Why Use a Renovation Loan to Grow your Business?
Cash at Closing to Your Buyers with FHA 203K
These extra funds can make the difference in a buyer purchasing a property now or waiting to buy in the future: Add to your Income Now.
Sell housing stock based on the Future Value of the home & the monthly payment:
We lend on the “As Completed” value, not the contract price which may be below market due to the condition of the propertyFuture Value means instant equity for the buyer by doing the repairs now
Take “old dated dump” listings & go after expired listings by adding comments on rolling in cost of repairs into the loan with as little 3.50% down on 1 to4 unit properties
Sellers & Buyers know little about renovation loans and many Realtors do not either but I can show you how to use them to grow your business
Ever take a Buyer to see a home who say: “I’d buy this home but it doesn’t have a second bath….. but it doesn’t have a newer kitchen…. But it doesn’t have new wood floors… but it….”
Now you can say “If I can take care of that would you like to write an offer?”
Use a renovation loan to buy a mixed use building up to 4 units or $$ for investors to rehab
Conventional renovation loans can be as large as 801,950 for a 4 unit property; 645,300 for a 3 unit; 533,850 for a 2 unit and 417,000 for a 1 unit home or condo
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