Buildersadmin2021-04-01T13:01:51+00:00
Mortgage Solutions for Home Renovation & Construction Services
We developed a partnering program specifically for builders to expand your network and increase your sales volume immediately! We know how important it is for our Builder Partners to be aligned with a Mortgage Banker who understands your unique challenges. Our team is well aware how hard you work to find buyers for your properties. This is especially true in today’s market.
This is exactly why our Builder Partners are assigned an exclusive team comprised of Loan Originators and Underwriters, who are available 24/7 to provide funding answers wherever and whenever you should need it.
Still have questions?
Value-added business relationships are a key foundation of our company.
When you entrust Interstate with a renovation or new construction referral, we accept an important and immediate responsibility to be highly responsive in providing expert assistance all the way through the transaction.
If necessary, we will even go onsite to open houses and new development sales launches.
We work hard to find the right financing solution for your buyers while providing you with the peace of mind knowing your dedicated Interstate team is diligently working on your behalf. We understand that no two buyers are alike. At the end of the day, the ultimate goal is to get your buyers qualified and approved as fast as we can.
THE FUTURE OF RENOVATION FINANCING IS FINALLY HERE
RENOVATION FINANCING SOLUTIONS
How they work
Limited 203(k)
- We protect our Contractors: Dual Disbursement so you are guaranteed to get paid
- Up to $35,000 for repairs
- No inspections required if project cost is less than $15,000
- Covers minor/aesthetic repairs (no structural or luxury items)
- NO EQUITY NEEDED!
Standard 203(k)
- We protect our Contractors: Dual Disbursement so you are guaranteed to get paid.
- Structural improvements and major repairs (additions, extensions, electrical systems, plumbing, etc.)
- No price cap on renovation amount so long as it meets county guidelines for FHA Loans
- $5,000 minimum cost of repairs
- Project must be completed within 6 months of closing
- NO EQUITY NEEDED!
- We protect our Contractors: Dual Disbursement so you are guaranteed to get paid.
- Available for 1-4 family homes, eligible condos/PUDs, second/vacation homes, and investment properties
- No restriction on repair type- i.e. luxury items such as pools can be included in cost of repairs
- Does NOT require mortgage insurance if loan-to-value is at or below 80%
- NO EQUITY NEEDED!
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