My name is Mary Ann Stallings and I facilitate the dream of homeownership. I am a Mortgage Loan Officer with Jet Direct Mortgage and I have been guiding individuals through healthy financial decisions for more than 20 years. (NMLS #1824689)
Jet Direct Mortgage has a department dedicated entirely to Renovation Loans, which may be of particular interest to those in the remodeling industry. These loans (FHA 203k & HomeStyle) are excellent ways for someone to purchase a home in need of repairs and finance the purchase and renovations all in one loan, closing on one loan before the renovations are completed. The way that these loans work is that the available loan amount is based on what the value of the home will be after renovations have been completed, not the current as is value. This can be cosmetic renovations, adding sq. ft. or all the way to a complete tear down. The Jet Direct renovations team will work closely with the contractors during the renovation process.
Renovation loans can be used by individuals looking to purchase a “fixer upper” to turn into their primary residence, current homeowners seeking a way to pay for renovations on their existing home or those seeking to purchase and improve an investment property. The available amount through a Renovation loan can be significantly higher, as it is based on the projected value upon completion of renovations.
Jet Direct Mortgage - Charlotte Branch (NMLS #17366855)
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