Episode 07 — The Pond Nobody’s Fishing In
Episode notes
The renovation loan has existed for decades. So why are so few first-time buyers using it—and why are so many overlooking the homes it makes possible? In Episode 7, Skip Schenker begins Part 2 of The Way Home by explaining the financing tool that changes the field of play for buyers who are tired of competing for move-in-ready homes. A renovation loan combines the purchase and renovation funds into one mortgage, allowing a buyer to evaluate an older home for what it can become—not only for what it looks like today. In this episode: • What a renovation loan actually is and how purchase and renovation funds can work together • Why many lenders and real-estate professionals do not offer this option • How after-improved value changes the way a buyer can evaluate an older property • Why the right team matters—from the loan officer to the consultant and contractor • How overlooked listings can become a more attainable path to ownership and equity From The Living House: Chapter 16, “The Prescription: How to Finance a Healthy Home from Day One,” and the Section VII introduction. What to do this week: Visit Ready4Remodel.com and run one address through the V.E.B. tool. Notice what the property reveals when you look beyond its current condition and begin to see its potential. The Way Home is hosted by Skip Schenker and presented with support from Ready4Remodel.com and The Living House.