Sellens Real Estate Lending
Professional Real Estate Lending since 1991
Owner Occupied Home Repair or Rehabilitation Loans Available.
One to four unit residential homes can be purchased or refinanced to include repairs or remodeling funds. A borrower is not allowed to receive any cash back.
Unlimited funds are available for repairs, up to local lending limits for the program. Use funds to repair a home, add a room, add a garage, or renovate. A licensed general contractor is required. No self-help building is allowed, unless the owner/borrower is also a licensed general contractor.
You can even add appliance costs to the minimum repair loan amount of $5,000.
Luxury items are not included, like adding a pool or spa or tennis court. But, funds may be borrowed to repair an existing pool, up to $1,500.
If the repairs are over $35,000, you can finance up to 6 months principal and interest mortgage payments.
Please write or call for information specific to your borrowing needs.
Repair Your Home, or buy another home that needs work.
Refinance your Home and make Renovations or add a room.
Sorry, can't finish new construction, or loan on manufactured homes.
But, an uncompleted renovation will qualify.
