Renovation Loans

Renovation Loans2018-10-24T19:04:01+00:00

A Renovation Loan may be right for you if:

  • You’re a first-time or repeat homebuyer; or
  • You want to buy a “fixer-upper” home in a great location and get extra money to renovate it, all with one application, one loan, and one payment each month; or
  • You want to refinance and renovate your current home—again, all with just one loan!

A Renovation Loan Benefits and Features:

  • Purchase a home that is less-than-perfect in a great neighborhood or is a foreclosure, short sale, or other distressed property. Eliminate problems with the property before you move in.

  • A Renovation Loan is a convenient, economical way to make changes with a first mortgage (purchase or refinance), rather than a second mortgage or a home equity line of credit.

  • Examples of renovations, depending on your loan type: kitchen and bath updates, exterior and interior paint, flooring and carpeting, landscaping, roofing and gutters, electrical and plumbing, structural alterations and additions, and swimming pool.

  • FHA 203(k) and Fannie Mae HomeStyle® Renovation Loans are available. Your Academy Loan Officer can help you decide which loan solution will help make your dream home a reality.

  • Other requirements and conditions apply.