Renovation loans give you flexibility. Whether you are buying an existing home, or needing to upgrade your current home, a renovation loan from Monsour Mortgage Pros allows you to renovate that home to get it where you want it to be.
Save money by financing renovation costs into your mortgage rather than racking up credit card bills or dipping into your savings. With our renovation products, there is only one loan, one application, one set of fees, one closing and one monthly payment!
With 2 different renovation loan program options to help you out with projects big or small, we can offer you the help you need.
With our Standard Renovation program, you can finance up to 75% of the homes completed value to complete your projects. That means if the house will appraises (after upgrades) for $300,000, you could possibly finance up to an extra $225,000 for the renovations. Of course, there are many variables that determines how much renovation monies you can borrow. The Pros at Monsour Mortgage Pros will help you with that part! You will work with an experienced, approved, licensed contractor and can use these funds to upgrade landscaping, remodel a room, or even add a new addition onto the property.
If you are looking to for a smaller renovation, say a new roof or even new appliances, than look no further than our Purchase + and More program. With this program, you can finance up to an extra 15% or $50,000 (whichever is smaller) for improvements. What is great is with this program you do not even need a contractor in most cases! This product is more streamlined, and has the ability to close quicker than standard renovation loan.
Give the Mortgage Pros a call and let us help you turn you next property into your dream home…through renovating your way!