Home Renovation Mortgages
At TR Mortgages, we offer competitive refinance options and home equity lines of credit (HELOC) to help you access up to 80% of your property's value. Whether it's your primary residence, a second home, or a rental property, we have the solutions to support your renovation needs.
Maximizing Your Home Equity
If your home is valued at approximately $400,000, you can access up to $320,000 of the equity. If you still owe $200,000 on your home, you can potentially obtain a HELOC for $120,000 or a new mortgage for the full 80% value, which is $320,000. The rate for a HELOC is typically Prime (3.95%) + 0.50%, and this can often be arranged without altering your existing mortgage or incurring penalties.
Flexible Financing Options
In addition to HELOCs and refinances, we offer secondary and private financing to help you complete your renovations. Sometimes, a quick infusion of cash can enable you to finish your project, boost your property value, and then refinance to repay the second or private mortgage.
Specialized Renovation Financing
For those looking to renovate and flip properties, TR Mortgages provides a specialized flip product. This allows you to purchase an investment property with as little as $10,000 down, making it easier to achieve your investment goals.
Why Choose TR Mortgages for Your Renovation Financing?
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Preferred Rates: Access competitive rates up to 80% of your property’s value.
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No Penalties: Structure financing without impacting your current mortgage.
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Flexible Solutions: Secondary and private financing options tailored to your needs.
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Specialized Products: Investment property flip financing with minimal down payment.
Get Started Today
Unlock the potential of your home with a home renovation mortgage from TR Mortgages.
Contact us today to learn more about how we can help you finance your home improvement projects and maximize your property’s value.
780.340.1482