Home Improvement Loans
Home improvement loans are designed for individuals who wish to make improvements to their current home. Home improvement loans are a combination refinance and home improvement loan. Any existing loans are paid off and the balance of the home improvement loans proceeds are disbursed in draws as the home improvement is completed. The LTV is determined by using the "As Completed" value of the property. During construction, you make interest only payments on the amount disbursed. Once the home improvement is completed, you begin making your payments based on your permanent mortgage. Email home improvement loans questions
Home Improvement Loans Description and Guidelines
I have included a list of the documentation needed to process your home improvement loan , a section on Home Improvement Frequently Asked Questions and common misconceptions, a section on home improvement loan draw schedules, and information on construction loan fees .
NEW! A newsletter giving a detailed description of home improvement programs available by email.
These loans are complex. I have attempted to give you basic information, but it is almost impossible to answer all questions here. Please call or send me an email with the specifics of your situation.
We offer the ability to qualify and close your loan into several unique programs for borrowers with non traditional income or asset situations. Please visit my No Docs page.
One of the questions I frequently get from my clients is about finding a qualified and reliable contractor. After a great deal of research, I do recommend Reliable Remodeler. I have personally used their free service and was very pleased with the outcome. Please complete their contractor referral form for up to 4 local pre screened contractors.
As a Certified Mortgage Planning Specialist, I offer an analysis of your situation today can make suggestions on how small changes in how your debt is structured today can have a life changing effect in the years to come. Read more about this free, no obligation service.
Prequalify for your Home Improvement Loan.