Similar to the purchase plus improvements in the way that this product allows you the privilege of borrowing money to do upgrades to your house. This product is really good for people who have owned for a long time and just don't have the extra money to do some badly needed renovations or develop the basement.
You can use the extra money to do the following;
- Build a garage
- Develop your basement
- Put an addition on your house
- New paint
- Renovate your bathrooms
- Renovate your Kitchen
- New flooring
- And much, much more.
Benefits;
- Still eligible for the best rates
- Much cheaper than carrying the debt on credit cards
- Increase your homes value
- I payment including your mortgage instead of many
- Make your home your dream home
This product is especially useful in situations where you cannot exceed 80% of your current properties value due to the lender's restrictions. With this product you can refinance to 80% and then you can increase the mortgage to do renovations allowing you to go above the 80%. In order to exceed the 80% value you need to be able to prove the renovations done will increase the value by enough to keep the mortgage at the 80% once done
Shawn
Mooney |Bayfield Mortgage Professionals Ltd.
Broker
of Record
Your Mortgage Broker for Life
Bus. # 403-945-8769
| Mobile # 403-828-1838
Email: mortgages@shawnmooney.com
Website: www.shawnmooney.com
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