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Renovation Financing

Whether you’re buying a home or your current home needs a makeover, making improvements just got easier. Our renovation loan programs can help you get those much-needed repairs or those nice to have home improvements by financing the costs into your mortgage for one monthly payment.  These programs are also a great way to handle any appraiser required repairs.  We have renovation loan options for both conventional and FHA loan programs.

How does it work?

The basic process is fairly straight forward.  The first step is to identify a property and negotiate a acceptable contract.  Next you will need to get a bid from a licensed contractor for any work you want to do on the home. We then order an appraisal.  The appraisal is done as completed, meaning the appraiser gives us a value based on the completed project.  When the appraisal comes back we button up anything else that needs to happen underwriting wise and then close on the loan.   At closing the seller get’s their money and ownership of the property also changes hands.  The contractor can now go in and get going on the work.  Once all the work is done we reinspect the property, verify everything is done, and then pay the contractor out of the loan proceeds.  It’s really that simple.

To find out more about the benefits of our renovation programs, contact me today!

Program Details

 

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June Lunch and Learn: HUD Homes - Financing & Repair Options

Unlock the Potential of HUD Homes: Financing & Repair Solutions for Real Estate Agents (June 6th)!

Are you looking to expand your inventory and help more clients achieve homeownership? Join us for a special event focused on HUD Homes: Financing and Repair Options! This informative session, designed specifically for real estate agents, will equip you with the knowledge and tools to confidently navigate the world of HUD Homes and empower your clients on their real estate journey.

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