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Renovation Loan Comparison
PURCHASING A HOME or RENOVATING YOUR CURRENT HOME, it doesn’t matter.
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Our Renovation Loan Programs apply.
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For your convenience, below is a comparison chart of our Renovation Loan Types.
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We’re here to help explain how each loan program applies to your specific renovation project.
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Together, we’ll turn that House into your Dream Home!
Single Family Home
(Primary Residence)
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2-4 Unit Properties
(Primary Residence)
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Condos
(Primary Residence)
​
Townhomes
(Primary Residence)
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PUDs (Primary Residence)
​
REO's (Primary Residence)
​
X
​
X
​
​
"3.5% Minimum Down Payment
(Purchase)*"
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"3.5% Minimum Down Payment
(Refinance)**
Home Equity Counts***"
​
"Allowed Gift Funds
(Down Payment & Cost)"
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"Mortgage Amount Based on Lower of:
After Improvement Appraised Value, or
Sales Price + Renovation Cost"
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Up to $35,000 Maximum Renovation Amount
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"Allowable Renovations
Most Minor Renovations/Remodels
Way too many individual project types to list here, but most anything “non-major” in nature that adds value is ok."
Single Family Home
(Primary Residence)
​
2-4 Unit Properties
(Primary Residence)
​
Condos
(Primary Residence)
​
Townhomes
(Primary Residence)
​
PUDs (Primary Residence)
​
REO's (Primary Residence)
​
X
​
X
​
​
"3.5% Minimum Down Payment
(Purchase)*"
​
"3.5% Minimum Down Payment
(Refinance)**
Home Equity Counts***"
​
"Allowed Gift Funds
(Down Payment & Cost)"
​
"Mortgage Amount Based on Lower of:
After Improvement Appraised Value, or
Sales Price + Renovation Cost"
​
No Maximum Renovation Amount, as long as mortgage amount within county FHA loan limits
​
"Allowable Renovations
Most Anything
From major structural issues to new paint to whole room additions to landscaping, most any project type is acceptable.
Single Family Home
(Primary Residence)
​
2-4 Unit Properties
(Primary Residence)
​
Condos
(Primary Residence)
​
Townhomes
(Primary Residence)
​
PUDs (Primary Residence)
​
REO's (Primary Residence)
​
Second Homes (1 Unit)
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Investment Properties
(1 Unit)
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5% Primary Residence
10% 2nd Home/Inv. Prop.
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5% Primary Residence
10% 2nd Home/Inv. Prop.
​
​
Gift Funds Allowed on primary residences, after minimum 3% down payment contribution
​
"Mortgage Amount Based on Lower of:
After Improvement Appraised Value, or
Sales Price + Renovation Cost"
​
Maximum Renovation Amount Up to 50%of the as completed value
​
"Allowable Renovations
Most Anything
From major structural issues to new paint to whole room additions to landscaping, most any project type is acceptable.