Renovation loans allow borrowers to complete previously started projects. PHI has been seeing a lot of these types of loans over the last year as borrowers (investors as well as end users) run out of money to complete the work.
The reno loan includes all items needed to finish the project and can be used for purchase or refinance. Payment for previously completed work is generally not allowed.
If you have this type of scenario contact us for a free feasibility to determine the cost to complete.
It’s free, accurate, and emailed to you in 24-48hrs.
