Are you feeling like Chip and Joanna Gaines on HGTV’s hit show, “Fixer Upper”, and think it’s time you updated your own home?   Or, are you frustrated trying to find your dream home in this “seller’s market”, that has left you high & dry, and without a home, because of all the multiple offers you’ve had to endure?  You’ve tried over and over, and cannot find the home you want in the neighborhood you want, because the only homes left need a lot of help?  If any of what we described above sounds like you, then you should consider a RENOVATION LOAN, with New American Funding, to solve your dream home dilemma!

At New American Funding, we have renovation loans to satisfy all the consumer needs, today.  We can refinance your home and make improvements using either an FHA 203K renovation loan (620 minimum credit score), or a conventional “Homestyle” renovation loan (660 minimum credit score).   With the conventional “Homestyle” loan, we can even renovate your 2^nd home (up to 90% combined loan to value). Or, if you are an investor, we can renovate an existing property you own today, or an existing home purchase with at least 20% equity, or down-payment, included in the transaction.  By financing 80% of the value of the home, the investor can save money, reduce his cash flow expense for the repairs, thus, improving his overall ROI (return on investments).

If you cannot find your perfect home, but you’ve found your dream location in a home, take the time to see the possibilities of what that property “could be”, with a renovation loan.  In today’s real estate market, this is also the best way to build equity by buying low, renovating a home, and converting that run-down/out dated home, into your “dream home”!  Talk to your Realtor about renovating a home, learn the possibilities that New American Funding can provide you when you finance this home!  Call Scott Chapman, at 678-770-8743, to discuss making your home ownership dreams come true with a renovation loan!

Have you ever thought, “I wish I could build my own home?”  If so, New American Funding, Inc., can help make that dream come true, with our brand new OTC (One Time Close), VA or FHA, only, home construction loan.

In a nutshell, you would qualify like you would for any VA, or FHA loan; all you need to do is get pre-approved, (call Scott Chapman @ 678-770-8743, or complete your on-line application at his web-page at www.newamericanagent.com/scottchapman), before you go out and find that magical land lot to build your dream home!  If you own your land lot already, the value of the lot can be used towards any monies you would need to bring to closing to cover either down-payment, or closing cost, or both.  If you don’t own your land lot yet, then we can finance the cost of the land lot, and the cost to build the home, together, with our (OTC) one time close, loan!

Once we close this loan upfront, YOU DO NOT HAVE TO BE RE-QUALIFIED when the construction of your home is completed, and the minimum credit score needed is only 620.  There are no payments by the borrower during the Construction of the loan as the builder will carry the cost of building the home, but we finance the build for him/her, and we approve your builder like we approve you by verifying his or her experience level, and financials from the company.   You even have a one-time float-down that allows you the ability to reduce your interest rate when the loan is finalized/modified, and the builder is paid once construction is complete, if interest rates are lower!  After the loan is modified, and your rate is locked in, the loan converts to you, and you start paying on the mortgage once the home has received the C/O, or “Certificate of Occupancy” from the county in which you are building. 

Call Scott Chapman today @ 678-770-8743, to take advantage of purchasing your own land, and building your own dream home, all in one loan called the OTC, or One Time Close, construction loan.