Renovation Purchase Loans: Open Up More Options For Your Clients

Mortgage and Lending with Producing Branch Manager at Cardinal Financial Company. NMLS#469258

This is just one of the areas where PrimeLending can help you sell more homes. If you are not familiar with renovation programs please message me for details. See below from our ActiveRain & PrimeLending webinar we had today.

Original content by ActiveRain University

In this webinar, I am joined by Deric Barnett and David Ricci of Prime Lending, the fourth largest retail lender in the country. 

Deric and David have some great information at the start of the webinar about the challenges facing the next generation of home buyers, Gen Y and Millenials. If you aren't familar with the challenges faced by the next generation of buyers, this part will really open your eyes.

But the good stuff comes when they dive into some different loan programs that Prime Lending offers around Renovation Purchase Loans.

What is a renovation purchase loan? 

In a nutshell, it allows your buyers to finance projects, both needed and wanted, into the purchase loan when buying a new home.

How many times have you worked with buyers that just can't find anything they like in their price point? Maybe they want granite counters and nothing you are showing them has granite. Or maybe they love the house, but they just don't have the cash to finish the unfinished basement. Or, even more common, what happens if something comes up in the inspection but the seller doesn't have the cash to fix it?

Check out this webinar and find out about some loan programs that will open up a whole new world of possibilities for your clients. And a whole new world of properties you could be showing them!

The Recording:

(please note, the video portion got cut off at the beginning. Forward to the 4:30 mark to start seeing the visual portion of the video. Until then, you just can hear us talk)



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Comments (2)

David Shamansky
US Mortgages - David Shamansky - Highlands Ranch, CO
Creative, Aggressive & 560 FICO - OK, Colorado Mtg

Yep 203k is a good loan to help a client get the home and the upgrades they want all at the same time

Aug 21, 2014 12:47 PM
Patrick Chicklinski
Producing Branch Manager at Cardinal Financial Company. - Tulsa, OK
918-946-4218, NMLS # 469258

David - Another popular one in Oklahoma is is our EZ C program.

Aug 21, 2014 12:51 PM