homestyle renovation
homestyle renovation
homestyle renovation
homestyle renovation
homestyle renovation
homestyle renovation
homestyle renovation

Homestyle® Renovation

Maybe you've found a fixer-upper in the perfect neighborhood. Or you want to update the home you've lived in for years. You see the potential, but aren't sure how to pay for the costs. The HomeStyle Renovation could be your all-in-one solution. This program combines a home purchase or refinance with home improvement financing n one loan with one closing. These funds are used to cover the cost of repairs, remodeling, or renovations to the property.

Eligible –

Health, safety, livability, structural and luxury renovations

+ Must be permanently affixed to the property and add to its value

Work must be done by a licensed bonded contractor

  • Swimming Pools
  • Outdoor Kitchens
  • Landscaping
  • Add-on to home or garage
  • New kitchen/bathrooms
  • New windows, doors, insulation, floor coverings
  • New furnace, central air/heat, hot water heater
  • New built-in appliances
  • Roof replacement
  • Repair structural damage

Ineligible –

No DIY work allowed

  • Conventional loan with as low as 3% down payment – Lower than FHA’s 3.5% minimum
  • Loan amount based on the home’s as-completed value or cost basis
  • Renovations can cost up to 75% of the home’s after-improved value
  • Up to 6 months of payments can be financed if home is uninhabitable during renovation
  • Available for owner-occupied primary residences, second homes, and investment properties

  • Primary residence, second home, and investment properties
  • Maximum loan-to-value (LTV) 95% when allowed for property type
  • Minimum 620 FICO credit score for primary second home

Interested in a Homestyle® Renovation Loan? Contact us today or Get Started here.