Renovation Loan

Why a Renovation Loan?

The main benefit of these loans is that they give you the ability to buy or refinance a home in need of repairs with little to no money out of pocket. Typically speaking you need big savings and or equity in a home to pay for renovations, these loans open up possibility to update a home that you might not otherwise have been able to afford. Plus, the down payment requirements are minimal!

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Our renovation loan is designed specifically for your needs

Our renovation loan would be perfect for you to accomplish all your fixer-upper needs! This loan is designed for those who want to purchase or refinance with repairs or improvements having only one loan and one closing.

Please note: All loans are subject to credit, underwriting and property approval. Programs, rates, terms and conditions are subject to change without notice. Other restrictions apply.

Finance up to 95% of appraisal value subject to the home improvements
For loan amounts up to $484,350 or less
Primary residence and 1-unit single family dwellings only
Available with 3/1, 5/1, 7/1, and 10/1 adjustable rate mortgage (ARM) options
Available for 15, 20, and 30-year fixed conventional terms
Cosmetic and structural renovations are permitted
Must have itemized bid, plans, and specifications for the renovation
Renovation must be completed by a licensed general contractor

Type of Renovation

Ready to renovate your home, but not sure where to start? Finding the right loan to fit your needs is the first step in the right direction, and our local loan officers are ready to help you find the perfect home renovation loan.

Improving your current home

If you’re a current homeowner who’s interested in making updates that would enhance the look and layout of your house, a renovation might be the solution. Based on the type and scope of your remodel, we can offer a variety of loans that will help with the cost.

Types of repairs and remodels include:

Room addition
Garage, driveways
Roof & gutters
Plumbing & electrical
Decks, patios, porches
Basement finishing
Doors, windows
Landscape, fencing

For a full list of eligible improvements and considerations, contact Variant Lending Group today.

Renovating for a new home purchase

If you’re a buyer who’s found a home with great potential, but needs some repairs, Variant Lending Group can provide a loan for the purchase and renovation costs. Get money for simple upgrades right up to major improvements. All with monthly payments that may be tax deductible and at rates typically below credit cards or personal loans. We offer a number of loan types that cover minor to major rehabilitation, all included with one mortgage payment.

Why you should choose Variant Lending Group for your Renovation Loan

If you’re a current homeowner who’s interested in making updates that would enhance the look and layout of your house, a renovation might be the solution. Based on the type and scope of your remodel, we can offer a variety of loans that will help with the cost.

Types of repairs and remodels include:

Purchase a home and perform minor repairs (up to $35,000) using our FHA Streamline 203K Loan
Make major renovations to create the home of your dreams using our Standard FHA 203K Loan
We can tackle that luxury home renovation project or backyard makeover using our Fannie Mae HomeStyle Loan
Our 20 years of experience gives us the edge to help our clients… often we help after their banks and credit unions said no.
We will work to find the best option for your situation, based on your family’s goals.

For a full list of eligible improvements and considerations, contact Variant Lending Group today.

Highlights:

Flexible Guidelines
Minimal Down Payments
Some Programs Allow Owner Contractors
Buy & Fix Up to Suit Your Needs

Important Legal Disclosures

Variant Lending Group (Branch NMLS #1977530) is DBA Home Mortgage Alliance Corporation, NMLS #1165808.

Lender License (#MC-6747) and Mortgage Broker #ML-6747 in Virginia.

SML Mortgage Company License and SML Mortgage Loan Servicer Registration, licensed by the Texas Department of Savings and Mortgage Lending.

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