Home Renovation Loans

Home Renovation Loan Options

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:

  • You are looking into home improvement ideas
  • You’d like to modernize a kitchen or bathrooms
  • You’d like to renovate your home to fit your lifestyle or family’s needs
  • You’d like to add one or more rooms onto your house

Types of Home Renovation Loans

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.

FHA 203K Standard

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.

FHA 203K Limited

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.

Homestyle®

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 Purchase+

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 REO with Repair Escrow

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.

Jumbo Renovation

These loans are for larger renovation projects and may be structural or non-structural in nature.

How Much Home Can I Afford?

Willow Bend Mortgage

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