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RENOVATION LOANS ALLOW YOU TO CREATE
THE HOME OF YOUR DREAMS

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“Our growing family was able to buy a home in our dream neighborhood without the markup of a turnkey property. With our HomeStyle Renovation Loan, we bought an older home in need of love and gave it a complete makeover inside and out. We now have our perfect home in a wonderful neighborhood!” – Natalie H.

BENEFITS OF RENOVATION LOANS

The Hagrave Group is extremely passionate about Renovation Loans.  They can help you get into a neighborhood you otherwise couldn’t afford, allow you the flexibility to create a space of your own, and provide an instant equity position from the get go.  Read more about each product to see what opportunities can be created with Renovation Loans.

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TYPES OF 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.
JUMBO RENOVATION

Jumbo Renovation Loans is a non-conventional mortgage that allows you to purchase or refinance both the cost of the home and planned renovations, all under one loan and one interest rate. You are allowed to include the cost of repairs and renovations up to $250,000 or 30% of the as-improved loan amount, whichever is less (including 10% contingency.) This loan is for amounts greater than $417,000.
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 $334,650 in most cases.
FHA 203 K STREAMLINE

The FHA 203K Streamline 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.
EZ - C

EZ-C is an exclusive conventional product that we offer for short term projects of $35,000 or less, combined with conventional loans. Rather than going through a more extensive vetting process with a larger project, clients will see less expensive costs and an easy, streamlined process.
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.
POOL LOANS

Include a luxurious swimming pool and outdoor kitchen with our Pool Loan. This can be included in a refinance or purchase and piggyback off any conventional or jumbo loan. Clients will enjoy one loan, one low rate, and one set of costs.
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WANT TO LEARN MORE ABOUT OUR RENOVATION LOANS?

CONTACT US TODAY!
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

JUMBO RENOVATION

Jumbo Renovation Loans is a non-conventional mortgage that allows you to purchase or refinance both the cost of the home and planned renovations, all under one loan and one interest rate. You are allowed to include the cost of repairs and renovations up to $250,000 or 30% of the as-improved loan amount, whichever is less (including 10% contingency.) This loan is for amounts greater than $417,000.

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 ther perks of FHA financing, including low interest reates, a 3.5% down payment, and less stingent qualification guidelines, however their loan amount will be limited to $334,650 in most cases.

FHA 203 K STREAMLINE

The FHA 203K Streamline 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.

EZ - C

EZ-C is an exclusive conventional product that we offer for short term projects of $35,000 or less, combined with conventional loans. Rather than going through a more extensive vetting process with a larger project, clients will see less expensive costs and an easy, streamlined process.

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.

POOL LOANS

Include a luxurious swimming pool and outdoor kitchen with our Pool Loan. This can be included in a refinance or purchase and piggyback off any conventional or jumbo loan. Clients will enjoy one loan, one low rate, and one set of costs.

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BEFORE

BEFORE

This home in Lakewood received a major makeover both inside and out.
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AFTER

AFTER

This home in Lakewood received a major makeover both inside and out.
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BEFORE

BEFORE

This dated master bathroom was given major upgrades.
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AFTER

AFTER

By improving rooms such as a master bath, homeowners get the biggest bang for their buck.
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BEFORE

BEFORE

This small and poorly configured space was redesigned into a dream kitchen.
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AFTER

AFTER

Functionality and beauty were both achieved in this much needed makeover.
LEARN MORE

469-320-2414 
THEHARGRAVEGROUP@PRIMELENDING.COM 
ERIK HARGRAVE – BRANCH MANAGER NMLS: 319651
5838 LIVE OAK ST., #200, DALLAS, TX 75214 

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*All lender closing costs such as origination, processing, underwriting, and closing will be waived, borrower is still responsible for third party fees such as VA funding, title, and appraisal etc. Down payment waiver is based on VA eligibility. This offer is valid 2/1/2018 – 12/31/19. Savings only applies to direct originations made by PrimeLending for first mortgage purchase or refinance transactions, and is not available on loans obtained through mortgage brokers. Only one offer per loan transaction is available, and savings cannot be combined with any other offer. Savings will reflect on Closing Disclosure at closing. Borrower must lock their loan before 12/31/19.

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