Whether you’re wanting to buy a fixer-upper or you’re ready to love where you live again, a renovation loan from PrimeLending makes it simple. We can help you discover the perks of renovating, understand your loan options are and explain how streamlined our process really is.
Buying or Refinancing?
No matter if you’re house hunting or a current homeowner, we have options to fit your needs. You can go one of two routes depending on your situation: renovation purchase or renovation refinance, and we're here to cover both for you.
Renovation Purchase
Maybe you know the location you want to live, but the only homes available are fixer-uppers. Or what if there’s a home with a great foundation and good bones, but the layout just doesn’t work for you and your family. A renovation purchase loan can help you create the home you really want without the hassle. We’ll simply include the cost of renovations into the sales price of the home, so you have just one loan and one monthly payment — and the home of your dreams.
Renovation Refinance
Do you wake up and walk into a bathroom you don’t love anymore? Then step into a kitchen that doesn’t function properly? Maybe then you turn and look into a wall instead of an open concept you really wish you had? If these are similar situations you find yourself in, consider a renovation refinance to help deliver your perfect home. The costs of renovations will be rolled into your mortgage when you refinance so you don’t have to worry about paying two loans.
The Advantages of a PrimeLending Renovation
From look and feel to finances, there are several advantages to renovating with PrimeLending.
- Location Matters — Where you live matters just as much as the home you live in. Wherever you want to be, your dream home can be right there with you.
- Updates that Fit You — You know what you want in your home. Whether it’s much-needed repairs, more space, a new kitchen or bathroom — we have options for your goals.
- More Money for Your Home — Once you decide on the repairs or updates you want, the appraiser estimates what your property will be worth upon completion. Plus, it’s tax deductible!1
- One Loan, One Payment — All costs, including the sales price and renovation costs, are rolled into one loan, meaning you only have one mortgage with one monthly payment.
- On-Time Closing2 — With our digital closing process, eClose3, you can review and sign most documents online in a matter of minutes.
- Manage Funds — After closing, PrimeLending handles all fund distributions to the contractor upon completion of each milestone.
At PrimeLending, we’re here to help you turn any home into your dream home. When you’re ready to achieve your goals, experience a best-in-class process with America’s Renovation Lender.
If you want to learn more about renovating with PrimeLending, check out this video that highlights more about our renovation products and process.
1PrimeLending is not authorized to give tax advice. Please consult your tax adviser for tax advice for your specific situation.
2On time closing and fast processing is dependent on many factors including receiving timely documentation from the borrower.
3eClose allows for electronic signing of most (not all) documents prior to closing.