Apply Online          

to TMC Lending!
 Your source for consumer information  



FHA Loan


Interest Only Mortgage

Commercial Loans

Real Estate Investor


Loan Modification

Virginia Remodeling Loans  currently unavailable                                                                                                                                        

Remodeling loans address homeowners need to fund improvement to their Virginia home. Before Virginia remodeling loans, homeowners had few options. They 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. This puts the burden of funding the improvements on the homeowner. Virginia remodeling loans solve this problem. Email questions on Virginia remodeling loans.

As a Virginia mortgage broker specialized in Virginia remodeling loans, I work for my client, taking time to appreciate your situation and placing your Virginia remodeling loans with the lender whose remodeling loans match your needs. I have access to 22 lenders offering remodeling loans. Remodeling loans are available as a fixed rate or adjustable. Remodeling loans are a specialized product and most brokers do not have the knowledge to guide you through this complex process. Lenders differentiate remodeling loans based on the interest rate on the loans during the construction phase. I describe them as “One Step” and “Two Step” remodeling loans.

Remodeling loans allow you to refinance your current mortgage or purchase a new Virginia home and fund the improvements. Remodeling loans are modified at the completion of construction to a permanent loan.

Virginia remodeling loans are a variation of the "One Time Close" remodeling product. The advantage of a remodeling loan is that we lend against the finished or "as completed" value of the property rather than the current value of your home as with other loans.

Virginia remodeling loans have two uses:

If you are purchasing a property that would be perfect if it had....... The first disbursement acquires the property and subsequent disbursements occur at predetermined points. After construction, the loan modifies into the permanent loan of choice saving the cost of a second closing.

If you are remodeling an existing property because it would be perfect if it had.... The first disbursement refinances any liens against the property and advances the contractor any up front costs. Subsequent disbursements and modification follow the above process.

  • One Time Close Remodeling Loans 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.

  • One Time Close Remodeling Loans Prime Rate Based. "Two Step" program allows you to borrow up to 95% of your total cost for a Principal Residence. Based on the Prime Rate  during the construction period with interest only collected on funds disbursed.

Under the above programs, you may act as your own General Contractor if the remodeling costs are less than $50,000 and the "footprint" of the home is not changed.

I have included a list of the documentation needed to process your Remodeling Loan , a section on Frequently Asked Questions, a section on remodeling loan draw schedules, and information on remodeling loan fees. They may require the use of a contractor. I have a section on contractor requirements and contracts.

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

We offer the ability to qualify and close 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.


Virginia Remodeling Loans Prequalify for your Virginia Remodeling Loans.  

   Home Equity    Interest Only Mortgage  Investor Loans  Jumbo  Mortgage Links   Reverse Mortgage  No Down Payment Loan   Refinance Center   Site Map  Vacation Home Loans   Commercial Loans  Loan Modification Home




NEVER an Origination Fee!

Extensive consumer information on construction,remodeling, first time homebuyer,and no documentation mortgages.