A refinance plus improvements mortgage offers the following benefits:
This type of program varies slightly across lenders, but it is intended for situations where a simple refinance does not provide you with the funds needed to renovate. Similar to a purchase plus improvements, you are responsible for the upfront cost of the renovations. Your lender will reimburse you once the improvements have been inspected.
Our refinance plus improvements infographic was designed to help you better understand the process. It includes information on:
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