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Why would a rich pop star with a new home need a refinance mortgage for upgrades? Let's ponder this. Justin Bieber recently bought his first home. With the kind of money the pop star has, you would think he wouldn't need a mortgage, let alone a home improvement loan. And I imagine he thought the same thing. But imagine this: Justin is just like every other first time home buyer out there. He had a vision of what he wanted in his home when he bought it. Of course where you and I might want 2 or 3 bathrooms, he probably wanted 23 bathrooms. But hey, I learned that from MTV Cribs.
In any case, once Justin settled in, maybe he discovered this amazing home was lacking a few of the amenities he'd hoped for when he bought it. Or maybe his tastes have changed. whatever the case, it might be time for some home improvements. It's likely Justin can handle the costs without batting an eyelash, but maybe he doesn't want to spend his cash. In this case, Bieber can use the refinance mortgage to upgrade where he wants.
Refinancing a home into an FHA 203k would allow a homeowner to pay for all kinds of upgrades in the same monthly payment as the house itself. You get to take advantage of the low interest rate for homes, and it's not a second mortgage like a home equity loan. Here's a look at some of the home improvements Justin Bieber (or you) could pay for with a refinance mortgage:
All joking aside, these projects are all eligible for a refinance mortgage to remodel under the FHA 203k. Learn more about this renovation financing option with "The Complete Guide to Spring Home Improvement Financing" at the button below. This free guide walks you through the process upgrading your home with do it yourself projects and more in-depth remodeling. Get your free copy today and see if your home could use a bit of Justin Bieber-style upgrading.
(Justin Bieber photo credit)
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