Make that Fixer-Upper into a Dream Home!
You found "the" home... in the perfect neighborhood, close to work, a fantastic floor plan, beautifully landscaped, BUT... it needs repairs.
Make it Yours!
Renovation loans allow Borrowers to finance the repairs and the house purchase in one loan. A bedroom addition, a family room extension, an upgraded kitchen, or a bathroom remodel are just a few of the options available with a renovation loan.
- Turn an average home into a dream home. Qualified homebuyers can improve less-than-perfect homes in desirable locations immediately without draining their savings.
- Make the home yours by removing the previous owner's style.
- Fix things the previous owner may have ignored such as windows, roof repairs, etc...
- Get more house for the money. REOs and foreclosures are still a large part of the real estate inventory.
- Allows borrowers access the repair funds at lower rates.
Renovation loans are great options to consider, especially with limited inventory, With vision and patience, you can make your own dream home and possibly gain equity imediately after renovations. These loans are available for purchase or refinance scenarios.
Rates are attractive considering its renovation money, typically associated with hard money lenders and for investors.
Contact me today for more details...
- include repairs, deficiencies, improvements, upgrades, additions
- home value for mortgage based on "After-Improved-Value"
- purchase closes on "as-is" condition on contract date
- less competition on less-than-perfect houses
- up to 97% (single family) financing
- 1-4 unit owner occupied
- single-family investor/2nd home eligible