Building a new home, or implementing major renovations on a house are great ways to make your dream home a reality. Knowing how you will finance the construction is a challenging first step in the process. While you’re looking out for local builders and contractors, compare home building loan options as well. Aceland Mortgage construction and renovation programs offer a mortgage to build a home or construction loans to renovate and feature low payment methods and flexible payment terms during the process. But most of all, we provide guidance and advice to help make the home renovation process smooth.
In order to qualify for an FHA 203(k) home Renovation Loan, which allows buyers to finance the cost of the home and the renovation in a single mortgage with cheap rates. What makes you eligible is you must meet certain requirements outlined by the Department of Housing and Urban Development (HUD).
Rehab loans are designed to help proprietors revamp their existing homes or buy a new one that can benefit from upgrades, repairs, or renovations. A 203(k) rehab loan is a great way to help you make your own home equity fast by making your home up to date.
At Aceland Mortgage LLC, we can get you a great rate on your Rehab loan. Aceland Mortgage specialists (the Aces!) have the knowledge and dedication to provide you with the guidance you need for a new mortgage. We offer information on a variety of mortgage options.