Financing options for home buyers that want to purchase and renovate a home has increased by the Residential Redevelopment Program introduced earlier this month by Platinum Home Mortgage Corp. The Smith Team of Keller Williams Las Vegas is proud to be one of three Real Estate companies working with this incredible program.
This program offers a qualified borrower to receive a 30-year fixed-rate mortgage for up to $453,100 to purchase a home that falls into the following categories –
Purchase a “non-picture perfect” home, including homes that some mortgage lenders will not finance due to the home’s condition.
Renovations to the home using a portion of the mortgage that is set aside in a separate escrow account and have a vetted and screened contractor to do the renovations. These improvements can run from minor repairs to changing the flooring, kitchen and even installing a swimming pool. Also renovations can include new air conditioning system, electrical work, plumbing and roofing.
The program is open for purchasing an owner-occupant homes, vacation home, and investor homes. Also you can apply to refinance and remodel your existing home under one fixed-rate mortgage.
The Residential Redevelopment Program is offered all over the Las Vegas Valley – the first clients to the program are buying in older neighborhoods like North Las Vegas, which in turn helps bring up the value of the homes in an area.
Michael Sweeney of Platinum Home Mortgage in Las Vegas stated “The Residential Redevelopment Program is exactly what a town like ours needs. We can help a client purchase a home in any level of disarray and in need of any scope of work, even those homes that are cash-only sales due to the home’s condition. Through our partners, we help guide them through the renovation process to turn it into the home of their dreams.”
Keep in mind that whether you are interested in buying a home or listing a home, a Realtor should represent you– this person is working for your benefit and will help you navigate through the buying or selling process. I have thirteen years in New Home Sales and sixteen years in General Real Estate sales!
Thanks and make it a terrific day…………Robin