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Renovation Loan

Finance home improvements and repairs within your mortgage.

Renovation loans provide the financing needed to update or repair your home, whether it's a minor remodel or a major renovation. These loans allow homeowners to customize their space and increase property value without depleting personal savings.

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Renovation Loan Features

Flexible financing options for home improvements.

01
Combine Purchase and Renovation

Allows you to buy and renovate a home with a single loan.

02
Qualification Based on Future Home Value

Loan approval considers the home’s estimated value after renovations are completed, potentially increasing the borrowing amount.

03
Escrowed Funds for Renovation

Funds for renovations are held in escrow and disbursed as work is completed.

04
Variety of Loan Programs

Options include FHA 203(k), HomeStyle Renovation, and more.

Benefits of a Renovation Loan

Customization Without the Upfront Cost

A renovation loan allows home improvements to be spread out over time instead of paying all costs upfront.

Maximize Property Potential

Transform underutilized spaces or update outdated features to create a home that better fits your needs.

Increase Home Value

Upgrades and renovations can boost the overall market value of your home, providing long-term financial benefits.

Streamlined Expense Management

Renovation loans bundle both the purchase and renovation costs into a single loan, simplifying the budgeting and payment process by eliminating the need for multiple financing sources.

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Ready to update your home? A and N Mortgage can guide you through the process, offering personalized solutions for your renovation needs.

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loan FAQ

Loan Program

Frequently Asked Questions

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Some loans will allow you to secure just a 5% down payment plus closing costs. Another option is a piggy-back loan where you get approved for the first and second mortgage to avoid PMI. You could also apply for an FHA loan which only requires a 3.5% down payment.

However, your interest rate will likely be higher, and you will be required to buy private mortgage insurance (PMI).

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Some loans will allow you to secure just a 5% down payment plus closing costs. Another option is a piggy-back loan where you get approved for the first and second mortgage to avoid PMI. You could also apply for an FHA loan which only requires a 3.5% down payment.

However, your interest rate will likely be higher, and you will be required to buy private mortgage insurance (PMI).

Lorem ipsum Text?

Some loans will allow you to secure just a 5% down payment plus closing costs. Another option is a piggy-back loan where you get approved for the first and second mortgage to avoid PMI. You could also apply for an FHA loan which only requires a 3.5% down payment.

However, your interest rate will likely be higher, and you will be required to buy private mortgage insurance (PMI).

Lorem ipsum Text?

Some loans will allow you to secure just a 5% down payment plus closing costs. Another option is a piggy-back loan where you get approved for the first and second mortgage to avoid PMI. You could also apply for an FHA loan which only requires a 3.5% down payment.

However, your interest rate will likely be higher, and you will be required to buy private mortgage insurance (PMI).

Lorem ipsum Text?

Some loans will allow you to secure just a 5% down payment plus closing costs. Another option is a piggy-back loan where you get approved for the first and second mortgage to avoid PMI. You could also apply for an FHA loan which only requires a 3.5% down payment.

However, your interest rate will likely be higher, and you will be required to buy private mortgage insurance (PMI).

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Loan Options

Home Equity Line of Credit (HELOC)

Access your home’s equity with a revolving line of credit.

Learn More

Investment Property Loan

Financing solutions for purchasing or refinancing rental properties.

Learn More

Second Home Loan

Financing options for buying a vacation home or getaway.

Learn More