Purchase Plus Improvements is the name of this product and this is how it works. You head out with your Realtor to choose the best house for your needs. You write up an offer and bargain your way to the best price. In the meantime, you contact a qualified contractor or other service providers, to get quotes for the work you would like to do. These quotes are provided to the lender as a part of the financing process. The lender reviews and provides the thumbs up.
This product can also be great for people purchasing a brand new home. This is a easy way to get the funds you need to finish the basement or the fencing.