Renovation Loans
Renovation Home Loan Details
If you are considering purchasing a home that is in need of repair or you would like to do some renovations on that home a Renovation loan is right for you. Not all lenders off this unique product. We are expertly skilled at handling these loans.
- FHA Streamline 203(k)
- An inexpensive way to buy and renovate a home. Allows you to borrow up to $35,000 in additional financing for projects designed to repair, improve or upgrade a single-family property. It can be used to repair or replace electrical, roof, gutter, plumbing, flooring, HVAC, kitchen remodel (nothing structural), painting, both interior and exterior, purchase and installation of appliances, etc.
- HomeStyle
- Can be used to buy and fix up a primary home, second home or investment property. HomeStyle loans have few restrictions on improvements, other than they must be permanently affixed to the real property (either dwelling or land). That means HomeStyle may pay for adding a swimming pool.
- This Conventional Loan can be used to upgrade and repair a home you are purchasing or to turn the home you have into your dream home.
Benefits and Features:
- Combine home purchase and renovation costs in one loan
- Refinance your existing home and finance the cost of improvements into the new loan
To learn more about Renovation loans, give us a call today at (610)351-0428 or email us at jgillespie@traditionalm.com