renovation home loans
renovation home loans
Home improvement and renovation loan programs allow for a variety of situations. Some exclusions apply.
Examples of repairs and renovations:
- Repair foundation
- Replace roof
- Paint interior and exterior
- Install new flooring
- Remodel kitchen or bath
- Upgrade to central heat and/or air
- Repair termite or moisture damage
- Energy efficiency improvements
- Replace or install siding
- Handicap accessibility
- Landscaping and/or exterior repairs
- New built-in appliances
- And much more!
Features and Details
- Allows repair and renovation costs to be rolled into one loan
- Loan amount can go up to 110% of the “after improved value” from appraisal
- Close before repair or renovation begins
- Only one closing. Funds are disbursed on a draw-basis to the contractor/remodeler after closing as construction is completed
- Major and minor items are allowed
- Types of loans
- Homestyle Renovation ®
- Primary, secondary or investment
- 6 months maximum to completion
- 203K Full and Streamline
- FHA: Primary only
- 60 days to 6 months maximum to completion depending on amount borrowed
- Homestyle Renovation ®
All loans are subject to credit and property approval. Programs, rates, terms and conditions are subject to change without notice. Not all products are available in all states or for all loan amounts. Other restrictions apply.
Goldwater Bank, N.A. - Mortgage Division | Corporate NMLS# 452955 | Equal Housing Opportunity
Important Information About Opening a New Account Privacy Policy NMLS Consumer Access
Home improvement and renovation loan programs allow for a variety of situations. Some exclusions apply.
Examples of repairs and renovations:
- Repair foundation
- Replace roof
- Paint interior and exterior
- Install new flooring
- Remodel kitchen or bath
- Upgrade to central heat and/or air
- Repair termite or moisture damage
- Energy efficiency improvements
- Replace or install siding
- Handicap accessibility
- Landscaping and/or exterior repairs
- New built-in appliances
- And much more!
Features and Details
- Allows repair and renovation costs to be rolled into one loan
- Loan amount can go up to 110% of the “after improved value” from appraisal
- Close before repair or renovation begins
- Only one closing. Funds are disbursed on a draw-basis to the contractor/remodeler after closing as construction is completed
- Major and minor items are allowed
- Types of loans
- Homestyle Renovation ®
- Primary, secondary or investment
- 6 months maximum to completion
- 203K Full
- FHA: Primary only
- 6 months maximum to completion
- 203K Streamline
- $35K Maximum renovation amount
- FHA: Primary only
- 60 days maximum to completion
- Homestyle Renovation ®
All loans are subject to credit and property approval. Programs, rates, terms and conditions are subject to change without notice. Not all products are available in all states or for all loan amounts. Other restrictions apply.
Goldwater Bank, N.A. - Mortgage Division | Corporate NMLS# 452955 | Equal Housing Opportunity
Important Information About Opening a New Account Privacy Policy NMLS Consumer Access