MFN Realty's Fixer Program

What is the Renovation Mortgage Program?

Renovation mortgages allow homebuyers/homeowners to purchase/refinance a home plus make improvements.

·        One application, one loan approval, one closing and one monthly mortgage payment.

·        Financing based on an appraiser’s estimated “After Improved Value” of the property.

·        Conventional Homestyle and FHA 203K loan options are available.

·        Owner-occupied, second home and investment properties are available.

·        Finance homes in most any condition.

·        Renovation can be for remodels/repairs/upgrades/square footage additions, accessory dwelling units (ADU)

Who can benefit from Renovation Mortgage Loans?

Homebuyers can:

·        Purchase and Renovate less than perfect home where traditional financing is not an option due to the current property “as is” conditions.

·        Address property health, safety and code violation problems.

·        Finance homes in most any condition and make improvements from basic repairs or upgrades, to extensive additions or renovations

·        Owner-occupied, second home and investment properties are available.

·        Pay for the improvements over the course of the mortgage term

Homeowners can:

·        Remodel, upgrade or expand to enhance the value of their home

·        Finance the expense of remodel projects or home repairs

Real Estate Agents can:

·        Move hard to sell listings by helping potential buyers envision remodeling possibilities

·        Overcome the challenges of selling a home in need of repairs, such as aged homes or fixer uppers.

·        Make seller aware of mortgage with renovation financing so they can list their fixer upper “as is” without making any repairs and market this financing option with their listing

·        Makes aged properties more marketable to new generation of buyers that are interested in purchasing and remodeling homes.

·        Increases the number of potential buyers, sets the agent apart from their competition.

Investors can:

·        Purchase a property that is in need of repairs, updates or structural additions.

·        Project flexibility – Improvements can range from basic repairs or upgrades, to more extensive additions or remodels

Contractors can:

·        Provide their customers with information about mortgages with renovation financing and connect them with a renovation loan specialist

·        Customers can move with their project sooner

·        Complete the improvements as planned without compromising on budget

Neighborhood civic groups can:

·        Promote renovation mortgages to advance community revitalization and beautification projects

Call Greg Nichols at 916-580-7235 to discuss properties and your needs or email him at !