Financing a Fixer-Upper in Southern Ocean County

Southern Ocean County Real Estate

The Southern Ocean County real estate market has a number of opportunities in the “fixer-upper” market. This is especially true of homes that are in a short sale or foreclosure salutation. While sometimes the work required is extensive, there are many scenarios where only minor repairs are needed. In either case, the question of Financing a Fixer-Upper in Southern Ocean County can present a challenge for some buyers and therefore it is advisable for all buyers to understand this process and the loan options available.

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Financing a Fixer-Upper in Southern Ocean County

Home renovation loan programs offer the unique features that make FHA loans excellent financing solutions in today’s market such as:

PURCHASE OR REFINANCE
1-4 UNIT PROPERTIES (OWNER-OCCUPIED ONLY)
FHA DOWN PAYMENT (3.5%)
FLEXIBLE CREDIT QUALIFYING
ASSUMABLE LOANS

Home renovation loans can be used for homes that need updates and renovations. Let’s say you just love the house, except for the leaky pipes…or maybe the kitchen is too small. For the house that’s almost perfect a renovation mortgage can be the perfect solution. Essentially a renovation mortgage is a mortgage and home improvement loan all in one that can be used for:

Purchase or refinance
Remodel the kitchen or bath
Renovate or add a room
Paint the house or add siding
Add a porch, deck or patio
Replace a leaky roof
Put in new flooring, carpeting or tiling
Update electrical wiring, plumbing or heating systems
Conserve energy with new windows Plus much more!

Buying a Home in the Southern Ocean County Real Estate Market

It is important to remember to speak with a qualified mortgage professional before making any purchase. Not all loan programs will be available to all buyers and it is for this reason any buyer should fully explore their financial position and take the steps needed to ensure the best loan possible. Financing a Fixer-Upper in the Southern Ocean County Real Estate Market is but one of many different options available and we can help you to understand your options. For more information about Financing a Fixer-Upper in Southern Ocean County please do not hesitate to contact us.

Ocean Sales Team

Fa rrah Pileggi Sales Agent: 201-952-4131

Kim Pileggi Transaction Processor | Nathan Colmer Marketing Agent

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