This is a great video with the professionals at Colorado Real Estate Experience. There is some valuable information about home renovation loans and how they can work for you.
If you dream of a major kitchen remodel, a renovation loan may be the answer. The great thing about one of these loans is that it factors in the value of the home AFTER improvements. No second mortgages and no home equity line of credit. Just one loan for your dream home.
Buying a home with a renovation loan can be a great a great option if the you are thinking about purchasing a home that needs a lot of repairs, upgrades and remodeling. The reason this makes sense is because your loan amount is based on the after improvement value.
We put together this video to provide information on what to look for if you’re buying a home that needs major renovations. We also discuss the advantages of home renovation lending and highlight all of the items that a renovation loan can pay for.