Purchase Plus Improvements Mortgage is the title of this product and this is how it works. You head out with a realtor to pick the best house for your needs. You write up an offer and bargain your way to the best price. At the same time, you contact a qualified contractor or other service providers, to get quotes for the type of work you would like to do. The quotes will be provided to the lender as part of the financing process. The lender reviews the quotes and provides the thumbs up. This product can also work well for people purchasing a brand new home. This is an easy way to get the funds you need to finish the basement, remodel a kitchen or build a patio.
For more information about this type of mortgage, give us a call.