How would you like to reduce your housing overhead & increase the value of your home?
Salt Lake City Council just approved a city ordinance allowing mother-in-law accessory units. Imagine turning your current home into a cash flow machine, helping you reduce your overall housing costs, or by building an accessory unit a family member could occupy.
If this is appealing to you, the immediate challenge you may think of is how to finance the accessory unit. We have the perfect solution, which is a thirty year fixed rate mortgage that allows you to completely remodel or rebuild your home. We call it the Existing Home Construction Loan and it is available to residents of Salt Lake City.
This loan program allows you to pay off any existing home loans, and fully finance the construction of the accessory unit and/or remodel your existing home at the same time. Unlike home equity lines of credit, the Existing Home Construction Loan is a fixed interest rate and we lend up to ninety five percent of the after construction home value. That’s right, we lend based on your home’s value AFTER you complete the construction (as determined by a subject to completion appraisal).
Existing Home Construction Loan – Transform Any Home Into Your Dream Home!
- Primary residence, second home or investment properties ok
- Loan amount based on after improved value not current value
- Loan amounts up to $2M
- We work with your contractor to design and finance the home of your dreams
If you have any questions, we would love to hear from you and invite you to call us at 385-355-2130
or fill out your FREE no-obligation consultation at www.existinghomeconstructionloans.com