Why pass up a house that needs a little updating when it may be right for you? A Renovation Mortgage with Direct Home Loans allows you to combine the cost of the home with renovation or remodeling costs and finance it all in one loan. We’ll make the process as simple as possible.
At closing, all funds for your renovation will be escrowed in an interest-earning account. And, after all of the renovation work is done, any remaining funds will be used to pay down the principal balance of the loan.
Refinance options are also available with this loan.