Friday, 07 November 2008
Buying a house and turning it into your dream home and getting a loan to fulfill this desire. Sounds ridiculous doesn’t it? Well it’s not as crazy as it sounds? I have a relationship with a Mortgage broker who has a renovation financing plan that provides the opportunity to buyers to purchase properties in need of improvements. With this option, qualified buyers can chose a fixed or adjustable rate loan that’s based on the improved value of the property. The loan covers all the costs of minor and major repairs as well as the purchase price. In a nut shell, buyers can buy a property in not the best of shape and transform it into the house of their dreams. Applicants must meet standard credit qualification guidelines applicable to the loan program.
