Network Funding Mortgage is proud to announce the "Renovation Plus" Mortgage. Those clients who want to purchase or refinance a new or existing home and acquire a mortgage that includes funds for the purchase or refinance price, can now include funds for the renovation/upgrade work all in one loan process!
Borrowers who are interested in a property which lacks all their needs, but is in an appealing area because of location, school districts, etc., now have "Renovation Plus", a plan that will allow them to remodel, add a pool or spa, upgrade the interiors and exteriors, etc.
Now is the time to take advantage of the current low rates to refinance, fix up the house, add that extra room, replace flooring, modernize the kitchen, bathrooms, etc.
Investors who want to renovate and resell a property to increase cash flow can also qualify for the "Renovation Plus" loan.
First-time homebuyers want a house they can afford! Buying an entry-level "fixer-upper" home with "Renovation Plus" will meet all their needs.
THIS IS HOW THE PROGRAM WORKS:
Typically, the borrower will be someone who is interested in purchasing a home that requires some kind of renovation and upgrade, or someone who is really living in their own home and wants to refinance and renovate at the same time, with one loan.
The borrower decides exactly what types of improvements are needed. Then, the borrower must contact the appropriate vendors for estimates with written proposals. A General Contractor (Builder) or Subcontractor must complete the renovations with the appropriate license and experience in that particular line of work No renovations or improvements can be completed by the borrower. Contractors shall do all work, i.e., room additions, pool, carpet, appliances, bathroom restorations, etc.
