Conventional Renovation Rehab Home Loans

Fannie Mae HomeStyle allow for Renovation of an existing home or a new home.

• Minimum FICO Score: 620
• Purchase or Refinance Option.
• Used to Finance Minor Remodeling to Major Repairs, including Structural.
• Fixed Interest Rate.
• 15 Year and 30 Year Terms
• 1-2 Unit Single Family, Manufactured homes, Condos, Townhomes
• Primary residence OR Investment property

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FHA 203K Renovation Home Loans

FHA home mortgage program that allows a person to fix up a new home or an existing home.

• Minimum FICO Score: 580
• Purchase or Refinance Option.
• Used to Finance Minor Remodeling to Major Repairs, including Structural.
• $5,000 Minimum Repair with a Maximum of $35,000
• Fixed Interest Rate
• 10 Year, 15 Year, 20 Year, 25 Year and 30 Year Terms.
• 1-2 Unit Single Family, Manufactured homes, Condos, Townhomes
• Landscaping and Hardscaping allowed.

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Veterans Administration (VA) Renovation Home Loans

Qualified VA Veterans can get a Renovation Loan 

• Minimum FICO Score:  620
• Purchase or Refinance Option.
• Used to Finance minor remodeling and non-structural repairs.
• Fixed Interest Rates.
• 10 Year, 15 Year, 20 Year, 25 Year and 30 Year Terms.
• Single Family, Duplex, Town Homes.
• Primary Residence only.

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USDA / Rural Development Escrow Repair Home Loans

Allows a home buyer to escrow up to 10% of the purchase price for qualified repairs

• Minimum FICO Score: 620
• Purchase only.
• Used to Finance Minor Remodeling, applicances, energy efficient items.
• Maximum repair about of 10% of the purchase price.
• Fixed Interest Rate
• 30 Year Fixed Term.
• 1 Unit Single Family, New Manufactured homes, Condos, Townhomes
• Must meet USDA income and location requirements.

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