There are several types of Home Renovation Loans to choose from, depending on your situation and goals.
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.
These loans are for larger renovation projects and may be structural or non-structural in nature.
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.
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.
Willow Bend’s in-house boutique renovation loan gives us the ability to build a customized conventional renovation program to meet your specific needs.
Curious as to what the home loan process is like with Willow Bend Mortgage? We’ve made it as easy and streamlined as possible. Click through to see our 4 step process.
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