Renovation Loans: Turn Your Vision Into Reality
Whether you're dreaming of updating your forever home, restoring a vacation retreat, or transforming a fixer-upper into a valuable investment, renovation loans can make it all possible. At JZ Mortgage, we offer flexible financing options tailored to meet your specific renovation needs. Explore our three main types of home renovation loans to find the right fit for your project.
FHA 203k Renovation Loan
The FHA 203k loan is designed to help homeowners finance both the purchase and renovation of their primary residence. This program is ideal for individuals looking to turn a house into a home with custom upgrades or repairs.
Highlights of the FHA 203k Loan:
- Primary residence only: Exclusively for owner-occupied homes.
- Low down payment: As little as 3.5% down.
- Credit-friendly: Available to borrowers with lower credit scores.
- Flexible use: Covers repairs, upgrades, or even significant structural work.
- Single loan convenience: Combines home purchase and renovation costs into one mortgage.
Conventional Homestyle Renovation Loan
Perfect for those looking to finance renovations on a primary residence, second home, or even an investment property. This option offers greater flexibility and fewer restrictions than government-backed loans.
Highlights of the Conventional Homestyle Renovation Loan:
- Property versatility: Available for primary residences, second homes, and investment properties.
- Higher loan limits: Access more funds for larger renovation projects.
- Customizable upgrades: Use the loan for minor cosmetic updates or major overhauls.
- Competitive rates: Benefit from conventional loan interest rates.
- Single loan convenience: Combines purchase and renovation costs into one mortgage.
Investor Renovation Loans / Fix & Flip Programs
Specifically tailored for investors, these programs allow for the purchase and renovation of investment properties without requiring proof of income. This is a fantastic solution for house flippers and rental property developers.
Highlights of the Investor Renovation Loans / Fix & Flip Programs:
- Investment properties only: Designed exclusively for non-owner-occupied homes.
- No income documentation required: Simplified approval process.
- Flexible financing: Use for purchase, renovation, and resale or rental.
- Quick access to funds: Ideal for time-sensitive projects.
- Scalable solutions: Support for both single projects and portfolio growth.
→ Learn more about our Investor Fix & Flip Programs for additional details on how this solution can empower your investment strategy.
Why Choose JZ Mortgage?
At JZ Mortgage, we are committed to helping you navigate the complexities of renovation loans with ease. Whether you're a homeowner or an investor, our team is here to guide you every step of the way. Contact us today to explore your options and take the first step toward creating your dream home or maximizing your investment potential.
