REMODELING CONSTRUCTION LOANS CAN MAKE YOUR CURRENT HOME LIKE NEW AGAIN

LendingMore Capital can help you transform the home you love into the home of your dreams. Lendmore Capital’s remodeling loans allow you to roll the costs of work you do into a new mortgage if you live in an older, too small home that needs repairs, remodeling, or upgrades. As a result, it is easier to afford the repairs or upgrades without having to take out a second loan, which will probably have a higher interest rate. There is only one mortgage payment to worry about. Refinancing can usually result in a lower interest rate, a shorter term, or possibly even lower monthly payments, since you are refinancing.

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For hard money loans or short-term financing, Lendmore Capital can help. Regardless of the type of loan you need for your investment, we can work with you to tailor a loan that meets your needs.

Types of Remodeling Home Loans and What You Can Do

The renovation and remodeling loans available from Lendmore Capital can be used for almost anything you want to do to your home. Several of the loans are specifically designed for smaller projects like repairs and cosmetic work. They are very flexible, and there is no minimum amount needed for repairs or upgrades. However, they can only be used for non-structural repairs and the maximum loan amount is around $30,000. Your project can include things like:

Replacing or upgrading your plumbing, electrical, heating or cooling systems
Insulating your home for greater energy-efficiency
Repairing or replacing your roof and gutters
Refinishing or waterproofing a basement
Getting new windows, doors or floors
Redesigning your kitchen or bath
Landscaping or adding a deck
Buying new appliances
And much more

Another type of remodeling construction loan is designed specifically to make major repairs or modifications to the home. Despite having minimum loan amounts, these loans allow you to borrow up to the value of your home, plus the cost to repair it. Qualifying projects include:

New construction, like room additions or adding a second floor
Major remodeling that requires structural changes
Foundation or other structural repairs
Repairs or improvements that take over six months

Renovation Loans to Help You Buy and Personalize a New Home

If you’re interested in buying a fixer-upper, our renovation loans may be able to help. You can use them to finance both the purchase price of the home and the costs of repairs or improvements. In this way, you won’t need a second loan after the purchase, which will likely have a much higher interest rate. You can then start repairing the house right away. Additional benefits include:

You could buy a home in a great location at less than market price
Getting a bargain priced home could allow you to move into a more expensive area
You may be able afford a larger home than you imagined
You’ll have more choices when searching for homes and areas to live
You’ll live in a home customized to your exact needs and tastes

Also, these loans cover repairs required to bring a home up to minimum standards, comply with city or community code requirements, or satisfy appraisal requirements. The kinds of defects or other conditions that are commonly discovered during home inspections.