Renovation Loans Simplified
1. Purchase a Property or Refinance a Property You Own
2. Homeowners and Investors can use Renovation Loans
3. Add, Remodel, Change, or Repair items in the Property
4. Not just FHA203k products anymore - there are USDA, VA, and Conventional Renovation Loans too! Some Renovation Loan products do not even need a down payment!*When should you consider a Renovation Loan?
*If you love the location of your home, but want some changes
*If you want to fix up your home to sell at a later time
*If you are buying a home that needs repairs that the seller cannot afford to fix (inspection or appraisal repairs)
*If you want to a buy home that is being sold as-is or needs to be updated
*If you need new appliances, want to add a pool, new roof, new kitchen and bathrooms or even add more rooms and space...
The CMG Home Loans Team offers a wide array of renovation loans for all kinds of borrowers: first timers, veterans, rural homes, condos, multi-unit, vacation and 2nd homes and even investors! These types of loans are designed to cover cost of the property along with minor or major repairs in a single mortgage transaction, single loan, single payment, single down payment (if applicable*). Each program has their own distinct advantages. Make sure to speak with Adam to learn about all of your options and which one could work for you.
*VA Renovation and USDA Renovation do not automatically require a down payment.
If you’d like more information on Renovation loans fill out the contact form below. If you’re ready to apply and get preapproved, click “Get Started”!