Did you know that if you are awarded a Federal grant to elevate and improve your property to protect it from flooding, you must pay for the improvements and wait for reimbursement?
If you need to elevate your home, relocate utilities, or add other flood mitigation measures to reduce the risk of flood damage and lower your flood insurance premiums this may be your best option!!
A Renovation Loan is a great option to mitigate flood damage exposure.
- Available by FHA or FNMA agencies
- Loan based on As-Completed Home Value
- Great for Owners who have Equity but no Cash
- Opportunity for Buyers to improve ‘New Home’
- The Lender vets the contractors then pays them directly as the work is completed.
The following is a perfect example of a local homeowner enjoying the benefits of putting this loan to work for them.
“A Marshfield Home Owner used a Renovation Loan to change the layout of their multi-level home. By eliminating the lower level and expanding the upper level, they were able to reduce their flood insurance significantly. More importantly, their home is now much less likely to flood, and they got a new kitchen as well!”
Please contact Megan Coleman to assist you through the entire process.
Megan Coleman | Senior Loan Officer |
Helping Hands Community
Partners, Inc. NMLS# 1165962
A 501(c)(3) self-funded nonprofit charitable organization
NMLS License# MLO7946
40 Accord Park Dr Ste 203 | Norwell, MA 02061
Direct/Cell: 774-217-5339
MColeman@hhcp.org
