Designed to help you both purchase AND renovate your dream home, this loan type gives you the flexibility you need in one monthly payment. Take the good bones of your new house and turn it into your own paradise with stress-free funding.
- This loan MUST be used to purchase AND renovate your home.
- Also known as a 203(k) loan, we streamline the process to get your project underway faster.
- Minimum 640 credit score.
- 3.5% down payment is required at closing.
If you are looking to buy a fixer upper, our renovation construction loan is perfect for you. Everything, including the cost of repairs is included in a single mortgage with no worries of having to refinance later. This allows you to immediately start on the repairs, meaning you get to move in faster than with traditional funding.
Why Choose Us?
The Benefits
When you get a renovation construction loan, the valuation is based on what the home will be worth AFTER the repairs. Some other benefits include:
- Ability to include permits and fees into the loan
- Contingency reserves
- Have the renovations be covered through the loan rather than financed after closing.
- Fixed interest rates
From the paperwork to the builder review, the process is daunting to many borrowers. That’s why it’s important to work with an experienced lender. We have a dedicated loan officer standing by; there’s no better time to get started on your renovation construction loan.