As a potential homebuyer, you may be considering a purchasing a home, but there’s just not much available to choose from. That is why homebuyers are considering affixer-upper or a home in need of renovations. While the idea of buying a home in need of TLC may seem daunting at first, renovation lending can help make your dream a reality.
Renovation Lending is a type of loan that allows homebuyers to finance both the purchase price of a home and the cost of renovations or repairs. These loans are designed to help borrowers turn a neglected or outdated property in their dream without having to pay for the renovations out of pocket.
Kind Lending offers several types of renovation loans, including FHA 203(k), Fannie Mae HomeStyle, and several different term options for both. Each of these loans has its own set of requirements and eligibility criteria, so it’s important to connect with a Kind Lending Mortgage Loan Officer to learn more about each loan and to determine which one is right for you.
Renovation lending can be a great option for you to purchase and create the home you’ve always wanted without having to drain your savings in the process.