Renovation or Rehabilitation Loans
Rehabilitation and Renovation Loans: Some properties are deemed unsuitable for financing. However, we have a program that allows you to buy your fixer-upper as is. We will use the after-improved value in determining your loan amount so that you can obtain sufficient funds to do all the work after you close!
In a competitive housing market, first-time homebuyers sometimes struggle to find properties they can afford. A renovation or rehabilitation loan could be the answer. Loans of this kind allow borrowers to make necessary improvements and repairs-all in one loan. Who could use a renovation home loan?
- First-time home buyers looking for affordable options.
- Rural home buyers who have few new homes to choose from.
- Senior homeowners who need accessibility improvements so they can age in place.
- Multigenerational households that want to customize a home to fit family needs
At MEP, we have experienced loan officers who know the details of originating renovation and rehabilitation loans.
