Professional Realtors in Iowa City, IA

Can You Add Renovation Costs to Your Mortgage? As the real estate market continues to experience record-low mortgage and interest rates, higher-than-average prices, and bidding wars, many prospective buyers could become frustrated. This is especially challenging with many sellers receiving higher-than-ask, multiple offers. With competition heating up even in moderately priced regions, another option is pursuing a home renovation or remodelling project. While the most conventional route is a move-in ready or new construction home, other options include fixer-uppers or rehab properties. With both requiring more upgrades, repairs and maintenance, purchasing a home that needs work could be the ticket to your customized dream home. Despite these advantages, some consumers are still hesitant due to uncertainty regarding project scope and affordability. Many often wonder: Is there a way to add the renovation costs of my new home to a mortgage? The short answer is: Yes. Contact us to know more.