Why Wait to Turn Your House into a Dream Home?
You see the house you've always wanted. The 'bones' are great. But it just needs a little work to turn it into something special.
Or maybe your current home requires a little TLC to once again make it the house you fell in love with. Perhaps it just needs a master suite, finished basement or in-ground pool and landscaping to take it to the next level.
Now, there's no need to wait. Turn your house into your dream home with a renovation loan from Team Montani.
What Is a Renovation Loan?A renovation loan lets you finance the improvements to your house in one transaction, whether you're buying or refinancing a home. Let's say you love a particular house, but it's desperately in need of an updated kitchen or additional bathroom. The property might even be ideally located, but simply too small for your needs unless you add a second level.
Rather than dealing with the double paperwork and hassles of both a mortgage and a home equity loan, a renovation loan lets you achieve your purchase and remodeling goals in a single transaction.
And because the amount you can borrow is based on the value of the property with the improvements included, you'll have more cash available upfront.
How Does a Renovation Loan Help You?There are many benefits to a renovation loan over more traditional financing methods:
Convenience
- One loan, one application, one payment
- Start making improvements as soon as you close
- Available for purchases and refinancing
- One low rate with a single loan and a single closing
- Tax-deductible interest
- Low down payment and flexible credit guidelines
- Buy the house in the right location - no matter if it's a fixer-upper
- Give your current home the TLC it needs
- Add the luxuries you've always wanted
- Expand your current home as your family grows...without having
to move
A renovation loan even allows you to purchase a property that might not qualify for traditional financing due to minor damage. This unique type of financing opens doors to expanded options you might never have thought possible.
What Kinds of Things Can You Do with a Renovation Loan?Any improvements you can imagine are possible with a renovation loan. You can:
- Add a room or an entire level
- Install hardwood floors and carpeting throughout the house
- Update a kitchen or bathroom
- Create a master suite
- Replace the roof or add siding
- Install a deck or patio
- Add a pool or hot tub
- Re-landscape your entire property
- Make your home handicapped-accessible
Any one of these changes can add immeasurable enjoyment to your life as well as the value of your property. Keep in mind that the minimum improvement amount is $5,000.
How Do You Get a Renovation Loan?Contact Team Montani today so we can talk about your options. Contact us or call 732-559-0400 or Toll Free: 877-969-7000 to start the application process.
