What is a Renovation Loan?
Renovation loans allow for you to finance in repair costs to fix up your home. Typically the lender will get quotes and estimates from a contractor and then determine how much the repairs and renovations will increase the value of the home.
These loans can be great for the first time home buyer or someone looking to upgrade into a bigger home. How is that so?
With a shortage of lower priced homes on the market, a home that needs a little TLC/upgrading can allow you to put the finishing touches on your home exactly as you like!
It can also easier to negotiate on price when the seller knows that work needs to be done to the property.
Both Government loans and conventional loans allow for renovations to be financed.
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CFG is owned and operated by Proud Veterans, military family members and supporters of our Great Armed Forces. We have extensive experience with the loan process and are here to support you every step of the way.