Found the perfect location to buy but the house isn’t perfect? Tired of your current space, or perhaps you need more space but aren’t sure if moving is the right choice? And here comes the role of renewal! Home renovation may seem daunting, but it can be an exciting and rewarding experience! You will fall in love with your home with a few cosmetic and structural upgrades. Whether it’s minor changes, upgrading cabinets, adding a deck, garage conversion, or an overhaul, we have a few options to help you carry out your project.
Simple updates can improve the look of a home. Rearranging or repurposing is a good start. With accessories, you can incorporate new elements to liven up a room. Try adding houseplants, swapping pillows and blankets, incorporating different materials, or new curtains. A bright or clean coat of paint can make your space feel new again. Finally, replacing your old lighting will transform the ambience and mood of your home.
Are you thinking of a bigger change? a Cash refinancing It may be ideal if your home does not need a drastic remodel but could benefit from repairs or other improvements. In most cases, with this type of loan, you can replace your existing mortgage with a new mortgage for an amount up to the fair market value of your home. Once the original mortgage is paid off, the difference can be used for home improvement and other renovation projects. Getting money back on your home can be a good investment, helping you rebuild equity and add value to your home.
Well, do you need a more significant change? As in building an addition to your home that could provide the space you’re looking for? If you are considering building additions to your home, consider first the space you have available and the purpose of the extension. Looking to add a bedroom, home office, or something else? This may include hiring a contractor or architect to help you plan and implement the project. When it comes to financing your project, we can help you find the perfect loan for your renovation plans!
Our Permanent Construction Loan is designed for borrowers who want to improve the home they buy or already own. The loan is provided directly to you, as the borrower – not to the builder – and consists of two stages: improvement or construction phase and the permanent stage. The loan is designed to include home updates made during the improvement phase. Then, when the conversion requirements are met and improvements are completed, it is transferred to the permanent phase of the process. Because it’s a single loan, there’s only one closing, saving you time and money. Whether you want to add a second story, define an interior, create an addition–or all of the above–this loan program may be for you.
Whichever path you choose in today’s competitive housing market, Silverton Mortgage is here to support you with financing options that fit your unique needs. Whether you are focused on renovating your existing home or purchasing a brand new property, we are committed to helping you achieve your goals with a hassle-free mortgage experience. Contact one of our expert loan originators today, and let’s start a conversation about how we can make your dreams come true.