Purchase Home Improvement Programs!
Benefits to all parties:
Homebuyer:
- Purchase a home, make repairs, upgrades, or remodel all within a single mortgage
- Gain modern amenities and make energy efficient upgrades
- Multiple loan types
Realtor:
- Makes less-than-perfect listings more marketable
- Neighborhood revitalization creates increasing property values within the community
- Increase earning potential
- Earn more listings
Renovation financing is an all in one mortgage with all the fixings contained within a single transaction. It provides borrowers with the money to purchase a home as well as supplemental funding to meet their repair, upgrade, and remodeling needs.
Renovation costs are spread throughout the mortgage term to create opportunities for homebuyers, which can make their vision of a dream home, a reality.
Cumulating efforts between realtors and loan officers can provide homebuyers with a solution to finding the perfect home, in the perfect neighborhood, with the perfect financing, creating a mutually beneficially opportunity for all parties.
FHA 203k Fannie Mae USDA
Home-style
Down Payment Requirement 3.5% 20% 0
Owner Occupied Only Yes No Yes
Licensed Contractors Required Yes Yes Yes
Eligible Improvements Major/Minor Major/Minor Minor
w/few Restrictions w/few Restrictions Repair
