Renovation Loan Programs

Renovation Options can include anything that adds value to the home such as:

• Structural changes including room additions

• Install, repair or upgrade plumbing, electrical or HVAC

• Remodel kitchen and bathrooms

• Roofing repair or replacement

• Repair/Replace/Upgrade well and septic systems

• Paint - interior and exterior, new flooring, new appliances, decks, and fencing

• Weatherization - including storm windows and doors, insulation, weather stripping, etc.

• Accessibility improvements for persons with disabilities

• Elimination of health and safety hazards, termite removal and mold remediation

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Standard - FHA 203k

• Repairs/improvements must be at least $5000

• Primary Residence only - 3.50% Down Payment

• Used to facilitate major repairs and improvements or costs and fees exceeding $35,000

• Consultant required

• Architectural exhibits may be required

• Termite report required

• Purchase or refinance

• Up to six (6) months, PITI can be included if the property cannot be occupied during construction

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Limited - FHA 203K

• No minimum repair amount

• Primary Residence only - 3.50% Down Payment

• Maximum renovation budget of $35,000 in repair costs and fees

• Used to facilitate non-structural repairs and improvements

• No Consultant required

• No Architectural exhibits required

• Purchase or refinance

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Fannie Mae HomeStyle® Renovation

• 5.00% down payment for the purchase of a Primary Residence (3.00% - First Time 
  Homebuyers). 

• Second/Vacation homes and Investment Property options available.

*Renovation funds may not exceed 75% of the "after-completed" value of the home.

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Type of Loan Purchase Loan Refinance Loan Cash Out Equity Loan Debt Consolidation Home Equity

Rate Your Credit Excellent Good Fair Poor Unsure

 

Loan Amount Between $50,000 - $60,000 Between $60,000 - $70,000 Between $70,000 - $80,000 Between $80,000 - $90,000 Between $90,000 - $100,000 Between $100,000 - $120,000 Between $120,000 - $140,000 Between $140,000 - $160,000 Between $160,000 - $180,000 Between $180,000 - $200,000 Between $200,000 - $220,000 Between $220,000 - $240,000 Between $240,000 - $260,000 Between $260,000 - $280,000 Between $280,000 - $300,000 Between $300,000 - $320,000 Between $320,000 - $340,000 Between $340,000 - $360,000 Between $360,000 - $380,000 Between $380,000 - $400,000 Between $400,000 - $420,000 Between $420,000 - $440,000 Between $440,000 - $460,000 Between $460,000 - $480,000 Between $480,000 - $500,000 Between $500,000 - $550,000 Between $550,000 - $600,000 Between $600,000 - $650,000 Between $650,000 - $700,000 Between $700,000 - $750,000 Between $750,000 - $800,000 Between $800,000 - $850,000 Between $850,000 - $900,000 Between $900,000 - $950,000 Between $950,000 - $1,000,000 Between $1,000,000 - $1,100,000 Between $1,100,000 - $1,200,000 Between $1,200,000 - $1,300,000 Between $1,300,000 - $1,400,000 Between $1,400,000 - $1,500,000 Between $1,500,000 - $1,600,000 Between $1,600,000 - $1,700,000 Between $1,700,000 - $1,800,000 Between $1,800,000 - $1,900,000 Between $1,900,000 - $2,000,000 Between $2,000,000 - $5,000,000 Above $5,000,000

Property Value Between $50,000 - $60,000 Between $60,000 - $70,000 Between $70,000 - $80,000 Between $80,000 - $90,000 Between $90,000 - $100,000 Between $100,000 - $120,000 Between $120,000 - $140,000 Between $140,000 - $160,000 Between $160,000 - $180,000 Between $180,000 - $200,000 Between $200,000 - $220,000 Between $220,000 - $240,000 Between $240,000 - $260,000 Between $260,000 - $280,000 Between $280,000 - $300,000 Between $300,000 - $320,000 Between $320,000 - $340,000 Between $340,000 - $360,000 Between $360,000 - $380,000 Between $380,000 - $400,000 Between $400,000 - $420,000 Between $420,000 - $440,000 Between $440,000 - $460,000 Between $460,000 - $480,000 Between $480,000 - $500,000 Between $500,000 - $550,000 Between $550,000 - $600,000 Between $600,000 - $650,000 Between $650,000 - $700,000 Between $700,000 - $750,000 Between $750,000 - $800,000 Between $800,000 - $850,000 Between $850,000 - $900,000 Between $900,000 - $950,000 Between $950,000 - $1,000,000 Between $1,000,000 - $1,100,000 Between $1,100,000 - $1,200,000 Between $1,200,000 - $1,300,000 Between $1,300,000 - $1,400,000 Between $1,400,000 - $1,500,000 Between $1,500,000 - $1,600,000 Between $1,600,000 - $1,700,000 Between $1,700,000 - $1,800,000 Between $1,800,000 - $1,900,000 Between $1,900,000 - $2,000,000 Between $2,000,000 - $5,000,000 Above $5,000,000

 

State Florida North Carolina Virginia

 

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