Turn that almost perfect home into the home of your dreams!


home-renovation-plan-2Finding the perfect property to fill your family’s needs can be challenging. You are looking for the right fits, finishes, bedroom count and living space to fit your lifestyle; and the right location and school district if you have children. Not every property you view may have all the items on your list. I suggest you take a slightly different approach – zero in on the neighborhood and find the property that may work, but needs some tweaking. We have a home improvement product that can turn that property into the perfect home for your family!

Our options for home remodeling can provide you with the resources you need.  Imagine the four bedroom two-story that needs some updating, including finishing the lower level to include a recreation area and that extra bedroom! We can bring in one of our renovation specialists to assess the property and work with you to develop plans and specifications to make the home match your needs and lifestyle. We lend from the “as completed” value of the home, which includes all the renovations you desire to make the home work for you. The Construction-Renovation loan will purchase the property and set up the necessary funds to pay for the costs of remodeling. This process is very similar to our new construction loan, except this time you are purchasing and renovating rather than building a new home from scratch. As work progresses on the home and payments need to be made for material and labor, the contractor will prepare a draw request. We will review the request, match it up to the sworn construction statement provided in the construction exhibits, and prepare the title search and inspections required to complete that process. Every step of the way as money is paid out for work that has been completed, we check to be sure no liens have been filed on the property, collect all invoices and lien waivers, and inspect the property to make sure the work has been completed as requested.

Now, fast forward to the completion of the project – A final inspection of the property will be done to make sure everything has been completed per the plans and specifications you agreed to. We will balance the final numbers against the draws requested during the project and prepare the documents for your permanent end-loan to be put in place. This process determines any remaining amounts that need to be paid out to the contractor, reconciles the construction loan to get the proper payoff statement along with the collection all final invoices and lien waivers. We balance everything so you don’t need to worry that someone may not have been paid for their part of the project. The permanent end loan, or mortgage, we place will be the only lien on the property.

With the final paperwork signed, you are now ready to move into the home you always wanted, but could only imagine! You get the neighborhood you desire and the home you will love for years to come, all provided by a home improvement loan from your local construction lending experts. Let us help you turn a home that’s almost perfect into your perfect dream home! – Randy Cullen NMLS #326128

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