Scott Storace - Branch Manager, 100 Pacifica Drive Ste. 140, Irvine CA 92618 NMLS #226339 949.973.0141

"From the minute you call me to the minute we close, I have your back. No hassles, no banker’s hours & quick response times." - Scott Storace

  • Home Loans up to $3,000,000
  • Interest Rate Float Down Option
 

Have Questions? Call 949.973.0141

Renovation Loans with LPMI

PrimeLending now offers renovation loans with lender paid mortgage insurance.  This means that finding inspiration in a market with modest supply just got easier!  Customized financing options like the EZ-C and HomeStyle programs allow buyers and families access to renovation loans tailored to fit their specific needs.  It’s financing with the freedom to “make any home your very own.”

Buyers and families shopping in today’s environment may be struggling.  There isn’t a lot to choose from and the cost of waiting for the “perfect” home has become a major challenge.  With home values and rents on the rise, the Fed’s continue to talk about a rate hike that will likely affect affordability for many families if they wait too long to purchase.  However, renovation loans with lender paid mortgage insurance allow buyers and families to purchase existing homes and modify them to meet their needs.  More specifically, the renovation loans with lender paid mortgage insurance help buyers with smaller initial investments make their purchase sooner.  It’s a program that allows buyers the opportunity to move on a chance to purchase a home before home values, rents and interest rise too much.  Plus, purchasing a home with the ability to customize it so that it best meets a buyer’s needs may actually be a bargain – Especially in a market with modest supply.

What’s Included in a Renovation Loan with Lender Paid Mortgage Insurance?

PrimeLending offers renovation loans with lender paid mortgage insurance so that we can help buyers and families realize the potential of existing homes in today's market!

PrimeLending offers renovation loans with lender paid mortgage insurance so that we can help buyers and families realize the potential of existing homes in today’s market!

There are currently two terrific offers.  The first, named the EZ-C Conventional Renovation Loan with Lender Paid Mortgage Insurance includes loan limits that allow for:

  • Cosmetic Repairs
  • Up to $35k with Contingency Reserve Included
  • Up to 3 Contractors and 2 Draws
  • Loan Amount Structured based on Improved Value

The second, named the HomeStyle Renovation Loan with Lender Paid Mortgage Insurance includes:

  • Cosmetic and Major Repairs
  • Repairs up to 50% of Improved Value with Contingency Reserve Included
  • Up to 3 Contractors and 4 Draws
  • Conforming Loans Only –  Loan Amount Structured based on Improved Value

How To Begin the Process!

Applying for a renovation loan with or without lender paid mortgage insurance is just as simple as applying for a standard mortgage.  If you’d like to get started, Apply Now!  If you still have questions or if I can provide you with more information regarding PrimeLending’s renovation loans with lender paid mortgage insurance, contact me.  Otherwise, feel free to share your thoughts below!

 

 

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