Need advice - Mortgage plus remodel loans

Hi Folks,

I am looking to buy a decent condition SFH in milpitas around 750K with 15% down, Chase and BOFA do give these loans without PMI or atleast the rates are comparable for 20% down scenario. My question is how to a get loan for remodeling, I am looking to do a quick kitchen and bathroom updates before I move in.

Are there lenders that give out remodelling loan on top of home purchase loan? If so are they 2 separate loans, I heard there is a 203k remodel loan, which banks do these?

My bro owns in Milpitas. That sounds like a pretty good deal since he said his place is probably 1M now.

I would check with Fremont Bank, as I have heard favorable reviews about them as a lender for mortgages. I tend to use a mortgage broker myself. If there were a way to contact me privately, I would give you my mortgage broker’s contact info since she is really, really great at what she does. I have probably the lowest rate of anyone I know - fixed 2.5% (granted 15 yrs but no cost) through her.

Can you share your broker Info here?

I prefer not to for the reason that I would think our fearless founding leader Manch would want this site to be void of blatant advertising by users. If there were the capability for members to privately engage with other members then I see no issue with that. I have asked Manch whether this is something he can add easily or not.

Hey Sfdragonboy, I think we already have it. I messaged you, when I clicked on your name, It gave a button “message me” and I did.

Let me know if you got my message

Except it won’t be advertising. :slight_smile: Genuine helping people out is not really advertising. I am sure other members would like that info too. I know I do!

Now if your broker sent you a case of red wine to thank you for referrals, you must share with us! :smile:

Thanks Manch. Ok, fine, but I will call her first for her blessing. What is she gonna say, no, I don’t want any more business. She has though developed quite a client list through word of mouth referrals primarily. One of my Millbrae friends happened to use her too and it was a mere coincidence. Now, I am assuming ya’ll credit/etc is excellent as she primarily works with clients who generally are very credit worthy (high 700s at the very minimum and have good steady income histories). She likes her job to be easy too. No hangups with loan approvals, etc. For that, you get an advocate and someone who monitors rates for you so that when they come down she probably will call you to see if you want to refi again.