The best time to renovate a home is before you move in — renovation loans help you turn that FIXER UPPER into your dream home.
The best time to renovate a home is before you move in — renovation loans help you turn that FIXER UPPER into your dream home.
They will help to structure the loan, maintain communication between you, the contractor and loan officer, and guide the entire process from application through completion.
The The opportunity to borrow purchase plus renovation money in one easy mortgage introduces a world of possibilities to the home buyer. Many different types of home improvement projects are eligible for financing with FIX-IT MORTGAGE.
Your FIX-IT MORTGAGE EXPERT is your home renovation partner. You are never alone. AMG is here to walk you through the entire process. We will help you put the right financing together and we will help you get the job done!
Securing a loan to buy and renovate a home with Advisors Mortgage follows a similar process to purchasing a home, with a few additional steps.
Once you have found a home that you are interested in and spoken to your loan officer about the pre-approval process, it is time to consult with the experts. You will want to schedule a contractor to walk through the home you are looking to purchase. Buyers may use a contractor of their own choosing or ask Advisors for a recommendation from one of our trusted partners.
Together, the buyer and the contractor will put together a plan for renovations. Ideally, you will want to secure multiple estimates.
Once you have decided on a home and worked up a rough estimate for renovations, we will need to schedule an inspection. Your FIX-IT MORTGAGE EXPERT will help you schedule the right inspection with the right inspector to help you detail your plan and document it correctly. We will then order an appraisal that will be done as if your project was complete. The appraiser will value the property “subject to” the improvements.
At closing, with the proceeds of your new Renovation Loan, we payoff the seller and deposit your Renovation funds in a construction escrow, in your name. Then, through a system of inspections and draw requests, you and your contractor withdraw the money to pay for your project. Your FIX-IT MORTGAGE EXPERT will be there each step of the way until the final inspection.
With FIX-IT MORTGAGE we will help you BUY IT. FIX IT. and LOVE IT!
They will help to structure the loan, maintain communication between you, the contractor and loan officer, and guide the entire process from application through completion.
First things First! Get qualified for the right loan with the right lender! If you are considering a FIXER UPPER or an older property that needs an update, a traditional qualification focused on just your income won’t work! Our FIX-IT MORTGAGE EXPERT can help you understand the formula of sales price plus the cost of Renovations and then focus on the loan amount. Then we will help guide you through the appropriate right steps to close on time, including pre-approval, inspections, appraisals, contractor estimates and developing a complete renovation plan.
At closing, with the proceeds of your new Renovation Loan, we payoff the seller and deposit your Renovation funds in a construction escrow, in your name. This is a single, fully funded mortgage loan. At closing you have borrowed all of the money. Then our FIX-IT MORTGAGE EXPERT will help you through a system of inspections and draw requests where you and your contractor withdraw the money to pay for your project. We will be there with you each step of the way until the final inspection.
The secret to making a good home great is in the planning and the teamwork. Working with a great Realtor that understands FIXER UPPERS and the right lender with Renovation Experts will get you started. Choosing a good contractor is the next key choice. Look for referrals from family, friends your Realtor or Inspector. Look for a Contractor you can work with and that you can trust. A good Contractor will help you with decisions, planning and scheduling. Our FIX-IT MORTGAGE EXPERT will work directly with you and your Contractor from planning and documentation through each draw to the final inspection.
Advisors is a multi-state mortgage banker that believes in delivering a seamless, stress-free mortgage experience to all of our customers.
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