A renovation loan is a loan that enables a homeowners to update or improve their current homes. With a renovation loan, you are able to utilize the equity in your current home or we can look at the “equity” once the improvements are completed.
When is a Renovation Loan Right For Me?
Homeowners will get a renovation or rehab loan when they are wanting to upgrade or do improvements to their home.
Common Questions About Renovation Loans
Why didn’t my home appraise for more with the improvements?
Depending on the improvements, you don’t always get dollar for dollar increase in value.