Home Improvement / Property Renovation (Tell us about your project)

• Start by telling us about your project. Our finance team will create financing options based on your monthly payment goals.
   
• Then provide us with enough information to get your loan credit approved
   
• Work with your contractor to provide plans, specifications and bids. We will appraise the plans and submit for final loan approval.
    
• Once your loan closes, the balance owed on the property is paid and work can begin.
   
• As the work is finished, your contractors are paid by drawing against funds held in your construction account. Depending on the project, the draw will be issued under the following schedule:
  
  
  • If the total of the repairs/renovation is less than $35,000
    
    
    • 50% upon closing;  the remaining balance paid upon completion
      
      
  • If the total of the repairs/renovation is over $35,000
    
    
    • Draws are paid as work is completed. In other words, there are no up front funds.
    • Please Note: There is a 10% hold back on each draw, released when the project is finished.