Buy Your First HomeBuy Your Next Home And Move UpBuy A Vacation HomeBuy An Investment Property
What You Should KnowLoan Programs
Fixed Rate MortgagesAdjustable Rate MortgagesAbout FHA / VA MortgagesHome Repair and RenovationsCondominiumsState Bond ProgramsHome Equity LoansConsolidating DebtLines of Credit
All CalculatorsPrequalification CalculatorMortgage Payment Calculator
Online PaymentsFind a Mortgage ConsultantMortgage BasicsReal Estate Market InformationHomeExpert Market ReportNews & EventsTRID Updates
Mortgage Consultant DirectoryManagement TeamCompany ProfileOur Mission & PrinciplesTestimonialsBerkshire Hathaway HomeServices Fox & Roach RealtorsTrident Land Transfer CompanyTrident Insurance Agency
Home Repair and Renovations

Renovation mortgages offer the opportunity to buy (or refinance) a home, and obtain money for improvements, all with one loan. Great for buyers that want to buy a fixer-upper, or someone who just wants to modernize an older home.

FHA 203(k) Limited: FHA 203(k) Limited loans allow qualified borrowers to finance a repair escrow up to $35,000. This program is designed to facilitate the purchase of homes needing minor repairs. Repairs can include, but are not, limited to the roof, plumbing, HVAC, minor remodeling, appliances, flooring, windows, siding, and more.

FHA 203(k) Standard: FHA 203(k) Standard loans allows more types repairs than the limited, allows a higher budget for the repairs, and requires the use of a 203(k) consultant to help you define the scope of the job and write the specifications. It includes all the repairs allowed for a limited, but it also allows repairs that are more structural, such as foundation repairs, or putting an addition onto a home.

Conventional Homestyle: The Homestyle is a conventional version of the FHA 203(k). The Homestyle has a down payment that is slightly higher than the 203(k)m but the cost of mortgage insurance may be less, and you can also finance investment properties and second homes.


What Our Customers Say

"We bought a home three days before we married, and at the time everyting was hectic. John took care of everything to make the transition from prequalifying through settlement flow smoothly. When we got back from our honeymoon, we found the mortgage approval letter in the mail - very quick and efficient with very little effort on our end. Both of us are very satisfied with the whole buying process. Thank you."

~ G. & P. D.