Buy a Tucson area fixer-upper home with one mortgage.  Tucson has many wonderful communities with many move-in ready, great properties for sale.  But, for some buying a fixer-upper is a labor of love.  It can be quite fun fixing up one’s home, and the completed project has one’s own personal touches.  Many times financing such a project can be tricky.  It may take multiple loans or more cash then one is ready or able to put out.  Now, one can go from drab house to DREAM HOME with one loan.  And, Gregory Richman can help you find that great project in the perfect part of town for you and/or your family.

The HomeStyle Renovation Mortgage provides a convenient way for you to make renovations, repairs, or improvement totaling up to 50% of the as-completed value of the property with a first mortgage rather than a second mortgage, home equity line of credit, or other, more costly financing methods.  This option enables borrower to obtain a purchase transaction mortgage and receive funds to cover the costs of repairs, remodeling, renovations, or energy improvements to the property (think solar, new windows, etc.)!  

This financing is available for owner occupied, second home, or investment property!  Loan limits are $417,000 for 1 unit and $533,850 for 2-unit.  Down-payments as low as 5% are fine!!  The loan is based on the as-completed value of the property.  One can borrow up to 50% of the as-completed value for improvements.  These loans are either 15 or 30 year fixed rate fully amortizing mortgages. This is truly a great financing option for a person looking to acquire and/or improve a home that need improvements.

I’d love to help you find that perfect fixer-upper in the perfect neighborhood, and coordinate the transaction from financing to improvements with you.  Put my expertise and my team to work!  

Check out these fixer-uppers.  There are many other opportunities to buy a fixer-upper in the greater Tucson area at all price points