Were you aware that you can use a mortgage not just to buy a home, but to fix it up as well?
There are specialty loan products available to borrowers at all price levels which include “extra money” to contract for repairs. These are called “renovation loans” – Quinn & Wilson has worked with several buyers on this plan.
With a renovation loan you can identify a property in need of repair, secure a quote from a contractor, and “bundle” the two amounts into one mortgage to be paid over time. This eliminates much of the out-of-pocket cost associated with trying to turn a house in need of help into a beautiful home or may provide the vehicle you need to get into property investment.
As you can imagine, there are certain terms-and-conditions that go with renovation financing, but the team at Quinn & Wilson know what to do and have contacts (both on the mortgage side and the contracting side) to help you succeed.
If you want to learn more about the possibilities that exist for renovation loans, you can contact us directly and we will be happy to help!
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Mortgage Network, Inc – NMLS#2668
c/o Quinn & Wilson REALTORS
1494 Old York Road
Abington, PA 19001
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