Renovation loans are similar to a cash-out refinance. Since they are usually a first mortgage, all existing liens will have to be paid upon closing. Not all funds may be released at closing but may be held in escrow to be paid out in draws as the work progresses.
6308 Grant St. Suite 200, Hollywood, FL 33024
(954) 534-7745
info@ProgressCapitalLLC.com
Progress Capital, LLC | NMLS# 1626147
Lawrence E. Shafer, CRMS, CVLS, Ph.D
Managing Broker,NMLS# 383119
FL Mort. Loan Originator License #LO-3083;
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