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Investment Property – Renovation Loan Options!

Written by Clay on . Posted in Investment Properties, Rental Properties

PrintPurchasing an investment property that needs a little work?  Wish you could include the costs of renovation in the loan?  You can with a HomeStyle renovation loan from Signet Mortgage! You can ask me any property management questions in the comment box below. Purchase that rental property that needs renovation or repair on this guest post. Improvements can be anything that adds value to the home.  No longer will a purchase be held up because of the condition of the home – a renovation loan will allow roofing albuquerque nm repair service to cater you after closing with funds borrowed at the time of purchase. You must also conclude to take care of water in the floors, walls, ceiling, basement, attic, and wherever it is that it doesn’t belong. Check out http://silverlinerestoration.com/ for more information. The lender simply creates a hold-back for the funds that are dispersed as the work is completed. It doesn’t matter whether you are a residential customer or large corporate customer with a high-rise building, you’ll receive the same high-standard of care, service and support. Property must be a single-family home and the loan-to-value based on the “as completed” value is limited to 75%.  The underwriting is based on slightly more conservative Fannie Mae guidelines requiring a 720 FICO score, etc. In case you are Canadian and looking for a Real Estate there then take a look at http://mirvishgehry.ca/location-and-amenities. Cost of improvements can be up to 50% of the “as completed value” which provides a great deal of flexibility to buy a distressed property and turn it into a solid investment.  Improve your return on investment by putting less cash into the property. Amcor Share Price will be a good place to start your investing business. This example illustrates purchasing a $400,000 property with and without a renovation loan. The ability to add the desired renovations into the value that the 75% loan is calculated on, lowers your cash investment.

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If you made it this far you are obviously interested in the details on how a companion maids cleaning service can work to purchase your next investment property.  As I am a CPA and licensed as a real estate broker I am uniquely suited to assist with even the most complex situations and would be happy to help.  Please give me a call today. clay signature black Clay Selland, President, Signet Mortgage Corporation 925-807-1500 x303 Clay@signetmortgage.com

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