Financing Your Rehab/Remodel

Rehab and Remodeling

Financing Your Rehab/Remodel
Whether you’re getting ready to tear down your current home and build a new one, or just looking to update your kitchen, chances are you’ll be looking for a way to finance the project.
"Not one lender I’ve worked with through the years is still at his or her old job – except Kate. It’s because she did it right and still does it right. Construction lending used to be easy. In today’s complex lending environment, only those who truly understand construction finance are able to get deals done. Kate and her team "get it" and they’re willing to work hard for you to get to the finish line. That's who I want on my team!" - Todd Bjerstedt, McDonald Remodeling, 2011 President Builder’s Association of the Twin Cities
 

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If you already own your home, you have options:

  • If  you have equity in your property, we can do a Home Equity Line of Credit
  • If the project is substantial, we can arrange a Construction Loan based on the future value of your property once the project is complete
  • We can do a cash out refinance based on the future value

Purchase and renovate:

Perhaps you’re considering purchasing a short sale or foreclosure that needs some TLC to make it the perfect home for you and your family but you’re concerned about coming up with both the down payment and the money for the necessary repairs.  We can help with an FHA 203k Streamlined Rehabilitation loan.  Read more...

  • Single closing up to $365000 in the metro area
  • Up to 110% of the value with improvements
  • Purchase and then do the work
  • Eligible projects include most non-structural repairs or upgrades up to $35K
  • One loan covers everything on a 30 year fixed rate
  • One general contractor does everything

Have something a little more ambitious in mind?  We can arrange interim construction financing for eligible buyers. 

  • Construction to Perm purchase financing to 90% Loan to Value
  • Require a licensed general contractor bid and plans
  • The loan to value will be calculated on the as improved value of the property