Why use a renovation loan?
In this conversation, Jennifer Goldsby discusses the importance and benefits of renovation loans for home buyers, contractors, real estate agents, and lenders. She highlights the challenges in the current housing market, the advantages of using renovation loans to increase buying power, and the role of various stakeholders in facilitating these loans. Goldsby emphasizes the need for education and collaboration among all parties involved to maximize the potential of renovation financing.
Takeaways:
- Renovation loans provide new strategies for home buyers.
- The current housing market is challenging due to low inventory.
- Renovation loans can help buyers afford homes that need work.
- Contractors can benefit from working with renovation financing.
- Realtors can expand their market by promoting renovation loans.
- Lenders should embrace renovation loans as a viable product.
- Home buyers can select their own finishes with renovation loans.
- Renovation loans can save deals that might otherwise fall through.
- These loans help revitalize neighborhoods and communities.
- Collaboration among buyers, contractors, and lenders is essential.
Chapters:
- 00:00 Introduction to Renovation Loans
- 02:51 Understanding the Current Housing Market
- 05:59 Benefits of Renovation Loans for Home Buyers
- 09:12 The Role of Contractors in Renovation Financing
- 12:02 Realtors and Renovation Loans: A New Perspective
- 14:46 Lenders’ Insights on Renovation Financing
