Renovate a Home You Own or Want to Buy
Consumer Renovation Programs (CRPs) - A Key to Neighborhood Revitalization & Your Money to Fixer Upper, Property Brothers, Love It or List It and the like.
Way too many home owners accross the US, have homes that have little to no equity and/or are in need of major repair. According to the US Census Bureau over 40% of homes we built before 1969. Home owners would seek financial assistance from a lender, but would be denied for a number of reasons. Right at the top would be their “equity” position (the difference between the home's fair market value and what they owe on their mortgage). Many homeowners are upside down, meaning they owe more than the property is worth. They are stuck.
Little known Consumer Renovation Programs (CRPs) are the answer, like FHA203K and Fannie Mae's HomeStyle. Loans like these are the only ones that do not look the current value of the home but future value based on repairs and/or improvements that will be made. So if you are aware of homes being flipped and sold for top dollar in your neighborhood, you may be able to tap into that value and qualify for funds to do your own renovation.
CRPs have a reputation of being difficult. Shore Partners makes using CRPs easier. See how CRPs can work for you. Connect with one of our consultants today by completing the form below or call us at 773-426-2896.
Warren & LaShawn