Renovation lending can be a little more complicated that a traditional loan, so it takes a real expert to guide consumers and investors as to how to make their lending experience with these types of loans go smooth.
Renovation financing for homebuyers (owner occupants and investors) allows for the purchase or refinance and rehabilitation of a 1-4 Family home, with funds both for purchase and rehab all in one loan. The appraisal is based upon the value of the property after the repairs are done, with funds allocated within the loan to do the repairs.