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Recreating through renovation
Renovation can have an impact far beyond creating a livable home. Transforming homes through renovation is one way to restore and revitalize urban residential areas.
A purchase + renovation loan may provide a way for you to create home equity by buying a less-desirable or foreclosed property, and spending the renovation funds to create
an up-to-date home for the 21st Century.
At Fairway Independent Mortgage, we have numerous renovation loan options to match the needs of your renovation project. We understand the sometimes-confusing array of financing options available, including those involving government sponsorship or assistance.
Fairway Independent Mortgage is an agency-direct seller, and we have conduits to the secondary market. These connections provide a wide range of opportunities for us to identify
a loan that meets your needs.
Chris Draper -
your renovation lending specialist.
After the devastating impact of Hurricane Katrina, Chris Draper recognized that renovation could play an important part in the renaissance of the City of New Orleans. He realized that if experienced professionals from the shelter industry - builders, real estate professionals, and lenders - worked together to promote the renovation of attractive, affordable homes, they could help rebuild communities.*
Draper understood that purchase + renovation loans could be the key. By combining purchase and renovation funding, borrowers can obtain the funds to purchase a home, bring it up to code and, if the budget allows, make cosmetic and style improvements, all at one time with one closing.
This saves on closing costs, and makes the budget clear from the outset so the borrower will know what the renovation will cost before they complete the purchase.
Working with a lender who understands renovation lending is critical. Chris Draper has the experience and knowledge to help buyers every step of the way, from pre-approval to understanding the renovation budget to closing. Contact Chris to learn more and find out which loan program may offer you an affordable way to create your home.
* Many, many organizations have contributed to the rebuilding of New Orleans, including, Make It Right, Preservation Resource Center, Rebuilding Together New Orleans, and Habitat for Humanity - New Orleans Area.
