Purchase & Renovate Program #realestate #renovate
Posted on January 8th, 2010 by Carlo Capomazza
Do you plan on buying a home that needs improvement? Now you can finance both the purchase and renovations with just one loan!
The Purchase & Renovate program features:
- More money. The amount of money you are permitted to borrow for the purchase and renovations is based on the increased value of the home after improvements are made.
- Lower monthly payments. Your renovation costs are spread throughout the entire term of the loan, so your monthly payments may be lower than other financing options.
- Tax deductibility. The interest on the cost of your improvements, included in your mortgage, may be tax deductible.1
- Speed. Start making improvements immediately after closing. No need to wait to put in that modern kitchen or new roof. And, no need to pass up a house that’s in the ideal location but needs improvement.
- Simplicity. One application, one set of fees and closing costs, one closing to attend and one payment each month
Recommended for people who:
- Are interested in buying a house that will need work, but want to avoid going through the hassle of getting two separate loans.
- Need extra financing to improve newly purchased property.
The Purchase & Renovate loan can give you the funds to purchase a home and renovate it, all in a single loan. Unlike first mortgages with a home equity loan to fund renovations, the amount of money you are permitted to borrow with the Purchase & Renovate loan is based on the home’s value after improvements are made.
Make the renovations you want…now!
Additional Suggested Reading:
Call me at 3108881881 and we’ll walk through the application online and go over your needs to get you ready to pull the trigger on a new home with remodeling opportunities!
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Filed under: Finance, Home Improvement, Mortgage, Remodeling, VRN
