In today’s bustling real estate market, finding a move-in-ready home that fits your budget can seem impossible. However, there is a strategic option for savvy buyers who aren’t afraid to take on a project: Purchase Plus Improvements.

This innovative program empowers homebuyers to borrow additional funds for renovations at the time of purchase, integrating the cost of upgrades into the mortgage. This means you can buy the worst house on the nicest street and transform it into your dream home without relying on high-interest loans or credit cards.

How It Works

1. **Initial Purchase**: Secure an accepted offer for the purchase price of the home.
2. **Improvement Estimate**: Obtain quotes for the renovations you plan to complete.
3. **Include Costs**: The lender adds the estimated cost of improvements to your mortgage amount.
4. **Renovations**: Complete the approved renovations, typically within 90-120 days.
5. **Final Inspection**: Ensure the work meets the agreed-upon standards through a final inspection.
6. **Final Step**: The lender releases the funds so contractors can be paid for the completed work. Some lenders may even consider progressive disbursements as the work progresses.

Advantages of the Purchase Plus Improvements Program

- **Convenience**: Simplify your finances by rolling renovation costs into your mortgage, saving money compared to using a credit card or cashing in investments.
- **Increased Property Value**: Upgrading your home can significantly boost its market value, offering a better return on investment immediately rather than waiting for natural appreciation over the years.
- **Customization**: This program allows you to buy a home needing renovations and customize it to your unique style, especially in markets where finding a move-in-ready home within your budget is challenging.

Don’t be discouraged by homes that seem out of your price range or don’t meet your needs. With the Purchase Plus Improvements Program, you can buy a house on a more desirable street and transform it into your dream home.

As with any mortgage program, the Purchase Plus Improvements Program has its nuances. With our trusted partnerships, we can connect you with a list of mortgage agents who can help you decide if this program fits your needs.

By incorporating this strategic approach, you're not just buying a house—you're making a smart investment in your future. Let's transform challenges into opportunities and turn your real estate dreams into reality. Reach out today to start your journey towards owning the best house on the best street.