Make An Offer. Then Make It Your Own.

You can picture it—the perfect home. And you know exactly how much you can afford.

There’s just one problem. That ideal home doesn’t exist. And if it does, it’s too expensive, in the wrong location or not for sale.

But we have good news! A renovation loan, makes it possible for you to buy an affordable house or condo and give it a make over. Also known as a Rehabilitation loan, this financing option is essentially a 2-in-1 loan. In addition to the cost of purchasing a home, it also includes approved renovations. Some homebuyers even use a portion of the funds for temporary housing during the remodeling process.
Rehabilitation can be as simple as cosmetic improvements (paint, carpet, etc.) to energy efficiency (new HVAC or improved insulation) to major projects (room addition, kitchen overhaul, etc.). Here are some examples of things you can do:
  • building a second floor
  • remodeling a room or two
  • buying new appliances and cabinets
  • adding a new roof and gutters
  • updating plumbing or electrical systems
  • modifying for accessibility needs
  • making energy efficiency improvements like new doors and windows
  • updating flooring, fixtures and flower beds
  • getting rid of lead-based paint

- May 08, 2018