Renovation / Construction Loans
Trying to decide how to finance your ADU, renovate your house, or looking for construction money, look no further.
A&D Lending brings you a unique type of loan that structure like home equity loans, but have the borrowing power of renovation loans like construction loans, FHA 203ks, and Fannie Mae Homestyle renovation loans. Renovation Loan lets you borrow based on your home’s after renovation value without the need to refinance your first mortgage. In fact, this type of loan can increase your borrowing power by more than 11x. The only renovation loan that doesn’t require you to refinance and it’s the only one that doesn’t require funds to be disbursed to the contractor through a messy inspection & draw schedule process.
Loan Highlights
– Does NOT require you to refinance your first mortgage, meaning you can keep your low rates and avoid restarting the clock on your mortgage.
– 10 to 20-year terms, rates are typically the same as a traditional home.
– Equity loan or lines of credit.
– Borrow up to 90% of AFTER renovation value or 125% of current value.
– Full loan amount distributed at closing.
– Because the loan doesn’t require you to refinance your mortgage, you’ll likely pay much less in closing costs.
– Loan Amount: You can borrow $20k to $500k
– Rate Terms: Fixed rate or Interest Only
If you are not sure which loan is the right product for you our representatives will help you to choose one.
Home Improvement Loans
As a homeowner, you can apply for home improvement loans for a variety of reasons, including remodeling, updating or making repairs to your home. Loans can be issued for anything as simple as a roof repair, an update to an energy-efficient furnace or a new addition. These types of loans usually do not need collateral and can be funded in less than 10 days.
Loan Highlights
– Fixed rate and fixed monthly payment
– Terms: up to 15 years fixed loan
– Rates are lower than credit cards
– Minimum credit score 680
– No Collateral needed
Please contact A&D Lending account executive to provide more details on this product.