Remodel Loan

• Add Value to Your Existing Home – Use the after-completion value for loan qualification purposes.
• Owner Builders Welcome – Projects can be do-it-yourself / owner builder.
• One-time close – Pay off your existing mortgages and combine into one loan with construction costs.
• 0% Down – Depending on the equity position after improvements and length of residency.
• Interest Only Payments During Construction

Have you made the decision to stay in your current home but need some extra room or updates?  Have you found the perfect fixer upper to buy?  If you have a remodel project, which significantly increases the property value of a home, then a remodel loan is what you need.

A remodel loan is essentially a construction loan, and comes with all of the same benefits.  The main benefit of a remodel loan vs. a home equity line of credit is the ability to use the after value of the property for loan qualification purposes.

Remodel loans of this nature require the expertise of a qualified construction loan officer to complete an analysis of your proposed project to ensure the improvements won’t exceed the value of your renovated home.