Home Renovation Loans

25 +

Years Of Experience

Renovation Financing

Informed Mortgage LLC

Get Informed on Renovation Financing Options

Are you ready to turn your dream home into a reality, but it needs a little TLC? Informed Mortgage LLC is here to help you unlock the potential of your property with a variety of renovation financing options. We’ve got the expertise and resources to guide you through the journey of transforming a house you like into a home you love.

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What Are Renovation Loans?

Renovation or home improvement loans are designed to provide you with the necessary funds to renovate or repair your property. These loans can be used for a wide range of projects, from minor repairs to full-scale remodels. The amount you can borrow depends on your home's appraised value after the improvements, ensuring that you have the resources needed to bring your vision to life.

At Informed Mortgage LLC, we understand the intricacies of these loans. We'll guide you through the entire process, helping you secure the funds required for your specific project. With our expertise, you can rest assured that you'll have a clear understanding of the terms and conditions associated with your home improvement loan.

Selecting the Right Renovation Loan Option

Choosing the right renovation loan option is crucial for the success of your project. Informed Mortgage LLC is here to simplify the decision-making process. We offer a comprehensive suite of renovation financing solutions, including:

203(K) Standard and Streamline Loans

These Federal Housing Administration (FHA) loans are ideal for those looking to purchase a fixer-upper or refinance their current home while making improvements. The 203(K) standard loan allows for substantial renovations, while the streamline option is perfect for minor repairs.

Fannie Mae Homestyle® Loan

FannieMae's Homestyle loans are conventional options that offer flexibility in funding various renovation projects. With competitive interest rates, these loans can help you transform your property with favorable terms.

Freddie Mac CHOICERenovation® Loan

CHOICERenovation® & CHOICEReno eXpress® allow you to purchase or refinance a home with a single loan and borrow against the future, after-improved value of the property instead of the present value. Both programs are incredibly flexible and can be used in a wide variety of scenarios. If a homeowner has an eye on a fixer upper and wants to turn it into a dream home, it’s likely CHOICERenovation® can help make it happen.

VA Renovation Loan

If you're a veteran or a service member, VA Renovation Loans can be an excellent choice. These loans allow you to roll the cost of renovations into your mortgage, offering convenience and cost-effectiveness.

Repair Escrow

Sometimes, you may need a simple, short-term solution for repairs before you move in. Repair escrow loans can be set up to address these immediate needs while ensuring that the property meets lender requirements.

Our team at Informed Mortgage LLC will work with you to assess your unique needs, financial situation, and renovation goals. We’ll help you select the renovation loan option that aligns with your vision and budget, ensuring a smooth and rewarding process.

Informed Mortgage LLC

Is A Renovation Loan Right For Me?

There are several advantages of home improvement loans:

Enhanced Property Value

Renovations can increase your home's value, making it a sound investment.

Flexible Financing

Renovation loans provide flexibility in terms of project size and scope.

Your House, Your Way

Instead of living with someone else’s design decisions, you can bring your home vision to life once handed the keys.

Potential Tax Benefits

In some cases, the interest on home improvement loans may be tax-deductible.

Informed Mortgage LLC

The Renovation Loan Process

From pre-approval to your dream home, Informed Mortgage LLC will be with you every step of the way. Our goal is to take the stress out of financing and renovating your property, ensuring a smooth and enjoyable experience. Here’s a quick guide on what to expect.

Step 01

Pre-Approval

Connect with a Mortgage Loan Originator to begin pre-approval.

Step 02

Property Search

Work with a real estate agent to find an eligible property and make an offer.

Step 03

Inspections & Contractor Estimates

Get a HUD Consultant inspection and estimates from contractors.

Step 04

Property Appraisal

Appraisal to determine the After-Improved property value.

Step 05

Closing & Renovation Phase

Renovations begin after closing and draws are disbursed to the contractor.

Step 06

Enjoy Your New Home

Finally, move into your dream home.

When it comes to realizing your home improvement dreams, Informed Mortgage LLC is your trusted partner. With our expertise in renovation financing options and dedication to your success, we’re committed to helping you achieve the home you’ve always desired. Contact us today to get started on your renovation journey!

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This discusses potential tax implications, but tax rules vary by individual situation. Consult a qualified tax professional or CPA before making decisions based on tax considerations.