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1910 Redmond Ave NE

Renton, WA 98056

Pending

$645,000

Details

3 Beds
1 Bath
Built 1959
1 Stories
6 Spaces
1900 sq ft

Description

Offers being reviewed Wednesday, May 8, 2024.

2.5% Buyer Agent Compensation.

This home located in desirable Renton Highlands will shine with some TLC. We have several programs available that will help renovate this home located on a 1/3 acre lot.

Conventional Renovation Loan:

  • Maximum loan to value is 97% for owner occupied; 90% for second homes and 85% for investment property-purchase or 75% if the investment property is a refinance.
  • Conforming loan limits: $977,500 for King, Pierce and Snohomish County (single family dwelling). NOTE: JUMBO Renovation Loans are available too!
  • 2-4 unit homes available (different loan to values apply) for owner occupied, primary residences only.
  • 1 unit investment property allowed with max LTV of 85%.
  • ADU/DADU's are permitted for owner occupied, primary residences.
  • Licensed contractors and/or subcontractors must be used where licensing is required per state or local regulations for the specific trade or type of renovation that is being completed.
  • Often used for remodel projects and luxury items may be included. Cannot be used for a complete teardown however, One-Time-Close can facilitate this.
  • Allows access to upfront equity based on the after improved value of the home.
  • If repairs/improvements exceed $50,000, then a feasibility study is required.

One-Time-Close Construction Loan:

  • This is a true construction loan that would for a new build of a primary residence from the lot up. A person can already own the land or this can be combined with purchasing the land.
  • Conforming/FHA loan limits: $977,500 for King, Pierce and Snohomish County. VA Loans available. (Jumbo program also available).
  • Eligible property types include 1-unit site-built homes, modular, multi-wide manufactured homes, pre-hab. ADU/DADU permitted WHEN it's part of a 1-unit site-built home.
  • Primary residences and second homes (conventional financing).
  • Builder must be approved with New American Funding.
  • Interest-only payments during construction phase (up to 12 months) which then modifies to a 30-year fixed mortgage.

NOTE: FHA 203(K), VA Renovation Loans and Jumbo One-Time Close loans are also available

Interested in learning more about financing your dream home? Please contact Rhonda Porter.

Reviews

"Rhonda was flexible and helpful throughout the process."

chloe l

"Rhonda was incredibly helpful from start to finsh. She really went the extra mile to make sure we got the best loan to fit the needs of our goals. Very communicative, thoughtful and just great all around. She made this process a breeze, I will definitely recommend her in the future."

grayson l

"Rhonda was kind, patient and highly communicative. She kept us informed and moving without a little of complexity. Love this experience."

kari diane s

"Very easy process. Great communication!!"

brian eugene s

"Rhonda is a problem solver and a great communicator! I appreciate her insight and willingness to help always! This transaction could not have gone more smoothly. Thank you to Rhonda and team for a successful closing and happy Clients!"

matt k

"Very easy process"

renee m w

"Rhonda is just great to work with. Made the process easy."

theodore e w

"Rhonda was a joy to work with! I have never worked with a Mortgage professional that made the process this easy. From the minute we contacted her the first time to the closing of our home, Rhonda was just unbelievable. She understands the market and where rates are likely going. Her experience was invaluable. Her communication was consistent and clear and she was always available for your questions and concerns. I cannot recommend Rhonda highly enough! Plus we got a great rate and mortgage that fit our needs. We will never use anyone else!"

richard d s

"Our experience was personable, clearly communicated, timely, efficient and stress free!"

mackenzie s