kept secrets? This type of mortgage financing allows for both the purchase price and the renovation costs to be lumped into a single mortgage payment. It's a great solution for those looking to create their dream home, especially in markets where inventory may be tight.
BENEFITS OF USING A RENOVATION LOAN:
- Ability to personalize a home you love
- Potential for home equity appreciation upon upgrade completion
- No need for a second mortgage or use of high-interest credit cards
- Lending on your home's after improved value up to 110%*
*(based on lower of: Total Cost (sales + renovation) or 110% of "As Completed Appraised Value". Rates, terms and availability of programs are subject to change without notice
To learn how you can finance the cost of renovation into your mortgage and what types of repairs are covered, contact us today!
George and Maribel Medina have been dedicated for the past 30 years to serving their clients with dedication and honesty. They offer all the necessary technology to help their clients make the process....