“Renovation Mortgages More Common”
Joe,
Kelly and Keri checking in. We have decided to stay in our current home and want to make some changes. A couple of months back you spoke about a renovation loan so that we can create an addition and other renovation. I would like to know how much we qualify for now so that we can have an idea of what we can do. Hope all is well.
Respectfully, Kelly
I did 23 mortgages in the month of March, just over half of them had a renovation component. This is definitely a trend, but why?
Like Kelly and Keri, they were looking to purchase another home but just could not find what they wanted. Many can’t find what they want and are choosing to stay where they are and upgrade their current home. These clients love their current location and neighbors and have decided if they can accomplish the renovation they want, that would be their best solution.
Image courtesy of Tiramistudio/freedigitalphotoe.net
