NY – Nassau County no doc o/o 2nd mtg, home improvement or homequity loan
Can anyone help us with a no doc o/o 2nd mtg, home improvement or homequity loan, 677 middle score, Purchased 8/01 SP$223,500 200,000 1st mtg, will appraise as is for $275,000 (already made over 40K in inprovements – gutted & installed new sheetrock & insulation, plaster – skim coated & painted, new master bath, new interior doors, new appliances, updated electric, installed new sod lawn & lawn sprinkler sys, new triple pane windows, refinished hrdwd floors or carpeting, etc. Will appraise for $335,000+ after completion of remaining contemplated improvements (new kitchen cabinets (granite countertops & flooring already on premises), new exterior doors & storm doors, new roof (not leaking), landscaping, new driveway/stoopdriveway, new deck etc. looking for $25 to $50K loan or line of credit…
The property is located in Wantagh, NY (Nassau County). The purpose of the loan is for the additional home improvements
Ken, it is possible we can give him a construction loan that will pay off first mortgage and provide additional $50,000 to complete construction. This is only a construction loan which means you will refinance it with another lender upon completion. We don”t give permanent mortgages.