Renovation Loan Insights
Renovation loans are a fantastic way to borrow extra money at the time of a purchase and make updates to any house!
A Renovation Loan can be used to:
-Update Bathrooms
-Remodel Kitchens
-Install Fencing
-Roof Repair / Replacement
-Foundation Repair
The sky's the limit!
What about Payment, Interest Rate, Closing Costs?
Renovation Loans are amortized over 30 years, spreading the additional borrowed funds for the project to be spread over 30 years. This makes the impact on monthly budget measurably less than obtaining a 2nd mortgage or construction loan to do the same renovations.
It's very gratifying to be able to get all the house projects done at once and then Enjoy your home. You don't have to live in the home and do them a room at a time as your budget allows.
Real Estate doesn't always have a fast appreciation rate but with proper updates it opens opportunity to capitalize on large equity gains early on.
Video 'What a Renovation Loan Can Do For You' - this is a good way to introduce the concept to a buyer who's unfamiliar this option.
https://youtu.be/qjFD88WCnas
Video 'How Realtors Can Create A Smooth Transaction' - this is a good way to break the ice and have a conversation starter with an agent who's not familiar with the process of a renovation loan.
https://www.youtube.com/watch?v=QV6ZIYhHKsw
Video 'What Contractor's Need To Know' is a good way to introduce what the loan process includes for them. It's a good conversation starter.
https://youtu.be/YDNRZXIglBY
Thank you for including me in your project, I look forward to being a resource for you :)
Sincerely,
Crystal Toews
Branch Manager/Loan Officer
How Realtors Can Create A Smooth Transaction...
What Contractors Need To Know...
Product Flyer
"Seriously. Crystal, Tyler and Misti were incredible! I had a ton of questions as this is my first home buying expetience, and they were all answered quickly! I was updated with each new step and Crystal made some very cool videos that explained what happens in these steps! Plus, we are now living in our very own home! Thank you so much!!"
Heatherhutchinson12
"Very impressed with Crystal and her team! They were amazing! Very professional and prompt with communicating and helping me with all my needs. Highly recommend!"
Ttuckerksu
"Crystal was very prompt in answering all of my questions via email or text. She also answered each question thoroughly and provided clarity each time. There were no surprises or issues. She followed up and maintained in contact to keep us informed and in the loop. Crystal made this process very easy for us."
Robinmontano
Primary Residential Mortgage Inc
400 S Main St
Newton, AL 67114
Company NMLS #3094
Crystal Toews
Branch Manager | Loan Officer
NMLS #1142776
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Primary Residential Mortgage, Inc. ™ 2021
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a. The information provided by these calculators is for illustrative purposes only. The default figures shown are hypothetical and may not be applicable to your individual situation. Be sure to consult a financial professional prior to relying on the results. The calculated results are intended for illustrative purposes only and accuracy is not guaranteed.
*Calculator Disclaimer: Information and interactive calculators are made available to you as self-help tools for your independent use and are not intended to provide investment advice. We cannot and do not guarantee their applicability or accuracy in regards to your individual circumstances. All examples are hypothetical and are for illustrative purposes. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.
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PRMI NMLS 3094. Branch NMLS 994598. PRMI is an Equal Housing Lender. Some products and services may not be available in all states. Credit and collateral are subject to approval. Terms and conditions apply. Programs, rates, terms, and conditions are subject to change and are subject to borrower(s) qualification. This is not a commitment to lend. Arkansas Securities Department 11558. Licensed by the Department of Business Oversight under the California Residential Mortgage Lending Act 4130403. Office of the State Bank Commissioner SL.0000524. Missouri Division of Finance. Oklahoma Department of Consumer Credit ML010027. This office is licensed and examined by the Office of Consumer Credit Commissioner of the State of Texas. TN-Department of Financial Institutions 109282. Consumer Voice