Mortgage and Real Estate Blog

head_left_image

Rehab loans - Don't be afraid

Found a diamond in the rough?
Cambria Mortgage Renovations loans can help in MN, WI, IA,ND, and SD

203k and Homestyle rehab loans

There are many homes in the market that are a diamond in the rough. With a little vision, elbow grease, and a little money, many of these homes can be restored to their former glory, and then some.

Having the money to repair homes, or bring them up to code is just out of the reach of many people. So in steps the two popular rehab loans:

Both loans allow you to both BUY the home, and GET THE MONEY to update, improve, or renovate a home in need of a little TLC all in one easy loan.

You can also use the renovation loans to improve your existing home. 

The best part of the rehab loan for your existing home is that it is based on the FUTURE VALUE of the home (after repairs value), versus a standard home equity loan, which is based on the current value of the home.

Don't be Afraid

Many potential home buyers, and many Real Estate agents shy away from these great loans because of a lack of knowledge and understanding. Just like anything else, once you've done them a few times, you realize they are not as bad as you thought, and can be a great tool to sells homes.

Cambria Mortgage, Joe Metzler

----------------

Equal Housing Lender. NMLS 274132, 322798. Cambria Mortgage lends in the following states: MN, WI, SD, ND, IA, FL, TX, CO, This is not an offer to lend or to extend credit, nor is this a guaranty of loan approval or commitment to lend. The information here may not be up-to-date and may no longer be accurate. Products and interest rates are subject to change at any time due to changing market conditions. Actual rates available to you may vary based upon a number of factors. Consumers must independently verify the accuracy and currency of available mortgage programs. All loan approvals are subject to the borrower(s) satisfying all underwriting guidelines and loan approval conditions and providing an acceptable property, appraisal and title report. (C) Joe Metzler

Comment balloon 1 commentJoseph Metzler • February 20 2020 10:10PM
Rehab loans - Don't be afraid
share
Found a diamond in the rough? Cambria Mortgage Renovations loans can help in MN, WI, IA, ND, and SD There are many homes in the market that are a diamond in the rough. With a little vision, elbow grease, and a little money, many of these homes can… more
Thinking of refinancing? Here is what you need to consider
share
Minneapolis / St Paul, MN: The economy is doing great, and mortgage interest rates are at, or hovering just slightly above all time lows, which has many people thinking of refinancing. Most, but not everyone has a great interest rate, but do you… more
Get a real mortgage rate checkup
share
Get a Real Mortgage Rate Checkup! Minneapolis, MN: Homeowners everywhere are constantly wondering how their existing mortgage interest rate compares to today's market rate, or what a new payment on a new home might look like compared to their… more