Some houses need work!
It’s a fact of life in any housing market, especially today’s market, homes need major repairs to bring them up to inspection standards. Other homes need a little updating to bring them into the new century. Still others may just need a touch up or style change to meet the buyer’s desires.
A renovation mortgage allows a home buyer to purchase a property and roll the cost of certain home improvements directly into the mortgage loan. This is not a second mortgage or separate line of credit. This is one mortgage, one interest rate and one monthly payment.
Home buyers have several choices when it comes to renovation mortgages. Whether it's your Primary, Secondary home or an Investment property, Goldwater Bank N.A. has a renovation loan for you.
- 203K Streamline/Limited Loan
- 203K Full Loan
- Homestyle Renovation Loan
- HUD Consultants
Click here to start the application process 1-800-281-6446 or email specialtyproducts@goldwaterbank.com
FNMA Homestyle Renovation
- Allows a home buyer to purchase a property and roll the cost of certain home improvements directly into the mortgage loan.
- No requalification or refinancing required upon completion of renovation.
- Energy efficient improvements are eligible
- Borrower can buy a house with potential and turn it to your home with your style.
- Primary, Secondary, Investment Properties
FHA 203k - Streamline/Full
- One loan will refinance or purchase the house with renovation funds included.
- One set of closing fees/one closing!
- Allows a home buyer to purchase a property and roll the cost of certain home improvements directly into the mortgage loan.
- No requalification or refinancing required upon completion of renovation.
- Energy efficient improvements are eligible
- Borrower can buy a house with potential and turn it to your home with your style.
- Primary residence only