Have you started a home project, under the impression that you have plenty of cash available to complete it, only to find yourself falling short of funds? While this is not an ideal situation to find yourself in, we have helped several customers who require a renovation loan.
It can be a complex issue to know what type of loan to ask for and what obstacles you will be faced with. This can depend on a variety of factors, such as just how extensive the renovations are, the value of your property, your income levels and just what stage of the renovations you are up to.
Other variances include the amount that you are seeking (there are different rules for lending different amounts), and just who is completing the renovations – yourself, a licensed builder, or sub-contractors.
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