Ever wondered if you could use your mortgage for a home renovation? Here is more information about the process and benefits of doing it!
The simple answer is yes! You can use your mortgage for home renovations. In fact, many people do as a way to improve their home before listing their property on the market for sale.
The process is simple and easy. Before listing your home on the market, you can come to Tembo Financial and let us know how much your renovations will be. We can release the funds so that you can begin to repair and renovate your home. Once the renovations and repairs are complete, you can list your home on the market for sale.
The great thing about taking money for a renovation before listing your property for sale, is that you don’t have to make any monthly payments, and Tembo gets repaid from the proceeds of your home’s sale! The sale has the ability to be even bigger than it was going to be originally, because your renovations have increased your home’s overall value!
Renovations and repairs can include and are not limited to:
- Kitchen renovations
- Bathroom renovations
- Any other parts of your home that may need a touch up
Tembo Financial can release money to you within 48 hours of approving an online application so you can start to renovate your home in no time!
Don’t worry, if you are not listing your home, and are still looking to do renovations, we can still help you!