Your dream home may be the first home you purchased but for many people this is not the case. For most families it isn’t until they have been homeowners for several years that they consider searching for their dream home. Searching for your dream home is one thing, while finding your dream home is another entirely, especially in this housing market. We have seen an extreme shortage of homes available to purchase. In fact, one of our mortgage bankers has 16 families who have prequalified for homes, they just cannot find one to purchase.
If you find yourself ready for your dream home consider this thought: what about instead of moving to something better, you make something better? By refinancing your mortgage with the 203k Loan, you can turn your current home into your dream home. This loan isn’t just for repairs, it can be used for painting, upgrading appliances, room additions, even replacing your kitchen cabinets. Unlike some bank loans which offer loans based on the amount of equity you have established in your home, the amount lent with the 203k is based on the after/improved value of your home.
By refinancing with the 203k Loan, you end up with your dream home, in the neighborhood which has already become home to you and your family. To learn more about the 203k Loan visit check out our website. If you would like to have your questions answered by one of our renovation specialists click here!
Still have concerns or questions? Check out our video and webpage for more information on the 203k Loan