Renovation Loans in Westminster, CO
For many homebuyers the task of selecting the right property can be difficult. Often, these properties are in need of a few repairs and can eventually become costly and time-consuming. A renovation loan can be a solution to your problem. The use of these loans can help speed up the process for your purchase, allowing repairs to take place much sooner. Listed below are just a few ways to improve your financing when pursuing home improvement repairs:
A Streamline 203(K) loan allows a customer flexibility and can provide financing for up to 110% of the home's appraised value and renovation amounts up to $35,000.
The process for repairs can take considerably less time with these loans, as there is no work write-up and no inspection required. If repairs are less than $15,000, no HUD consultant is required. HUD consultant fees are eliminated and no post-close draw inspection fees are required if the repairs are less than $15,000.
The overall intent of the 203(K) renovation loans are designed to meet the homebuyers needs. For more information on renovation loans in Westminster, CO, visit my website www.comortgagesite.com.
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