April Heath Real Estate Newsletter - Let's Talk Lending
Channel: Heath Real Estate
Date: 2024-04-08

Owning a🏠 is like holding a golden ticket in the game of life! But hey, let's make sure you're playing smart when it comes to financing those dream remodels, new constructions, and all the exciting stuff in between. You deserve a team that's got your back from kickoff to touchdown!

Let's dive into the fun stuff:

1-Sprucing up your space with renovations?

When it's time to jazz up your home, Arjun recommends tapping into what we call a "HELOC" - a home equity line of credit. It's quick to secure, typically taking just a week, with interest rates hovering around 9-10%. Essentially, it lets you borrow against your home's equity while keeping your other assets snug. Plus, your original mortgage stays put, like a loyal sidekick! 💪🐶

2-Eyeing your next dream home but need to sell your current one first?

Picture this: you've found your dream home, but to sell your current one, it needs to be vacant and staged to perfection. Enter the bridge loan💸 ! It's your ticket to owning two homes at once. The equity in your old digs gives you the cash flow for your new place, while you get the time and funds to spruce up and sell your old haunt like a pro!

3-Ready to tackle a fixer-upper project?

Got your eyes on a fixer-upper but not sure how to finance it? First loan, construction loan, or maybe even borrowing from a buddy? Choices, choices! But hold the phone before you jump into a construction loan - those puppies can be pricey 🤦‍♀️! Instead, consider snagging it as your primary residence with a low down payment loan. That way, you can hold onto your cash stash for the real magic - the renovation work! Put down 10% and stash the extra 10-20% for your DIY dreams. 🤯

Remember, this journey calls for patience, a tough hide, time, and a little green. But fear not! With a top notch team by your side, led by the dynamic duo of Arjun and yours truly, consider the home game won! We're here to make the magic happen! 🏡✨