Turn a House into Your Home with a HomeStyle Renovation Loan
Have you looked at a home in a neighborhood you love, that has the perfect layout, or the spacious yard you've been wanting, but that needs updates or major repairs you're not sure you can afford to make after you buy?
Maybe you're living in a home you love that needs repairs because of a natural disaster, or needs a few updates to accommodate your growing family, but the high interest rate for a home equity line of credit or second mortgage puts renovation costs out of reach?
Well, you're not alone. There are many homebuyers and owners who can see a home's potential, but aren't sure how to pay for renovations. In these situations, a HomeStyle® Renovation mortgage could be the solution.
With a HomeStyle Renovation loan, eligible homebuyers and owners can renovate a home to fit their needs and personal style with just one loan that covers both a mortgage and home improvements.
The HomeStyle Renovation Loan Process
Here’s how our HomeStyle Renovation home loan process works:
- Complete our simple HomeStyle Renovation Loan Qualifier
- Speak to a Homeland Lending Licensed Home Loan Consultant
- Receive options based on your unique criteria and scenario
- Choose the offer that best fits your needs
Why a HomeStyle Renovation Loan?
When you buy or refinance a home, HomeStyle Renovation allows you to finance improvements for up to 75% of the property’s as-completed value. (That’s the appraised value of the home once the upgrades are completed).
This type of financing can be a more cost-effective way to renovate your home, since it combines the cost of the home and renovations into one conventional mortgage.
BENEFITS:
- Fixed and Adjustable Rates
- As little as 3% down-payment for purchase
- Financing can be used for luxury items (pools, landscaping, etc).
- Simplicity of 1 loan, so you only make on monthly payment
HomeStyle RENOVATION LOAN QUALIFIEr