renovation home loans

features and details

renovation home loans

features and details

Home improvement and renovation loan programs allow for a variety of situations. Some exclusions apply.

Examples of repairs and renovations:

  • Repair foundation
  • Replace roof
  • Paint interior and exterior
  • Install new flooring
  • Remodel kitchen or bath
  • Upgrade to central heat and/or air
  • Repair termite or moisture damage
  • Energy efficiency improvements
  • Replace or install siding
  • Handicap accessibility
  • Landscaping and/or exterior repairs
  • New built-in appliances
  • And much more!
I'm looking to renovate/remodel my house
I'd like to buy a house, improve it, and roll it all into one loan

Features and Details

  • Allows repair and renovation costs to be rolled into one loan
  • Loan amount can go up to 110% of the “after improved value” from appraisal
  • Close before repair or renovation begins
  • Only one closing.  Funds are disbursed on a draw-basis to the contractor/remodeler after closing as construction is completed
  • Major and minor items are allowed

  • Types of loans
    • Homestyle Renovation ®
      • Primary, secondary or investment
      • 6 months maximum to completion
    • 203K Full and Streamline
      • FHA: Primary only
      • 60 days to 6  months maximum to completion depending on amount borrowed

Home improvement and renovation loan programs allow for a variety of situations. Some exclusions apply.

Examples of repairs and renovations:

  • Repair foundation
  • Replace roof
  • Paint interior and exterior
  • Install new flooring
  • Remodel kitchen or bath
  • Upgrade to central heat and/or air
  • Repair termite or moisture damage
  • Energy efficiency improvements
  • Replace or install siding
  • Handicap accessibility
  • Landscaping and/or exterior repairs
  • New built-in appliances
  • And much more!
I'm looking to renovate/remodel my house
I'd like to buy a house, improve it, and roll it all into one loan

Features and Details

  • Allows repair and renovation costs to be rolled into one loan
  • Loan amount can go up to 110% of the “after improved value” from appraisal
  • Close before repair or renovation begins
  • Only one closing.  Funds are disbursed on a draw-basis to the contractor/remodeler after closing as construction is completed
  • Major and minor items are allowed
  • Types of loans
    • Homestyle Renovation ®
      • Primary, secondary or investment
      • 6 months maximum to completion
    • 203K Full
      • FHA: Primary only
      • 6 months maximum to completion
    • 203K Streamline
      • $35K Maximum renovation amount
      • FHA:  Primary only
      • 60 days maximum to completion