Remodeling a home – from renovating a kitchen or bathroom to adding a new room – can be fairly expensive. There are many affordable options available for financing your home renovation project.
Applying for a home renovation loan is very easy. You can apply online now through our WBM Application or contact us to discuss your options with one of our home renovation loan professionals. Below are some of the home renovation loan options that are available to you.
A home renovation loan may be your best option if:
With any one of these loans, you can either include renovation into your original mortgage when purchasing a new home that needs repair, or for your current home that needs renovation, refinance your existing home mortgage with one of these renovation loans included. With a home renovation loan, you get one application, one loan, one interest rate, one closing, and one monthly payment.
These fixed-rate loans are insured by the Federal Housing Administration and cover the cost of major structural or cosmetic repairs and upgrades to your primary residence.
A scaled-down version of the FHA 203K Full, these loans are “Limited” because they only cover non-structural repairs and have a maximum of $35,000, but they are quicker and easier to obtain.
This Fannie Mae program lets you borrow money for structural or cosmetic repairs. These repairs can include foundation repairs, swimming pools, bed and bath remodels or complete interior updates.
Willow Bend’s in-house boutique renovation loan gives us the ability to build a customized conventional renovation program to meet your specific needs.
HUD owned homes listed as Insurable with Repair Escrow (I/E) are able eligible to include up to $10,000 in appraiser required repairs in the home loan.
These loans are for larger renovation projects and may be structural or non-structural in nature.
Getting started is easy. APPLY NOW through our WBM ApplicationTM or search by your location or loan officer name to talk with one of our friendly mortgage experts. We're here to help and answer all of your questions.