The 6 Advantages of Renovation Loan Financing

Sponsored By CrossCountry Mortgage

New York City’s leading mortgage originator Barry Koven of CrossCountry Mortgage offers mortgage financing, including renovation loans, for co-ops, condos, and houses in New York City.

Created By Brownstoner

Whether you are purchasing a home that needs fixing up or renovating a home you already own, renovation loan financing options can help you create your dream home now and pay for it over time.

It doesn’t matter if it’s a small or large project — CrossCountry Mortgage can help finance your vision. Renovation loan financing creates opportunities for buyers, sellers, and real estate agents that simply do not exist with traditional lending products.

The advantages of renovation loan financing include:

• No minimum or maximum – finance appliances, kitchens, bathrooms, floors, walls, roof, or a complete gut renovation. You can even add another level, an extension to your home, or build a new home!
• Appraised value is based upon the “After Improved” condition of the home.
• Can close without a certificate of occupancy or on a home that does have current violations.
• Can be used for one- to four-family homes, mixed-use, condominiums, and co-ops.
• Use for primary residences, second (vacation) homes, and one-family investment properties.
• Low down-payment options and low-equity programs available.

Get local market expertise with the benefits of a national lender. Contact originating branch manager Barry Koven (NMLS #404510) via phone at 917.597.1330, email at barry.koven@myccmortgage.com or website at crosscountrymortgage.com/Barry-Koven.

[Photos via Unsplash except when noted otherwise]

Equal Housing Opportunity. All loans subject to underwriting approval. Certain restrictions apply. Call for details. All borrowers must meet minimum credit score, loan-to-value, debt-to-income, and other requirements to qualify for any mortgage program. CrossCountry Mortgage, LLC NMLS3029 (www.nmlsconsumeraccess.org). Licensed by the New Jersey Department of Banking and Insurance. Licensed Mortgage Banker – New York State Banking Department.