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Welcome to
Carteret Mortgage!
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Virginia Home Improvement Loans
Virginia
Home Improvement Loans are my specialty. Homeowners need
a better way to finance home improvement on their Virginia home. In the past, homeowners wishing to finance
a home
improvement had few alternatives. These were 1) Pay for the home improvement in
cash. 2) Do a cash-out refinance based on the current value. 3) Take out an equity line based
on the current value. This
places the burden of funding the home improvement on the homeowner who will
not be reimbursed for the home improvement until the loan closes. Virginia home
improvement loans solve this problem. E I
am a Virginia home improvement loans mortgage broker and represent 22 of the largest home
improvement lenders in the
market. As a broker, I work for my client and not the home improvement lender, taking the time to
understand your situation and placing your Virginia home improvement loans with the lender whose programs matches your needs. I am give you unbiased
advice and support throughout the process. Home improvement loans are a specialized part of mortgage banking and most brokers do not
have the experience to guide you through this complex process. I have given you basic information
here but please call to discuss your individual project. Construction lenders offer two types of product characterized by how they base
interest rates during the construction phase. I describe these
as “One Step” and “Two Step” The home improvement loans are a variation of the "One Time Close" home improvement loans construction/perm product. The advantage of a home improvement loan is that we lend against the finished or "as completed" value of the property. Home improvement loans have two uses: If you are purchasing a Virginia property that would be perfect if....... The first disbursement of your home improvement loans acquires the property and subsequent disbursements occur at predetermined points in the construction process. After construction, the loan modifies into the permanent loan saving the cost of a second closing. If you are remodeling your Virginia home because it would be perfect if.... The first disbursement of your home improvement loans refinance any liens against the property and advances the contractor any up front costs. Subsequent disbursements and modification follow the above process. Several programs are designed for remodeling:
You may act as your own General Contractor if the costs are less than $50,000 and the "footprint" is not changed. If your project is large or will change the foundation we will require a fixed price contract with a licensed contractor. I have a section on contractor requirements and contracts. We also offer a Home Improvement Second Trust For the documentation needed for your Home Improvement Loans , a section on Frequently Asked Questions, a section on home improvement loans draw schedules, and information on home improvement loans fees NEW! A newsletter giving a detailed description of home improvement loans by email.
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!
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