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At their best, LoanOfficers (LOs) should act as financial guides to their customers, helping them see and help surface opportunities that they did not know existed. This is a good option for customers wanting to consolidate high-interest debt or finance homeimprovements.
Many more homebuyers are competing for available houses, and renovations might not be as necessary as they were to sell competitively just a few years ago. Taking the time (and spending the money) to renovate before selling might cause you to miss out on this chance. Keep 2 things in mind if you’re planning to sell this season.
Kitchen and bathroom updates are some of the first ideas that usually come to mind, but you can get great returns from making outdoor renovations and improvements. We talked to real estate and renovation experts to gather their tips and insights on renovation projects for your home’s exterior living space.
Homeimprovements: With a cash-out refinance, you can finally tackle those homeimprovements. No matter whether you want to put a new roof on your home or build an addition, when you refinance, you can free up more cash that can be put toward these renovations. Make a Capital HomeImprovement.
Loan Types and Terms You can opt for the reliable stability of a fixed rate or the potentially lower initial payments with an adjustable-rate mortgage (ARM). Conventional loan programs versus government-backed ones (FHA, VA) offer different benefits to weigh. Get a tax deduction for homeimprovement costs.
Renting puts money into a landlord’s pocket, but owning a home helps you increase the value of your investment over time. When you do build home equity, it opens up cash-out options that can be used for homeimprovements, paying off debt or other projects. Homeimprovement. What Is a HELOC? Emergency funds.
Buyer has full control over homeimprovements and upgrades. Homes frequently increase in value over the life of a mortgage. Home equity also increases your borrowing power. If you are planning to buy, consider what renovations you need to make, in the near term and the future. Process can be complex.
The reverse mortgage process typically begins with a borrower contacting a loanofficer who specializes in reverse mortgages. The loanofficer will assess the homeowner’s eligibility and explain the details of the loan, including the potential loan amount and repayment terms.
Whether you are in town or away on vacation, the world is an unpredictable place so it’s important to take precautions to safeguard your home—your castle. Contact a PennyMac LoanOfficer to explore the refinancing options to fund security upgrades for your home.
That is, until your homerenovation projects start to go down the toilet (or worse, the toilet starts falling through the floor). Buying a vacation home? The rise of homerenovation television shows has made many homeowners eager to transform rough diamonds into neighborhood jewels.
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