Renovation Loan in St. Louis - Extreme Makeover of Your Home?
By: David True
Have you considered an “extreme” makeover for your home such as an addition or a swimming pool? Or, have you found that home in the perfect location, but it has not been updated since the 1980s, and it will take a lot of money to update it to today’s standards?
First Integrity Mortgage Services has a robust platform of renovation loans available to our clients. Whether you are looking to purchase a new home that needs renovations or you simply want to renovate your current home, we have specialized programs that many other lenders do not offer today.
If you are in the market to purchase a home these renovation loans give you, the buyer, the ability to purchase the home and renovate it with borrowed funds. Some of these programs allow for as little as 5% down. We also have a proprietary program, called the “Design Plus” Program that allows for loan amounts up to $810,400. These rates will be equivalent to conventional rates.
If you live in your current home and want to complete an “extreme makeover,” then these programs are right for you too! These renovation programs will lend based on what the home will be worth AFTER the renovations are completed.
Besides the different programs we have to offer, we have a renovation specialist on staff, who specifically works with our clients as they go through the process. Ryan Cox was a general contractor for 15 years and understands the business. He is now on the financing side and he can help contractors and clients throughout the process.
With the inventory shortage today in most markets, this is the perfect solution for a buyer and real estate agents to get the deal done!
Many people are living in their perfect location, and don’t want to move. However, they are outgrowing the home and they don’t know what to do. These are the perfect people that can utilize these programs to obtain the funds today to complete the renovations needed to expand the home they are in currently.
For more information about the process or if you have any questions or comments regarding this article, please contact David True, NMLS# 604989, at (314)566-6200 or dtrue@firstintegrity.com.