Refinance your renovation mortgage! Rates are currently low and the market is doing extremely well. Two great factors in deciding to refinance. We are currently helping a few of our clients save money through a refinance on their renovation mortgage. Their renovation mortgage helped them add equity into their home along with the market values continuing to rise, which allows for some great options in refinancing.
For example we are doing a “cash out” refinance allowing our client to pay off $900 a month worth of debt! This is a significant savings per month. We are also helping a client not only lower their monthly mortgage payment but also will be lowering their mortgage term! These are only a couple examples of some advantages a renovation mortgage can provided. There are many great reasons for considering a renovation loan, whether it is for a purchase or refinancing into one to help complete those “to do” lists on your home.
There are couple options for renovation loans there is the FHA 203k and a Conventional rehab mortgage. Learn more…
Check out some other helpful videos here.
Give us a call to find out if a renovation mortgage would be right for you or if you would like a mortgage analysis to see if refinancing is a good option for you.