Florida Home Improvement Or Renovation Plus Mortgage

Are you considering purchasing a fixer-upper home in Florida or simply expanding and improving your current Florida home? Whether you are a first time home buyer or a seasoned investment property owner; we have another option you might consider before obtaining an expensive or usually higher interest rate 2nd mortgage or home equity line of credit. Get a Renovation Plus Mortgage where one loan covers everything.

Purchasing a new Florida home? This mortgage will cover the purchase price and all of the renovation costs. Planning on refinancing your current Florida home mortgage? This mortgage not only covers your existing mortgage plus the renovation costs; it can also cover the closing costs.

Under our Renovation Plus Mortgage program, you can buy your new home or refinance before any work is done. At closing, the renovation money is paced in the lender's escrow account and released on a draw schedule as work is completed with inspections performed by the appraiser. Because the money is held by a third party, the contractor tends to keep the job on time and on budget. You won't be subjected to having the contractor ask for money from you every Friday and wondering if you are paying too much.

Simply put, this renovation program allows our clients to roll the purchase price of an existing property (or refinance of an existing debt) and the renovation costs into one loan. Acceptable properties for this program include; single family homes, 2nd homes, 2-4 units, manufactured homes and Condominium's (must meet FNMA guidelines).

For more information please contact our office or call one of our mortgage associates at
1-321-987-9876 Visit our online application center to apply now!

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