New Home Improvement

Does the dream-home you're thinking about buying need some structural repairs in order for you and your family to live in it comfortably? Perhaps you have your heart set on an historic home that needs some refurbishing.

Your community bank has several mortgage products that meet the specific needs of people buying homes that need some updating. Many of these products combine the funds for buying a property and fixing it up into a single loan -- with a single monthly payment.

For more information, complete our online home improvement pre-approval application NOW and a community bank near you will contact you with all of the relevant details. Here are some more ways choosing a community bank works in your favor:

• To protect your home improvement investment, community banks verify contractors' certificates and licenses.
• Typically, lenders, including community banks, require 10-15% of the renovation costs be placed in a reserve fund in order to cover unexpected expenses.
• Borrowers sign a separate rehabilitation loan agreement at closing that spells out how the funds will be used and disbursed to contractors.