Rehab/Renovation Funding

Do you plan on buying a home that needs improvement? Now you can finance both the purchase and renovations with just one loan!

The Purchase & Renovate program features:

• More money. The amount of money you are permitted to borrow for the purchase and renovations is based on the increased value of the home after improvements are made.
• Lower monthly payments. Your renovation costs are spread throughout the entire term of the loan, so your monthly payments may be lower than other financing options.
• Tax deductibility. The interest on the cost of your improvements, included in your mortgage, may be tax deductible.
• Speed. Start making improvements immediately after closing. No need to wait to put in that modern kitchen or new roof. And, no need to pass up a house that’s in the ideal location but needs improvement.
• Simplicity. One application, one set of fees and closing costs, one closing to attend and one payment each month.

Find out more information from Chris Hopkins of
Prosperity Mortgage – Click Here

Visit the Department of Housing and Urban Development
(HUD) 203k Rehab Loan Info Page