The Real Deal on Reno

BUILD A HOUSE FOR MOM AND DAD WITH A RENOVATION LOAN! BUILD A HOUSE FOR MOM AND DAD WITH A RENOVATION LOAN! Get link Facebook Twitter Pinterest Email Other Apps March 14, 2023 Home affordability may be a problem for some Gen X’ers and Millenials but these two generations of homebuyers are often facing an added responsibility; kids returning from coll...

Great info on Multi-Generational Living!

BUILD A HOUSE FOR MOM AND DAD WITH A RENOVATION LOAN! BUILD A HOUSE FOR MOM AND DAD WITH A RENOVATION LOAN! Get link Facebook Twitter Pinterest Email Other Apps March 14, 2023 Home affordability may be a problem for some Gen X’ers and Millenials but these two generations of homebuyers are often facing an added responsibility; kids returning from coll...

Happy Birthday to Dr. Seuss! This quote from the Lorax reminds me of what can happen when you bring vision and expertise to what may look like an overwhelming project.

https://therealdealonreno.blogspot.com/2017/08/where-do-i-find-money-for-home.html

Where Do I Find Money For Home Improvement Costs? Where Do I Find Money For Home Improvement Costs? on March 02, 2023 Get link Facebook Twitter Pinterest Email Other Apps Most homeowners have a long wish list of projects they would love to do: renovate the kitchen, add a deck, change outdated light fixtures, build an addition, update the heating sy...

Adding a swimming pool is a great way to add value and marketability to your home. We always get asked if you can finance this improvement with a renovation loan and YES you can! Let's dive in to our streamlined process for pool additions and you can be soaking up the sun poolside by Memorial Day.

Gut it and Raise it! Homes on the water should be raised to protect it from storms and flooding. While you are at it, why not remodel the inside or put on a new deck? A renovation loan is the perfect solution to elevating and updating a second home. Follow us to watch the transformation of this bayside home.

The demand for multi-generational homes is not slowing down. Research is pointing to an upward trend showing that almost 1 in 5 Americans is now living in a home with two or more adult generations. Builders and developers are responding to this growing and lucrative market with new construction of various styles and amenities in order to accommodate this large segment of buyers.

Paying for the improvements might seem like a challenge, but renovation financing makes it easy and economical. Here are some features that a prospective buyer may find desirable when seeking a home for several generations:

• Full suite or apartment with separate entrance to include updated kitchens and baths
• Open access floor plans offering more space to accommodate wheelchairs or walkers
• Multiple master bedroom suites
• Handicapped accessible (you can even add an elevator!)
• Dual thermostats, Smart lighting, security systems

This is just a glimpse of what can be done with a renovation financing. The possibilities are limitless!

Ready to fall in love with a new home? How about the one you're living in right now? Don't Move, Improve!

Calling all contractors and builders!! Renovation Lending is HOT and often times our favorite contractors are busy!! Drop a contractor's name and contact information below if they are interested in bidding on projects.

Here’s another misconception about renovation loans –" they are only used to rehabilitate distressed properties. " Not true at all. Even if you do not have equity in your house or cash in your bank account, you can make the improvements that you dream about to your home by borrowing based upon what the property will be worth once it’s complete as long as you qualify. Love your location but have outgrown your home? Why not add-a-level and expand your living space? Check out this finished project!

I hear it all the time….”my contractor is 203K certified” or from the contractor…”I have my 203K certification.” You would think we would be jumping for joy because the approval process just got easier, right? Well, maybe. Though it certainly makes things easier to work with a contractor who has previously worked on projects financed with 203K loans; he may have a better understanding of how the progress payments will work, there is no such thing as a 203K Approved Contractor.
Any client who is pursuing a 203K mortgage loan may select any contractor providing the contractor is properly licensed, insured and will work within the disbursement schedule that is established by the financing. He or she must also be willing to complete the documentation and supply the necessary references to satisfy the vetting process. It’s really very simple and is done by the Lender; not by HUD. The process should not take more than a few days and should not delay the approval or closing of the transaction.