If you want to buy a home that needs some work, you may take out a home renovation loan. These loans help you buy the property, but also give you money to renovate it. They are one of the only ways to purchase a fixer-upper, especially if the home won’t pass an appraisal.Looking for Current Mortgage Interest Rates? Click Here.But will you pay more interest for the home … [Read more...] about Will you Pay More Interest for a Home Renovation Loan?
If you found a home you love, but know that it needs some renovating, you may wonder if you can add the renovation costs to your mortgage. Typically, purchase mortgages don’t allow you to pay for anything except the cost of the home and possibly some closing costs.Compare Offers from Several Mortgage Lenders.There are a couple of loans that do allow this, though. Keep … [Read more...] about Can You Add Renovation Costs to a Mortgage When Purchasing?
If there’s one area of your home that you probably don’t think about when considering the value, it’s the garage. Contrary to popular belief, though, this room may add significant value to your home. Obviously, the condition of the garage and the location of your home will play a role, but in general, your garage should offer some type of value.Compare Offers from Several … [Read more...] about How Much Value Does a Garage Add to a Home?
If you are like many other homeowners, you have a long list of remodeling projects you’d love to do to your home. Maybe you want a new kitchen, new windows, or to refinish your deck. There are a variety of home improvement projects you can do, but they all cost money. Home improvements can often break the bank.Compare Offers from Several Mortgage Lenders.If you don’t … [Read more...] about The Secret to Funding Your Home Remodeling Without Equity
If you want to buy a home that needs fixing up, you probably won’t get traditional financing. Conventional and government-backed programs will not fund if the home does not pass an appraisal because the home is not livable. The good news is that there are two options that help you purchase and renovate a home. These options are the FHA 203K loan and the Fannie Mae HomeStyle … [Read more...] about Home Renovation Financing: FHA 203K vs. Fannie Mae HomeStyle