You have found your “dream home” that meets all your list requirements…..

except that one area that’s a little tired looking. You just know if you are going to purchase this place, you will be fixing that area immediately.

Welcome to the “Purchase plus Improvements” Program

The main benefits of this Program:

• You won’t have to qualify for a further renovation loan after closing (which is often hard to do).
• Your renovation financing will be the lowest possible, as it is part of your overall mortgage

How does it work:
When you decide to make an offer on a house, make the offer conditional for a longer then normal conditional period because you will need to arrange to have a qualified contractor provide a description, and cost estimate for the renovations. The Contractor’s Estimate and Purchase Sale Agreement documents will both be needed for arranging financing.

For example:
If you purchase a home for $100,000, and require a $10,000 improvement project, the following payout schedule will apply.

*Third advance 45 days after improvement completed. 10% contractor hold back legally required.