For those of you looking for a place to “get away” but still call (and make) your own there is finally a good option. You can now buy that vacation home, second home or even a lake house and renovate it to match your style. This is all possible through the HomeStyle Renovation Loan. This unique loan product allows qualifying buyers to purchase a second home and finance the cost of renovating the home up-to their standards or “making it their own” into the loan.
HomeStyle Renovation Loan Benefits & Terms:
- Good for purchases or refinance remodeling
- 10% minimum down payment
- 3% seller contribution allowed
- Both structural & cosmetic renovations are allowed
- Some fun improvements can include but are not limited to: swimming pools, landscaping, appliances, bathrooms, furnaces, windows & more.
Summing up: With 1 down payment, one interest rate, and only one monthly payment you can finance the purchase of your dream vacation home (or your first home) as well as the necessary renovations necessary to make it the perfect home.
*Not all borrowers will qualify; contact us for an exact quote and more information on fees and terms.