Purchase a home that is less-than-perfect in a great neighborhood or is a foreclosure, short sale, or other distressed property. Eliminate problems with the property before you move in.
A Renovation Loan is a convenient, economical way to make changes with a first mortgage (purchase or refinance), rather than a second mortgage or a home equity line of credit.
Examples of renovations, depending on your loan type: kitchen and bath updates, exterior and interior paint, flooring and carpeting, landscaping, roofing and gutters, electrical and plumbing, structural alterations and additions, and swimming pool.
FHA 203(k) and Fannie Mae HomeStyle® Renovation Loans are available. Your Academy Loan Officer can help you decide which loan solution will help make your dream home a reality.
Other requirements and conditions apply.