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Did you know that one the hottest trends in the Indianapolis housing market today is Home renovation? Everywhere you look there are homes that are in need of either simple cosmetics or a complete makeover. In fact many homes currently listed for sale fail to show well due to some simple repairs or because they simply need updated.
  In addition to the many products in our portfolio, Purchase renovation and Refi renovation are in great demand.
  And for you real estate agents, your commission is based upon the home value after completion of renovation! What a deal!
Purchase Renovation 
The Benefits:
   *No payments during renovation
   *Renovation terms from 6 to 24 months
   *A variety of fixed- and adjustable-rate loan options
   *No restrictions on the types of repairs
   *Interest payments may be tax deductible
   *Loans to $5 million
   *Borrow more money- loan amount based on the after improvements value
Unlike a trditional home loan, Capital Mortgage Solutions Home Renovation Loan is based upon the value of the home after improvements.
One Loan. Two Options.
 1. Purchase Renovation. Your client can purchase a home and make the necessary improvements. When the renovation is complete, the renovation loan becomes a permanent mortgage- all in one transaction! This saves them the hassle of multiple applications and closing costs.
 Perfect for borrowers who:
   *Found a great home that needs a bit of work
   *Want to purchase and renovate their home all in one transaction
 2. Refinance Renovation. Your client can refinance their existing mortgage and make home improvements- all in one loan. With just one application, one set of fees and one closing, they can save time and money to focus on their home renovation project.
 Perfect for borrowers who:
   *Plan on making improvements to their current home
   *Have little equity in their current home
   *Want to refinance their current home mortgage and renovate their home all in one mortgage
   If you have a listing that is in need of repair, or a client that would be interested in the Home Renovation Loan, give us a call. If the repairs are minor and the client is handy they can do the work themselves. If the renovation is extensive, I would be happy to introduce to you, and your client, one of our Preferred Builders.