Renovation Financing: Combines the cost of purchasing a home with the funds needed for renovations or repairs in a single mortgage.
Low Down Payment: Requires as little as 3.5% down, making it accessible for buyers looking to improve a property.
Streamlined Process: Two options available—Standard for extensive renovations and Limited for smaller projects—allowing flexibility based on your needs.
Wide Range of Improvements: Funds can be used for various improvements, including structural repairs, modernization, and energy efficiency upgrades.
Ideal for Fixer-Uppers: Perfect for buyers interested in purchasing properties that need some work or updating.
Government-Backed: Insured by the Federal Housing Administration (FHA), providing security for lenders and helping buyers qualify more easily.
Increased Home Value: Renovations can enhance the value of the property, making it a smart investment in the long run.
Professional Oversight: Requires licensed contractors for renovations, ensuring quality workmanship and compliance with local codes.
