If you’re in the market for a new home but can’t quite seem to find the perfect home, Evolve may have the solution for you. Maybe you love the houses you’re seeing but the kitchens are often out of date and the bathrooms need a facelift. If you can see the vision for the house, but don’t have the cash on hand to make it your dream home, perhaps a Renovation Loan is the answer.
Turn your House into your Dream Home
Evolve offers renovation financing for both new purchases and refinances that allow you to reimagine your home – from small projects to full home makeovers. By including your renovation costs within your mortgage, you keep loan costs lower, as it is one, long-term loan which meets your needs, whether that’s fixed or adjustable rate. For homebuyers who know going into a purchase that they plan to pursue renovations, the renovation loan is a great way to have consolidated finances and competitive rates.
Start Construction on Your Timeline
Another great benefit to including your renovation costs in your mortgage is that you are empowered to make those changes as soon as you move in. Many people wait to make upgrades only when they are selling a home. With this option, you’re increasing property value while also getting to enjoy the home’s new features for the years to come. A variety of projects are eligible for this program, including full reconstruction, cosmetic changes, plumbing, and landscaping, to name a few. Energy conservation updates are also eligible for this program, and indeed basic energy efficiency requirements and structural standards must be met according to HUD.
To learn more, visit our Evolve Mortgage Solutions page.