Renovation Loans

Finance home improvements into your home loan! Purchase, Refinance & Cash-out options are available. 

  • Owner occupied single-family homes, PUDs, condominiums.
  • Second home 1 unit
  • Investment properties 1-4 unit 
  • Manufactured homes not eligible
  • Maximum loan amount varies by county, call for details

Renovation costs including the contingency reserve must not exceed 15% of the adjusted purchase price (acquisition cost) or the “as completed value” whichever is less. Appraiser will determine “as-is” and “improved value.”

  • The renovation project must be completed within 90 days of closing 
  • Acceptable improvements include:
    • Kitchen update
    • Bathroom update
    • Finishing an incomplete room like a bedroom or an area in a basement
    • Flooring and Painting
    • Updated electrical or new furnace
    • All improvements must be attached to the subject property
    • Improvements may not alter the foundation of the home

*Program not offered in the state of Texas.