What’s a HomeStyle® Renovation Loan?
A HomeStyle® Renovation loan funds homeowners with a wide range of renovation projects, from repairs and energy updates to landscaping and luxury upgrades. LoanToValue (LTV) is calculated taking the proposed project into account, giving borrowers more purchasing power and more options to make their home their own.
A HomeStyle® Renovation mortgage gives you more flexibility to meet your borrowing needs, the potential to increase purchase and refinance loan opportunities and save repair-contingent deals.
For Qualified Borrowers
- Borrower works with contractor to submit renovation plans
- ‘As completed’ value is determined by Appraiser
- Pay early without penalties
- Limited to $50,000 loan limit
Eligible Properties
- A family home / owner occupied
- A condominium unit
- A manufactured housing unit built on a permanent foundation
HomeStyle® Renovation are being made available in: New Jersey, New York, Connecticut, Maryland, Virginia
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