Construction, Renovation, and Rehab Loans

 

 

Maybe you are considering a construction loan to build your special new home from the ground up to your own personal specifications?...  Or maybe you are looking for a renovation mortgage or rehab home loan to help you finance various home improvements while simultaneously increasing your home's value? 

 

Either way, Ultra Mortgage is here to help you.

 

While many people have heard of "construction" loans, many others do not realize that there are "renovation" loan programs specifically designed for those looking to make home improvements. 

 

The best part is that qualifying for these specific loan programs is sometimes easier than qualifying for a traditional "cash out" refinance or home equity loan.  This is because a cash out refi is based on the "present" value of a home, whereas a renovation mortgage is based upon an "after-improvement" value.  Essentially, this means that the lender is giving the homeowner "credit" for the upgrades that are soon to be made on the property.  

 

Some people are very surprised to find out that we can often help those borrowers who are looking to add a new addition, new roof, new appliances, new flooring, painting, a new deck, landscaping, pools, etc.  If you think that you might be a good candidate for this type of home loan, then you should seriously think about giving us a phone call.   

 

Please remember that we offer a complete line of construction loan and rehab/renovation loans - enabling you to take advantage of financing your home in a manner that has the most benefit to you.   

 

Give us a call to find out all of the details today!