Purchase Plus Improvements Mortgage
Find the best interest rates and mortgage terms possible
The purchase plus improvements program is designed to allow qualified home buyers to renovate their new home and include the cost of the improvements into the mortgage right after taking possession. The cost of the improvements can be added into the mortgage with only 5% down! This program works extremely well for a variety of renovations including the installation of a new kitchen or bathroom, upgrading flooring or finishing a basement.
- You find the house plan you really like but there are certain things you dislike. The kitchen, flooring, maybe add a bathroom or even basement needs upgradation.
- When you sign the offer to purchase you will also need to get quotes for the work that you would like to do. Your realtor can assist you with finding people if needed.
- The lender will need to review the quotes and ensure that value is going to be added to your purchase.
- Provide all of the requested information in a timely manner.
- Happy house hunting keeping in mind you may be able to add some upgrades to your mortgage.