Apply Online          

Welcome
to TMC Lending!
 Your source for consumer information  

 

FHA Loan

Construction/Perm

Interest Only Mortgage


Commercial Loans

   
Real Estate Investor


Refinance


Loan Modification

Remodeling

The remodeling loan program is designed for individuals who wish to remodel their current home. The remodeling loan is a combination refinance and remodeling loan. At the initial closing any existing liens are paid off and the balance of the remodeling loan proceeds are disbursed in draws as the improvements are completed. The LTV is determined by using the "As Completed" appraised value of the property. During this construction phase, you will be making interest only payments on the amount disbursed. Once the improvements are completed, a modification agreement will be exercised and you begin making your PITI payments based on your permanent mortgage financing terms. Please email with remodeling loan questions

• One Time Close Remodeling Loan Single Rate. "One Step" program which protects you against increasing rates and extended lock fees. Interest only fixed rate during construction and modifies into a permanent loan after construction. Great flexibility and low rates on ARMs.

• One Time Close Remodeling Loan Prime Rate Based. "Two Step" program allows you to borrow up to 95% of your total cost for a Principal Residence and up to 90% on a Vacation Home. Based on the Prime Rate  during the construction period with interest only collected on funds disbursed. Allows a 12 month construction phase. 

I have included a list of the documentation needed to process your remodeling loan , a section on Frequently Asked Questions and common misconceptions, a section on remodeling loan draw schedules, and information on remodeling loan fees .

NEW! A newsletter giving a detailed description of remodeling programs available by email.

We offer the ability to qualify and close your remodeling loan into several unique programs for borrowers with non traditional income or asset situations. Please visit my No Docs page.

Learn more about investing

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.