Does your home need improvement?
Whether you need a new roof, furnace, kitchen cabinets or any other repair, you can use a rehab or renovation loan to make it happen! At Bookend Lending Corp we offer several options for both conventional and FHA renovation loans. No matter what your project is, we have a renovation loan for you!
You can finance an addition to your home!
You can use a rehab loan to add another room, another floor too or add a garage!
How do rehab loans work?
Determine what repairs you want to do and interview contractors to determine the cost. Once you decide on a contractor and the specific details of your project, you’ll want the contractor to give you a very detailed proposal breaking down both labor and materials. In many cases you’ll need to do some shopping to determine your preferences. For example if you’re remodeling a kitchen you need to pick out cabinets and countertops and appliances and flooring in order to come up with the final cost of your project.
Once you know the cost, you can get the loan set up. You’ll need to borrower enough money to payoff your current mortgage and fund the new project. At closing your current loan is paid off and funds are set aside for your renovation!
If skilled (licensed) contractors (like electricians and plumbers) are needed the general contractor will need to name them. All contractors need to provide proof of insurance. Also, if required, you’ll need to obtain a building permit.
Who should I call for info on a rehab loan?
Let an experienced loan officer, Renee Duval (nmls# 97967) of Bookend Lending Company, assist you in making it happen! Call Renee at 603-345-5644 or email at renee@bookendlending.com