renovation
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Increase your sales with Renovation financingTRANSCRIPT
Where can tomorrow’s property values improve today’s business prospects?Renovation financing opportunities
Carlos Ramos
Home Mortgage Consultant
NMLSR ID 460046
22
Renovation financing opportunities
Whose opportunities are we talking about?
Yours
Theirs
Ours
3
Renovation financing opportunities
Whose opportunities are we talking about?
Yours — does more for less-than-perfect listings
Theirs
Ours
4
Renovation financing opportunities
Whose opportunities are we talking about?
Yours — does more for less-than-perfect listings
Theirs — makes the decision for buyers with a vision
Ours
5
Renovation financing opportunities
Whose opportunities are we talking about?
Yours — does more for less-than-perfect listings
Theirs — helps make the decision for buyers with a vision
Ours — working together as a business-building team
6
Renovation financing nuts and bolts
What is it?
How does it work?
What are the benefits?
7
What is renovation financing?
It’s financing with all the fixings
The financing to purchase a home
The financing to repair, upgrade or remodel
All in a single first mortgage transaction
Before After
8
How does renovation financing work?
Loan amounts are based on improved property values
Buyers can make improvements right after closing1
Renovation costs are spread throughout the mortgage term
Buyers can enjoy potential tax advantages2
1. Restrictions may apply. Consult a home mortgage consultant for more details.
2. The interest on any portion of credit greater than the fair market value of your buyer’s property is not tax deductible for Federal Income tax purposes. Your buyers should consult a tax advisor regarding
the tax deductibility of interest and charges.
9
What are the benefits of renovation financing? Multiple uses
Ample funds
Suitable selection
Simple process
10
What are the benefits of renovation financing? Multiple uses — for many property types
Ample funds
Suitable selection
Simple process
11
What are the benefits of renovation financing? Multiple uses — for many property types
Ample funds — based on after-improved values1
Suitable selection —
Simple process —
1. The interest on any portion of credit greater than the fair market value of your property is not tax deductible for Federal income tax purposes. You should consult your tax advisor regarding the tax deductibility of interest and charges.
12
What are the benefits of renovation financing? Multiple uses — for many property types
Ample funds — based on after-improved values
Suitable selection — choice of fixed-rate or adjustable-rate financing
Simple process —
13
What are the benefits of renovation financing? Multiple uses — for many property types
Ample funds — based on after-improved values
Suitable selection — choice of fixed-rate or adjustable-rate financing
Simple process — dual purpose, singe loan transaction
14
Example #1
Buyer is a celebrity chef wanna-be:
“Poor lighting, no counter space, outdated appliances...No self-respecting portobello mushroom would be caught dead in this beat-up old kitchen.”
Before After
15
Example #2
Seller is a not-so-handyman:
“What do you mean the plumbing and electrical are not up to code? I upgraded the pipes and
wiring myself!”
Before After
16
Example #3
Buyer knows what shower “stall” really means:
“You’re kidding, right? I have people living here and
this house has only two bathrooms.”
Before After
17
Example #4
Seller was getting around to it:
“Yep, been meaning to paint since ’75. Bought the brush and everything. Careful not to trip on that buckled patio...and watch out for the back door. Sometimes it falls off its hinges.”
Before After
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Renovation financing opportunities recap Positions you as a results-oriented professional
Helps make less-than-perfect listings more marketable
Helps make the decision for buyers with a vision
Helps dreams come true and sales go through
19
Renovation financing team advantages
Regular goal setting and planning sessions
Free preliminary financing consultations
Joint marketing and advertising campaigns
Special Open House marketing materials
2020
Contact information
Carlos Ramos
813-632-2184
www.MortgagesByCarlos.com
NMLSR ID 460046
This information is for real estate professionals only and is not intended for distribution to consumers.
Wells Fargo Home Mortgage is a division of Wells Fargo Bank, N.A. © 2011 Wells Fargo Bank, N.A. All rights reserved. NMLSR ID 399801
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