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Renovation Loansare currently unavailableRenovation loans address the need of homeowners to finance improvements on their home. Prior to the availability of renovation loans, homeowners only had a few alternatives. These were 1) Pay for improvements in cash. 2) Do a cash-out refinance based on the current value of the home. 3) Take out an equity line or loans, again, based on the current value of the home. This still places the burden of funding the improvements on the homeowner. Renovation loans solve this problem. Email with questions on renovation loans.
As a mortgage broker
specializing in renovation loans, I work for my client, taking the time to
understand your situation and placing your remodeling loans with the lender
whose renovation loans match your needs. I currently have access to 22 lenders
offering renovation loans. Renovation Renovation loans allow you an opportunity to refinance your current mortgage or purchase a new home and fund the improvements. Renovation loans are then modified at the completion of the improvements to a permanent loan product. Renovation loans are a variation of the "One Time Close" renovation loans product. The major advantage of renovation loans is that we lend against the finished or "as completed" value of the property rather than the current value of your home as most other lenders do. With other programs, you are out of luck if you do not have enough equity to complete the project.
I have included a list of the documentation needed to process Renovation Loans , a section on Frequently Asked Questions, a section on renovation loans draw schedules, and information on renovation loan fees. They may require the use of a contractor. I have a section on contractor requirements and contracts.
A newsletter giving a detailed description of them available by email. 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. New! View my Wealthbuilder presentation and learn the safe way to manage your debt and fund your retirement. I hope the information on this page was useful to you. Please scroll down to view my Mortgage Market Guide. It is a weekly publication explaining the financial markets from a consumer's perspective that is available on this website or by email subscription. I have nearly 8,000 subscribers today and would be happy to have you as well. Your email address will never be used for any other purpose.
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