Make it Yours!

Renovation loans allow Borrowers to finance the repairs and the house purchase in one loan. A bedroom addition, a family room extension, an upgraded kitchen , or a bathroom remodel are just a few of the options available with a renovation loan.

Borrower Benefits

Turn an average home into a dream home. Qualified homebuyers can improve less-than-perfect homes in desirable locations immediately without draining their savings. Increase the value through strategic upgrades.

Make the home yours by removing the previous owner’s style. Customize the home to fit your unique style and needs.

Fix things the previous owner may have ignored such as windows, roof repairs, etc…

Get more house for the money. REOs and foreclosures are still a large part of the real estate inventory.

Allows borrowers access to repair funds at lower rates. Enjoy flexible financing options designed for both minor repairs and extensive renovations.

Highlights

1. include repairs, deficiencies, improvements, upgrades, additions

2. home value for mortgage based on “After-Improved-Value”

3. purchase closes on “as-is” condition on contract date

4. less competition on less-than-perfect houses

5. up to 97% (single family) financing

6. 1-4 unit owner occupied

7. single-family investor/2nd home eligible

Renovation loans are great options to consider, especially with limited inventory. With vision and patience, you can make your own dream home and possibly gain equity immediately after renovations. These loans are available for purchase or refinance scenarios. Rates are attractive considering its renovation money, typically associated with hard money lenders and for investors.

Turn your vision into reality. I will provide the support you need every step of the way. Contact me today for more details…

Pauline@indmortgage.com | (508) 525-5415 | https://www.indmortgage.com/renovation/

In the ever-evolving landscape of real estate, finding the perfect home can often feel like searching for a needle in a haystack. For many aspiring homeowners, the ideal property might be just out of reach due to its need for significant repairs or renovations. This is where the concept of a Rehab Loan, offered by knowledgeable mortgage professionals, can truly be a game-changer.

What is a Rehab Loan or FHA 203(k) loan?

A Rehab Loan, formally known as a renovation loan, is a unique financial product designed to facilitate the purchase and rehabilitation of properties in need of significant repairs. These loans are tailored to cover not only the cost of purchasing the property but also the funds required for its renovation. In essence, a Rehab Loan empowers buyers to invest in homes that have great potential but might be overlooked due to their current condition.

How Does it Work?

The process begins with a thorough assessment of the property’s renovation needs. Once the scope of work is defined, our team of experienced mortgage professionals helps you secure a loan that encompasses both the purchase price and the estimated renovation costs. This holistic approach streamlines the financing process, eliminating the need for multiple loans or credit lines.

One of the significant advantages of Rehab Loans is their flexibility. Whether you are looking to update a kitchen, remodel a bathroom, or undertake extensive structural repairs, these loans can be customized to meet your specific renovation requirements.

Benefits of Rehab Loans:

1. Affordability:

Rehab Loans often have competitive interest rates, making them an economical choice for homebuyers looking to invest in property rehabilitation.

2. Increased Property Value:

By addressing the necessary repairs and improvements, you not only enhance your living experience but also significantly increase the market value of your property.

3. Simplified Process:

Working with experienced mortgage professionals simplifies the complex process of acquiring a Rehab Loan. We guide you through every step, ensuring a seamless experience.

4. Personalization:

Rehab Loans may be tailored to your unique renovation needs, allowing you to create a home that reflects your style and preferences.

5. Investment Opportunity:

For those with a keen eye for real estate, Rehab Loans may present an excellent opportunity to invest in undervalued properties, renovate them, and potentially sell them at a higher price.

Imagine walking into a house that was once a diamond in the rough, now transformed into your dream home. With our guidance and the power of Rehab Loans, this dream may become your reality.

Don’t let the challenges of property renovation deter you from the path to homeownership. Contact us today and let us help pave the way for you to unlock the full potential of your future home.