A Practical Guide To Home Renovation Lending Available From RenovationReady™

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A Practical Guide To Home Renovation Lending is a newly published 14-page booklet that helps consumers who are planning to renovate an existing home or purchase a home in need of remodeling. It explains renovation loan types, costs to remodel, construction timeline and frequently asked questions about home renovation.

This Guide is a must-have for anyone planning to finance the renovation of an existing home or purchase a home in need of remodeling.

RenovationReady™, home renovation loan and construction specialists, has made its newly published A Practical Guide To Home Renovation Lending available to consumers at no charge at http://www.renovationready.com.

“This Guide is a must-have for anyone planning to finance the renovation of an existing home or purchase a home in need of remodeling,” said Jim Fraser of RenovationReady™. “Renovation loans provide the funds to purchase or refinance the property “as is” and finance the repairs. These types of loans are more complex when compared to standard home purchase or refinance loans. We created A Practical Guide To Home Renovation Lending to help consumers make informed decisions about home remodeling and financing options.”

The 14-page illustrated booklet contains detailed information about:

  •     Types of renovation loans, including FHA 203(k) and Fannie Mae Homepath, and how they compare to standard purchase and refinance home mortgages
  •     Process for obtaining a renovation loan and the documentation required
  •     Costs that go into remodeling a home, including insurance requirements, and how to calculate maximum renovation loan amounts
  •     How to obtain funds from a renovation loan during construction
  •     Home renovation project timeline, including the time it will take to assemble a project team to completing the work

It also includes frequently asked questions about home renovation and scenarios of actual projects.

“There's never been a better time to buy a low-cost fixer-upper in a great neighborhood, or remodel a current older home in need of an upgrade,” said Fraser.

RenovationReady™, a national service provider to lenders active in renovation lending, was recently named among the Giants of Innovation by HousingWire for streamlining and simplifying the renovation lending and home remodeling process.

For consumers still looking for the right home, RenovationReady™ offers an online property search and on-site property evaluation. The on-site certified evaluation assists homebuyers and their real estate professionals in making informed purchasing decisions and ensuring the property qualifies for a FHA or Fannie Mae renovation loan. At RenovationReady™, homeowners work with renovation loan specialists to keep the project moving smoothly and make sure there are no surprises along the way.

To obtain a free copy of A Practical Guide to Home Renovation Lending, go to renovationready.com, or contact RenovationReady™ at (866) 364-6720 to speak with a renovation loan specialist.

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Patricia Ropers
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