Wondering whether you should buy that property that need so much work? I have the answer. Yes, and it is so easy to maximize your investment with the loan program I just learned about.
Does everyone know about the Wells Fargo Purchase and Renovate Loan?
This program offers financing that enables you to immediately turn the house you are thinking of buying into the home you always wanted. You need to contact a licensed contractor to give a fixed bid, and that amount is added to the value of the home. The loan is based on the value of the home after the improvements have been made. This is a great way to get around a home that may not appraise for the sales value at the moment. It is also an excellent way to add luxury items such as pools and spas.
There is more. When you want to remodel but it is not the best time to liquidate savings or other investments, Wells Fargo also has a Refinance and Renovate program. Just one application, one set of fees and closing costs, and one monthly payment. So if you buy that fixer now, don't worry. You can always refinance it later and get the funds to renovate.
These are innovative loan programs and I invite you to contact Marlene Bocanfuso in Palm Springs, CA for more details at 760-567-8729.
You can contact me, Catherine Marcy with RE/MAX Palm Springs, at 760-272-0753 and we can work together to find the perfect fixer.