If you have found a great home that just needs a little updating, a purchase plus improvements mortgage can be an excellent way to turn that great home into your dream home. After your down payment, closing costs and moving expenses, there can be little money left over for renovations; but with a purchase plus improvements mortgage, you are able to factor the cost of your renovations into your mortgage with as little as 5 percent down. For example:

If you purchase a home for $400,000 and determine that your renovations will cost $20,000, the total amount of your mortgage financing would be $420,000. With a down payment of as little as $21,000, you are able to complete your renovations right away and pay off that $20,000 throughout the course of your mortgage. 

For more information about this type of mortgage product, feel free to contact our office today!

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Current Rates

as of September 25th, 2018

2.991 Year
3.342 Year
3.493 Year
3.594 Year
3.295 Year
3.497 Year
3.9410 Year
2.65ARM/Variable
3.95HELOC
Innovative Mortgage
Sep 11Whether you are a first time home buyer or a seasoned investor, our easy to use mortgage calculator can help you fi… https://t.co/0CYjk8NLFvFollow Innovative Mortgage
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Our team can assist you in securing financing to include renovations on your home

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