Until now there were huge gaps in the market for many customers who needed or wanted to create their perfect home. Before our release of these much needed new renovation / construction products; renovation loans were confined to FHA 203k and Fannie Mae HomeStyle products and loan limits.
Our new JUMBO renovation loan allows for potential buyers that fall outside of both FHA and Conventional loan limits to purchase and renovate OR refinance and renovate with loan amounts up to $2.5M.
In addition to the exciting new jumbo renovation product; we are rolling out construction financing for consumers and for spec builders as well.
We strongly believe the ability for new homebuyers to finance new construction builds with as little a 3.5% down, combined with spec builder financing up to 70% loan-to-value, will help invigorate the housing market and provide much needed housing inventory.
We are very excited about the release of our new product line and look forward to continuing to help homebuyers and current homeowners with their renovation and construction mortgage financing.
For full details, including eligibility, please contact us.
We look forward to helping grow our local housing market and to helping our loyal customers achieve their home-ownership goals.