We offer a full portfolio of financing solutions to homeowners specifically for renovations. From remodels, room additions, new construction including ADUs.
Which is the Best Loan for you?
The good news is most homeowners have multiple solutions. Navigating the best solution depends on a multitude of factors: equity, credit, cash flow, available funds, and more. Our consultation will help navigate financing solutions that best meet the needs of each borrower.
Refinance - Cash out
Renovation Loans - HUD, Fannie Mae, VA
Renovation loans are available from HUD, Fannie Mae & VA. for property purchase or refinance. These loans allow inclusion of a construction budget to your home loan. These loans offer low financing & low-down payment. One of the biggest advantages is that it creates a larger construction budget based on the future property value.
HELOC - Home Equity Line-of-Credit
A financing solution for new construction. Construction costs are paid in completed phases. Two options exist: Construction to Permanent or Construction Only. One of the benefits is these loans offer Interest-only during the time of construction. The monthly payments will increase in line with the progress of the construction.
Reverse Mortgage or Home Equity Conversion Mortgage (HECM) are government insured loans that provide monthly payout of one-time cash-out lump sum payout based on the home equity. This could be used for home renovations or to build an ADU.
Borrower must be sixty-two or over to qualify. You can still live in the residence without any monthly mortgage payments. You could use the one-time cash payout to build an ADU. You now have additional monthly income to enjoy in your retirement.