How it normally works:
When buying an existing home, there is a program called purchase plus improvements that lenders and insurers support up to a 40K improvement to be added onto the mortgage. This program is becoming more common, but still not utilized well because it is a reimbursement style program, in which you have to carry the construction cost until it is completed and then the lender releases the improvement funds. Often homeowners don’t have the extra funds above the down payment.
How it works with us:
At Canoe Developments we will carry the cost of improvements and then take payment direct from the lender once we have completed the improvement. This alleviates you from having to come up with the improvement carrying cost and allows you to add in the improvements you really want done upfront on your house.
• Canoe Developments will come in and provide the quote within 48 hours to ensure the approval process moves fast.
• Carry the cost of the improvements.
• Order the inspection report.
• This program requires use of approved lenders and lawyer.
Benefits to all:
You get the perfect home and add those improvements you wish you had right off the hop.
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