“Demand for Renovation Loans Continue to Grow”
Hi Joe- I just wanted to run some numbers by you to see if we are still on track for approval and also should I get the required docs at this point?
We need to pay off our current mortgage 206K to pay existing loan. We are getting bids around $200,000+/-
I understand we need to keep 5% equity in the home and we may need to add some of our funds to get close to the 200k. Hopefully the GC numbers will come in close.
These clients were referred by a local bank that doesn’t do renovation or construction loans. These are loan products that we have been doing for years.
They looked to purchase another home but couldn’t find what they wanted so their best option was to renovate their current home. They love where they live and once they complete the renovations they will finally have the home they have always wanted, a perfect combination.
“WHO ELSE DO YOU KNOW THAT NEEDS MY HELP?”
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