Home Modernization Program

Mccormack’s M2 Program Now Makes Home Modernization Possible with Little to No Out-Of-Pocket Cost.

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Home Renovation Made Accessible

Have a home renovation project you have been itching to complete? But maybe you don’t want to drain your cash reserves to make it happen? We have a solution.

Our M2 Program enables homeowners to roll high-impact renovations (such as energy efficient roofing, painting, windows and doors etc.) into a single renovation project, which is financed in a way that can actually lower their monthly cost of homeownership!

Minimum Equity Required

3.5%

Available Funds For Renovation

$100,000

Potential ROI on Renovations

100%

What Is M2 Home Modernization?

McCormack and HomeFirst Mortgage Bankers have partnered to create the M2 Home Modernization Program.  This program is designed to help homeowners throughout Southern California upgrade their properties and build equity through exterior renovations– without increasing their monthly cost of home ownership.  Exterior renovations can be for aesthetic and/or energy saving purposes.

A Game Changing Program

As we are all aware, high-impact home renovation projects typically require homeowners to have a large amount of liquid funds available.

For existing homeowners, this can be tough—given that it’s often hard to find a “cash out” refinance program that will allow them to borrow against the future value of their home, post improvements.

For new homeowners, coming up with funds for a major renovation project can be just as tricky, because they are likely stretching their reserves to meet their down payment and other closing cost obligations.

Enter McCormack’s M2 Home Modernization Program! 

Under this unique program, both existing and new homeowners can access the capital they need without having to rely on a lender’s estimate of the future value of their property. 

Modernization Services​

The M2 Program can include any combination of the following services:

To view potential savings from our energy saving roof and solar package, you can view our M2 calculator here.

When you are ready to move forward, please contact us at (714) 777-4040 to schedule your consultation!

Home Modernization Case Study

Equity Impact

Home Value Pre-Renovation:  $830,000

Renovation Budget: $40,000

Home Value Post-Renovation:  $960,000

Added Equity: $90,000

Up-Front Cost to Home Owner: $1,000

Electricity Savings

Electricity Bill Pre-Renovation: $150/month

Electricity Bill Post-Renovation: $20/month

Electricity Savings: $130/month

Financing Impact with M2 Program

Mortgage Principal Pre-Renovation: $600,000

Mortgage Payment Pre-Renovation: $2,864/month

Mortgage Principal Post-Renovation: $640,000

Mortgage Payment Post-Renovation: $2,698/month

Total Monthly Savings Post-Renovation: $296/month

***McCormack’s partner lender offers a MATCH OR BEAT interest rate policy for this program.  This not only gives you access to the greatest possible amount of financing, but the lowest possible rate for your circumstances! See Calculator to evaluate your scenario.

How Our Process Works

1) Project Consultation: Contact McCormack to discuss the scope of your proposed project.  We are interested in hearing from you whether you want to renovate your existing home or renovate a new home you are yet to purchase.

2) Lender Review:  McCormack will turn over your detailed scope of work to its lending partner, who will then qualify you for new mortgage and/or unsecured financing.  Depending on your circumstances and the size of your project, your type of financing will vary. 

4) Specification Selections:  Here you will be able to review specific color and finish options with your McCormack project estimator.

5) Permit Submittal:  Once financing is approved and all specs are selected, we with then be able to obtain HOA approval if necessary and pull permits with your city.

6) Demolition: If required (as can be the case with a new roof system), we will then begin the demolition process, removing the materials that will need to be replace.

7) Woodwork:  If dry rot, warping or another wood-related issue is discovered after demolition of exterior finishes, replacement wood may need to be installed.

8) Modernization Installation:  McCormack’s crews will then install your modernization additions.  This is where you begin to see your home transformed, with the addition of your new roof system, solar array, siding, painting, or other features. 

9) Inspection:  Finally, after your project is installed, it will go through an inspection by a McCormack project manager, as well as your city inspector.

Home Modernization Benefits

Improved Overall Appearance

An upgraded roofing system, exterior wall coverings, windows and doors, can give your home an entirely new look—making your home more aesthetically desirable.

Increased Home Value

Visual upgrades, modern finishes, and energy-producing solar arrays can all add considerable value to your home. Invested properly, your renovation capital can dramatically increase your home equity.

Lower Energy Bills

Better thermal insulation, improved solar reflectivity, and on-site energy production via solar can slash (and potentially eliminate!) your energy bills.