Renovation Loans Let You Get All Your Projects Done Upfront

Renovation loans are a hot topic! Most borrowers try to figure out how to do as little renovation work in the loan as possible to meet minimal appraisal standards and keep the loan amount down. Some want to save some work for after closing for themselves to do but several renovation loan customers have buyers remorse in that they wish they would have done all of the projects they were thinking about up front so they could have started enjoying them right away or otherwise found later didn’t have the extra cash to do themselves. Use Homestyle, 203k or Va Renovation to build your dream home and to make that dream instantly a reality!

In the new renovation era, most customers are doing more and more preferential work than required repairs. Our advice is to try to get all of the work you are thinking about done up front in one simple transaction. In your bid process, write down all of your “wants” so you can comparison shop an apples-to-apples quote with your contractors.

On average, the consumer will spend between $5,000 and $8,000 in improvements and appliances within the first year of ownership, regardless of loan type. Why take more money out of pocket when you could use this in the entire project and keep more cash on hand and get a tax deduction from your mortgage?

Why buyers want a renovation loan

John and Tu are in North Shore in Jacksonville Florida this week for the renovation minute. They are talking about opportunity for people to be able to find homes with some scratch and dent quality that allows you to win on equity and customization. Most ready to move in homes right now are going quick on the market or highest and best the same week its listed. A renovation property allows you to compete with lower cash offers from investors and has a smaller buyer pool for primary occupants. Besides getting a lower price and perhaps some built in equity on the home the other major benefit to customers is also in making it exactly how they envision it. Call the renovation lending experts to find out how you can transform your ideas into your next home purchase. Buy distressed and save – win on equity and customization.

See Renovation loan product options 

VA Renovation Loan Exists! similar to FHA 203k and Homestyle

Va renovation loans? They are here finally! Join John Adams Tu Mullins and John Meadows as they discuss the details of what Va renovation looks like from the only company that is doing it! Veterans can now use their benefit to purchase and get improvements inside of their mortgage for purchase or for refinance.

Learn more about VA renovation loans