THE ULTIMATE RENOVATION LENDING GUIDE

Why a Renovation Loan?

You don’t have to walk away from that fixer-upper or outdated home. There are many loan options available to create the home you’ve always dreamed of with the house you have! Whether you’re building a new addition* or just remodeling the kitchen, we have the loan program for you.

Types Of Loans

  • FHA 203(k) Standard or Limited Renovation Loans
  • FannieMae’s HomeStyle Renovation Mortgage
  • VA Renovation loans
  • Cashout Refinances
  • These loan options give you the ability to finance the renovation in one of two ways:

    1. Roll it all into the total loan amount of the new home purchase with one loan closing
    2. Leverage your current home equity to fund the project with a cash-out refinance
    The FHA 203(k), VA Renovation loan and FannieMae HomeStyle® loan options let you purchase or refinance with one closing. Here’s how it works: the estimated renovation expenses are put into an escrow account and paid out to the contractor as the construction is complete and inspected.

    Who can benefit from a renovation loan?

    • First Time or Move up Home Buyers
    • Current Homeowners
    • Investment Property Owners

    Which Renovation Loan is right for you?

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    FHA Standard 203(k)

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    FHA Limited 203(k)

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    VA Renovation

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    Fannie Mae HomeStyle®

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    Fannie Mae HomeStyle®