So how exactly does the repair escrow work? Well that’s a great question! Let’s go thru this step by step. We offer repair escrows with any loan program: FHA, VA, RD, & Conventional. Repair escrows give the buyer the ability to have the work done after closing. Here’s how it works:
Since COVID hit, the housing market has been crazy! With housing in high demand, the competition is getting tough out there. Buyers are looking for alternative ways to buy a home and many have turned to renovation financing. In fact, our renovation volume has tripled so far in 2021. There are a number of reasons for this, but essentially, home renovation loans offer a number of advantages for want-to-be home buyers.
Here are some of the reasons more and more buyers are utilizing these loan programs: