Renovation and Rehab Home Loans

Unlock Your Home’s Potential with Cash-Out Refinancing

Consider cash-out refinancing as your gateway to transforming your home. Over time, as you diligently make mortgage payments, your home’s equity grows. With a cash-out refinance, you can leverage this built-up value to access cash for your home improvement projects. Here’s how it works: you exchange your existing mortgage for a larger one, getting cash in return.  Imagine you’ve accumulated $75,000 in home equity while still owing $100,000 on your mortgage. You want to invest $20,000 in renovations. Through a cash-out refinance, you can tap into that $20,000 from your property’s equity and refinance to a new mortgage with a $120,000 balance.

One of the perks of cash-out refinancing is that it often comes with lower interest rates compared to other home improvement loans. Additionally, you may qualify for an income tax deduction, making it a cost-effective choice for financing home improvements without introducing an extra monthly payment to your budget.

Simplify Your Home Improvement Financing with an FHA Rehab Loan

As a homeowner, the FHA Rehab Loan offers a streamlined solution for funding your home improvement projects. This loan, provided by the Federal Housing Administration (FHA), combines your mortgage and home improvement costs into a single package. No need for two separate loans or double closing costs; you finance your home purchase and improvements together with the assistance of your financial lender.