Home Renovation Financing

Remodeling Your Home Might Be Simpler Than You Think

Qualifying home buyers and home owners can make renovations and additions to their home with one simple loan that covers both the mortgage and the renovation upgrades.

You have several options from which to choose, depending on whether you’re looking to purchase that fixer-upper and create your dream home, or have equity in your current house and would like to make updates. A renovation loan might also be a great solution for qualified home sellers with a less-than-desirable/in need of repair property that may want to make improvements before they sell.

Ready To Get Started?

Fill out the form below and a mortgage professional will get back to you shortly.








− 3 = 5

Depending on the type of loan, you may use your renovation funds for

Kitchens, Bathrooms, Extensions & Dormers, Decks, Porches, Patios, Landscaping, Finishing Basements, Roofing & Gutters, Windows, Doors & Siding, Disability Access, Septic Systems & Wells, Plumbing & Electrical, and so much more!*

get started

What are my options?

  • FHA 203K

    There are two types of 203K loans to choose from—a Streamlined 203k and a Standard 203k. These loans are insured by the Federal Housing Administration (FHA) and may be used for both the purchase or refinance of a home.

    The Streamlined 203K is best suited for non-structural projects such as electrical or plumbing work, bathroom or kitchen remodeling, painting, or getting an HVAC system. You may borrow any amount up to $35,000 for a Streamline. The Standard 203K, on the other hand, is ideal for making extensive structural modifications such as addition of rooms and repairing the foundation, as well as upgrading kitchens, bathrooms, and more. Luxury items are excluded from FHA 203k loans.*

  • Fannie Mae HomeStyle®

    When you purchase or refinance a home, HomeStyle® allows you to finance improvements for up to 50% of the property’s as-completed value. This option allows for a minimum of 5% down, and private mortgage insurance can be canceled once you’ve reached 22% equity. Additionally, luxury items are included in this loan option.*

*Depending on the type of renovation loan you choose, luxury items may or may not be included. Some examples of luxury items include tennis courts, gazebos, pools, jacuzzis, etc. For a full list of qualified repairs, please contact your dedicated mortgage professional.

If you’re unsure about which kind of

home renovation loan suits you best, or if you have any other questions, please feel free to contact us.

First Time Homebuyer’s Guide

Considering homeownership but not sure where to begin? The Meadowbrook Financial Mortgage Bankers Corp. guide to home buying will make the process easy all in one packet.

Recent Articles

A Guide to the Spring Home Buying Season

14 March, 2019

The spring season, more often than not, sees the real estate market buzzing with more activity than usual. For sale signs displayed on posts become…

A Guide to Choosing the Best Mortgage Lender

20 February, 2019

Looking for a mortgage lender that suits your requirements can be a daunting task, given the number of alternatives from which you get to choose.…

3 Smart Ways to Spend Your Tax Refund

18 January, 2019

Before you think about how to use tax refund wisely, consider what’s at stake. Data released by the Internal Revenue Service (IRS) shows that it…