According to a new report from Land Gorilla, the current housing stock is aging in the U.S. Now nearly 65% of homes are more than 25 years old and many are in need of some sort of repairs or major renovations.
With a limited housing inventory, and home prices rising, you might think potential home buyers are running out of options. But that’s where Sierra Pacific Mortgage’s 203(k) Home Loans come in! 203(k) home loans are empowering local home buyers to renovate their dream home in the location they desire!
What is a 203(k) Home Loan?
If you’ve never heard of 203(k) home loans, they work by borrowing more than the purchase price to allow for financing of the renovations. This means the cost of your upgrades are already baked in to the mortgage!
Photo Courtesy by Bartek Wojtas from Pexels
This can be a game changing option for a lot of buyers who know what location they would like to purchase in but can’t afford a “move-in ready” home.
Home improvement and DIY experts are especially excited for 203(k) home loans as their vision of their dream home can now be a reality. Combined with the improved home value, 203(k) home loans are truly opening the doors for more homeownership opportunity!
If you’re interested in 203(k) home loans, contact me for more information.
What Home Improvement Projects are Most Desired among homeowners?
What Percentage do you fit into? Call me today and see how a renovation loan can benefit you!
**Data pulled from “New Poll Shows Remodeling Desires Remain Strong”; published by Craig Webb, March 9, 2018; Remodeling Magazine, www.remodeling.hw.net.
More about Team Franco
If you're thinking of renovating your home in Nevada, California, Colorado, Arizona or Texas, but are not sure where to begin, give me a call and get a free mortgage quote. I'll help you determine the post-renovation value of your home.
Our team's dedication to helping our clients prove how we stand out from our competition. Read our past client reviews and testimonials here.
I'm here to help- call me today!
Branch Manager & Residential Mortgage Loan Originator
2580 St. Rose Pkwy., Suite #230
Henderson, NV 89074
Office: (702) 420-2250
Fax: (855) 689-6691
Some products and services may not be available in all states. Programs, rates, terms, and conditions are subject to change without notice. Subject to verification of borrower qualifications, property evaluations and credit approval. Terms and conditions apply. This is not a commitment to lend and not all borrowers will qualify. Sierra Pacific Mortgage Company, Inc. may not be the lender for all products offered. Some loans may be made by a lender with whom Sierra Pacific Mortgage has a business relationship. Sierra Pacific Mortgage Company, Inc. NMLS #1788. Nevada Commissioner of Mortgage License #3268. Additional license info available at: www.nmlsconsumeraccess.org. Equal Housing Lender.