An easy and affordable option to finance home renovations.The HomeStyle Renovation loan is a conventional mortgage that lets borrowers finance improvements or renovations to a home. This loan type can be used at the time of purchase, or as a refinance transaction. The HomeStyle Renovation loan allows a variety of renovation projects including inground pools, outdoor kitchens, and saunas. Renovation accessory units such as in-law suites, or basement apartments are also an option.
Borrowers can finance in the renovations and take advantage of competitive rates, which may be lower than a home equity line, a personal loan, or credit card rates.
- Up to 75% of the after-improved value in renovations
- No minimum repair amount
- Includes structural and non-structural improvements or repairs
- Provides accessibility upgrades (ramps, rails, etc.)
- Owner occupied, second home OR investment properties allowed
- Down payments as low as 3% for first-time buyers
- Purchase or refinance
- Cosmetic repairs permitted
- Appliances permitted
- Luxury renovations or repairs allowed
Benefits of a HomeStyle Renovation Loan
The HomeStyle Renovation loan offers several benefits for home buyers.
3% Down Payment For First-Time Home Buyers
The HomeStyle Renovation loan only requires 3% down for first-time home buyers.
Luxury Renovations Included
This loan type allows luxury renovations such as inground pools, outdoor kitchens, and saunas.
No Mortgage Insurance Option
No mortgage insurance is required with a 20% down payment.
Can Be Used For A Variety of Home Purchases
The Homestyle Renovation loan allows financing for owner occupied properties, investment, and second homes.
Your home buying journey begins here.
Ready to get in touch with us? Fill out the form so we can provide a client experience that is unique to your specific needs.
Use our mortgage calculator to estimate your monthly payment.
Do you know how much house you can afford? Use our mortgage calculator to see your estimated monthly payments with different mortgage amounts, interest rates, and down payment amount.
Apply online now with our easy QuickStart App or talk to a licensed
Mortgage Loan Officer to review which loan is the best option for you.
or CALL NOW 866-719-1424
You’re in the driver’s seat, we’re here to help.
Lending Redefined means you can get started on your schedule, in the way that works best for you.
Three great options for starting:
