Remodel and Construction Loans

By
Mortgage and Lending with Community First Financial

Rehab and Renovation 

Maybe you like the location, but not the home. Maybe you like the house, but not the kitchen. Maybe you like the home you live in, but want  a bigger one.  Use of a construction loan can help you build, rebuild, remodel or rehab any home you choose.  Most work can be completed cheaper than you would think.

Heres how it works:

The loan is based on the value of your home AFTER the renovations are finished. This gives you the flexibility to make your home into more than you could with just your current home equity. During construction, the loan is a line of credit with interest-only payments due on the outstanding balance. When the renovations are complete, the loan converts to a conventional mortgage. If you need to move out while your home is being renovated, we have a "no-payment option" during the construction period to help you afford the increased housing expense.

Other great features of a Major Renovation Loan include:

A contingency reserve to cover plan changes or unforeseen circumstances. A single loan structure with only one settlement- a feature that could save you hundreds of dollars in settlement costs.

 construction

      Troy Schuricht

 

7575 E Redfield Rd   Suite 235

Scottsdale, AZ  85260

480-305-8905 - office

480-393-8801 - fax

http://www.communityfirstfinancial.com/

http://www.yourlendertroy.blogspot.com/

click to: Google Troy Schuricht!

 

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Tags:
renovation loans
contruction loans
community first financial
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arizona remodel loans

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Rainmaker
434,606
Adam Brett
The Adam and Eric Group - Fullerton, CA
The Adam and Eric Group, Fullerton's Finest

GMAC just put a program where they will give you a contruction loan on top of the conventional financing at the time or origination.  In a predetermined time frame it will convert to conventional.

May 31, 2008 09:52 AM #1
Rainer
29,614
Andy Laughlin
ConnectRealty.com - Bellingham, WA

Thank you for sharing. Have a great weekend!

Andy Laughlin

Connect Realty

May 31, 2008 10:29 AM #2
Rainer
50,003
- -
- - Bogota, TN

Thanks for you for taking the time to comment on this subject in the Active Rain network.  AR is the new "cyber backbone" of the industry, and with it's uplink to Localism.com it is transforming the real estate marketplace. Agents who don't see which way the cyberwind is blowing are going to find themselves at a considerable disadvantage inside of three to five years.

Jul 21, 2008 09:50 AM #3
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Rainer
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Troy Schuricht

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