Today and I wanted to talk about the home renovation program, which helps homeowners finance improvements, repairs, and upgrades into their mortgage so they don’t have to pay for these things out of pocket.
For this loan, you can finance up to 95% of the cost of the house and the improvements, or the total improved value (whichever is less). This can also apply to refinance customers, who can refinance their current mortgage plus the cost of the improvements for up to 95% of the improved value.
If you’re in the market to buy but you just can’t seem to find the perfect house in the perfect location, this loan program is perfect. Start with the perfect location, and you can use this program to buy a fixer-upper to turn into your perfect home.
If you already own a home and are dreaming of repairs, you can still take advantage of this program, depending on the equity you have in your home.
This program allows for all kinds of renovations. The only requirement is that the upgrades are affixed to the home and that they increase its value. This could mean a kitchen remodel, new fixtures, or even a pool.
If you have questions about this program, please feel free to give me a call or send me an email today. I’d love to hear from you.