I just got back from a meeting with a local mortgage broker, Ken Cook. He let me know about a great sounding program to remedy the situation when you want to move and can’t find that perfect house… with the perfect garage. If you can find the house, he can do a loan that folds in the improvement to the garage (or renovation of the house).
For primary residences, this program will go up to 95% LtV. For investor purposes, 70%.
I’m going to bug Ken until he gets me an article which I will post up here and on GarageHomesUSA.
So, when you are ready we can find that great house, and have the garage built to suit. Or, we might find a house that has a great garage, and we can get the house renovated to suit your needs.
Right now in Gwinnett County there are 144 homes listed with a 4 car or larger garage capacity. One even goes up to 20 cars. Other Georgia counties nearly have similar inventories of garage homes. Ken can help with financing those as well.
He is a car guy, too… 2007 Charger Daytona in Top Banana Yellow. He’s waiting for the Challenger to come out.