Barry Koven is one of the top producing renovation loans specialists. Twelve years ago, Barry made a complete career change into the mortgage business. He has a passion for making homeownership and home renovation dreams a reality.
In this podcast, Barry lets you in on the best-kept secret in the mortgage industry. He talks about what renovation loans are, their advantages over second mortgages and how they often make the most sense.
[00:02:19] How Barry got started in the mortgage industry
[00:03:15] The best-kept secret in the mortgage industry
[00:05:29] Why people should consider a renovation loan over a second mortgage
[00:07:11] How getting a renovation loan works
[00:08:24] How renovation loans look at the future value and usage of the property
[00:09:39] How renovation loans are appropriate for both big and small renovations
[00:12:09] Why are renovation loans not talked about more?
[00:13:48] What can be included in a renovation loan
[00:15:18] Can you choose the contractor?
[00:16:39] Are these loans harder and more complicated to get?
[00:18:53] The importance of working with someone experienced in renovation loans
[00:20:40] How the contractor gets paid
[00:23:39] How renovation loans have the advantage of consumer protection