Renovation Loans

HOMESTYLE RENOVATION - CONVENTIONAL

The Fannie Mae HomeStyle Renovation Loan is a conventional mortgage that allows you to purchase or refinance both the cost of the home and planned renovations.

FHA 203 K

FHA 203K Loans include the cost of repairs and renovations when that amount is over $34,999 OR there are structural repairs involved (ex. foundation repairs) including a 10-20% contingency. Homeowners and buyers will enjoy the perks of FHA financing, including low interest rates, a 3.5% down payment, and less stringent qualification guidelines, however their loan amount will be limited to $420,680 in most cases.

FHA 203 K LIMITED

The FHA 203K Limited Loan is similar to the FHA 203K but only allows for cosmetic improvements up to $34,999 including a 10% contingency. Again, homeowners and buyers will be able to take advantage of the great terms FHA loans have to offer, but cannot upgrade or repair structural items without jumping up to the full 203k.

ESCROW HOLDBACKS

We offer an extensive suite of escrow holdback products including Buyer and Seller Funded Repair Escrows, Minimum Property Standard Repairs, Weather Related Escrows, USDA Escrow Holdbacks, and HUD REO Escrows. These are all great problem solving tools for buyers and sellers, and can be a quick fix for any transaction.