Renovation Loans in the Beach Haven West NJ Real Estate Market
Beach Haven West Real Estate
Beach Haven West suffered a direct impact from Hurricane Sandy at the end of October 2012. Sadly, the storm damaged most of the homes in Beach Haven West in one form or another. This created a unique challenge for both buyers and sellers in the Beach Haven West real estate market as conventional home loans are typically not allowed for storm damaged homes. This created the need for special Beach Haven West Rehab Loans that would allow a buyer to purchase a damaged home and obtain financing for the repair or remediation of the home.
By : Nathan Colmer | The Van Dyk Group
Cell: 609-290-4293 | Office: 800-222-0131 | ncolmer@vandykgroup.com
www.beachhavenwestrealestate.com | www.BuyLBI.com
Click here to search all homes for sale in Beach Haven West
Beach Haven West Rehab Loans
This special program allows for the purchase and rehab of a home all in one simple FHA loan. This program offers the unique features that make FHA loans excellent financing solutions in today’s market. For example, this loan is available for both purchases and refinances, it is available for 1-4 family dwellings, there is the FHA down payment requirement of 3.5%, the loan is assumable and credit qualifications are flexible. It is VERY important to remember that not all buyers will qualify for loan products so it is best to speak with a lender to see what options are available for a home purchase or refinance.
For the house that’s almost perfect, a Beach Haven West Rehab Loans can be the perfect solution since a renovation mortgage allows for the purchase and rehab all in one. The funds may be used for things liker:
- Remodel the kitchen or bath
- Renovate or add a room
- Paint the house or add siding
- Add a porch, deck or patio
- Replace a leaky roof
- Put in new flooring, carpeting or tiling
- Update electrical wiring, plumbing or heating systems
Buying a Storm Damaged Home in the Beach Haven West Real Estate Market
Buying a home is a major undertaking and in the Beach Haven West real estate market there are additional challenges. Factors such as flood insurance, proximity to the bay and the condition of a bulkhead all play into the decision as to what constitutes a good and a bad value. Beach Haven West Rehab Loans can open the door to new opportunities so if you have any questions about buying a home in the Beach Haven West real estate market or Beach Haven West Rehab Loans, contact the Beach Haven West Real Estate Group and we will respond right away.
By : Nathan Colmer | The Van Dyk Group
Cell: 609-290-4293 | Office: 800-222-0131 | ncolmer@vandykgroup.com
www.beachhavenwestrealestate.com | www.BuyLBI.com
Click here to search all homes for sale in Beach Haven West