Renovation Loans

Real Estate

Create Your Dream Home

 

Renovation Loans

 

What is a Renovation Loan?

One loan to purchase or refinance a home and include the costs to renovate, update or remodel your home!

*Remodel and/or upgrades

*Purchase a home "as is" and make repairs after closing, with one loan

*Refinance a home, use funds to pay off existing lien and repairs in one loan

*1-4 units condominiums

Renovation Loans Available

*Conventional Renovation loan (owner occupancy, second home, investment property 5% down)

*FHA 203(K) renovation loan (owner occupancy, 3.5% down)

*FHA 203(k) limited renovation loan (owner occupancy, max repair amount 35K, 3.5% down)

With the Governments latest tax reform limiting mortgage interest deduction to first mortgages up to 750K, and no interest deduction for HELOC loans, this it a great opportunity to buy a fixer no matter what condition the home is in.