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Understanding Purchase Plus Improvement Program

written by JoseD

Finding the perfect home can be challenging, especially when a property needs some renovations to meet your expectations. The good news is, the Purchase Plus Improvement Program allows you to finance these renovations as part of your mortgage. This solution is perfect for homebuyers who want to customize a property without stretching their budget too far.

 

With as little as a 5% down payment, you can borrow extra funds for improvements and roll them into your mortgage. Imagine being able to update that outdated kitchen, modernize the bathroom, or create a beautiful backyard – all while enjoying the convenience of one affordable monthly payment.

 

 

 Here’s how it works:
Purchase a home that may need some upgrades.
Obtain quotes for the renovations you want to make.
The cost of the renovations is added to your mortgage.
Once the work is completed, your lender inspects the renovations, and the funds are released.
This program is an excellent opportunity for first-time homebuyers and anyone looking to personalize their living space. Plus, renovating your home can increase its market value, providing long-term benefits.
Ready to turn that fixer-upper into your dream home? Contact us today to learn more about how the Purchase Plus Improvement Program can work for you!

Carolina Paredes

 

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