Home renovation loan or also known as Home Improvement loan that gives homeowners access to funds needed to fix up their home. These renovation loans can come in the form of mortgages with built-in fixer-upper funding or personal loans. Depending on the type of loan you receive, you may need to show proof that the money was spent on the house or paid to a contractor.
Renovation home loans can help you buy an older home in a good location that you have been desiring or help you buy a home that is priced lower because it needs some extra work. These loans allow you to finance the house plus the repairs and renovations needed at the same time.
You might consider a Renovation Loan if:
You are a first-time home buyer looking for more affordable home prices
You are looking for an older home in an established location with limited options
You are an investor considering buying a home to fix up and resell
No more worrying about which renovation loan option you should go with or which projects might qualify as well as how much to finance.
BizBridge is here for you. Our loan advisors are standing by and ready to help you figure out the options available for your situation. Helping you achieve your home buying dreams will be our goal!
Apply here or contact our professionals at BizBridge for advice.