If you are thinking about upgrading your home or purchasing a home that needs some work, we specialize in providing Renovation Loans that work wonderfully for these situations. We have contractors that we work with, on our timeline, allowing for a 30 to 35-day process to closing. Typically, you can finance all the improvements because the loan allows for us to lend based on an “as completed” Appraisal. In other words, the appraiser will take into consideration all the improvements you are making, when coming up with a value.
Unlike using a home equity line of credit to pay for a kitchen or bathroom remodel you’ve been meaning to do, these are fixed rate conventional loans, so you don’t have to worry about your interest rate or payment going up. If you are looking to purchase an existing home, getting Certified first provides you with a powerful combination; a super strong approval and the ability to still close within 35 days with a renovation loan. If you would like to learn more about how this might work for your specific situation, we encourage you to call.
Remember, we are also Licensed in Florida and South Carolina if you are looking at property there!!
Happy House Hunting!!!