Home Improvement Purchase Mortgage:

HIPM: (adj.) an owner-occupant conforming mortgage that provides financing for the purchase and improvements of a residential property in one application, one mortgage and one payment based on the ‘after-improved value.

Also known as HIFM or Home Improvement First Mortgage when refinancing.

What's the power of a HIPM/HIFM? It's the ability to:

• Turn a house into a dream home
• Buy a new refrigerator, stove, dishwasher, oven, washer and dryer, water heater etc.
• Buy a home that's in the right area but doesn't quite fit your family - yet
• Create an inviting den and entertainment area that draws your family together
• Add extra bedrooms, allowing your kids to stay in the same neighborhood and schools
• Replace your aging roof and furnace with low-cost financing
• Invest in a home that needs some work and resell it

We do this with a permanent mortgage that allows you to purchase or refinance a home and then immediately begin the renovation all with just one application and one closing.