

Home Renovation Loans
A Homestyle renovation loan is a conventional Fannie Mae loan that allows you to purchase and renovate a home or refinance and renovate your existing home. They will allow you to borrow up to 95% of the purchase plus renovations on purchases and 95% of the homes future/post renovation value on refinances. All appraisals on renovation loans are done “subject to repair” meaning the appraised value is determined as if the repairs/remodel have already been completed!
The benefit ….remodeling a home before you move in or renovating your current home borrowing against the homes future value. Even if you recently purchased your home and don’t have a lot of equity, a homestyle loan is likely a perfect fit! This is all done with everything financed in to ONE loan!
Rates? Depending on your credit and the final loan to value, you can expect to get a rate that is only a tick higher than regular conventional financing!
What can you do with a Homestyle Renovation Loan?
Remodel Kitchens, bathrooms, replace flooring, update plumbing and electrical, HVAC, replace windows and roofs, paint, new siding, etc. Or major items such as additions, basement finishes, Garage, ADU’s (mother in law units), repair structural issues.
Realtors
If you have a customer that is upgrading, looking in a specific area (like Park Hill for example) and are looking at older homes in need of “TLC”, this is the perfect loan! Where else can you get the money to purchase and renovate a home with as little as 5% down?!
Product Guidelines
Owner Occupied minimum 5% down
Second Home 10% down
Investors 20% down
Loan Consultant
NMLS ID 379218
Direct 720-907-9216
Mobile 303-668-4499
8400 E. Prentice Ave
Suite 1002
Greenwood Village, CO 80111
tom.yoswa@caliberhomeloans.com