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Renovation Loans

Turn a Fixer Upper into Your Dream Home

When shopping for a home, you may come across properties that aren’t quite what you’re looking for but have the potential to be your dream home with some repairs or renovations. With a renovation loan, you can roll the cost of financing or refinancing a home and repairs into one loan – saving you time and money.

 

HomeStyle Renovation Loan

You can use a HomeStyle renovation loan to cover costs of repairs, remodels, renovations or energy-efficient improvements on a primary residence, a second home or an investment property. There are no required improvements or restrictions on the types of repairs allowed or a minimum dollar amount for the repairs. However, repairs or improvements must be permanently affixed to the real property, add value to the property, and be completed by a licensed contractor.

Limited 203(k) Rehabilitation Mortgage

In addition to funding your new home, an FHA Limited 203(k) can provide up to $35,000 (including a contingency reserve) in additional funds to help make a few non-structural repairs or renovations such as updating a kitchen or bathroom, adding new flooring, purchasing new appliances, or repairing the roof.

 

Standard 203(k) Rehabilitation Mortgage

If your potential dream home needs more than $35,000 in renovations or the repairs are structural, the Standard FHA 203(k) might be the right solution. This program removes the restrictions of the limited option to allow for major home remodeling. A Standard FHA 203(k) can provide additional funds* to help with eligible repairs including moving or removing walls, minor pool repairs, and landscaping.
*Final disbursement of funds is subject to final inspection

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This site is not authorized by the New York State Department of Financial Services.  No mortgage solicitation activity or loan applications for properties located in the State of New York can be facilitated through this site. Not licensed to originate Reverse Mortgages in the State of New York. 

This is not a commitment to make a loan. Loan terms and conditions are effective as of the date you receive this material and may change without notice. All loans are subject to credit and property approval. Not all products are available in every State or for all loan amounts, programs or credit grades. Other restrictions and limitations apply. Some products and loans require a down payment. There are maximum loan amounts. Developer’s Mortgage Company is an approved HUD Mortgagee and is approved to originate VA loans. Developer’s Mortgage Company is an approved Fannie Mae Seller. Georgia Residential Mortgage Licensee. Illinois Residential Mortgage Licensee. In Illinois Developer's Mortgage Company originates loans under the assumed name "DMC Funding". Licensed by the N.J. Department of Banking and Insurance. Licensed by the Pennsylvania Department of Banking and Securities.  In West Virginia, Developer’s Mortgage Company originates loans under the assumed name DMC Funding Company. Developer’s Mortgage Company is licensed to conduct business in CO, FL, GA, IL, IN, MD, MI, MN, NC, NJ, OH, PA, SC, TN, and TX. Developer's Mortgage Company is not approved to originate or solicit reverse mortgage loans in NC or TN.  Upon license approval in New York, Developer’s Mortgage Company will originate loans under the fictitious name "DMC Funding". *DMC Funding in lieu of true name Developer's Mortgage Company.

Developer's Mortgage Company is located at 2700 E Dublin Granville Road, Suite 460, Columbus, Ohio  43231

 Phone Number (614) 523-0301    NMLS ID# 225548      SM 2022    Developer’s Mortgage Company

Developer's Mortgage Company

Corporate Office:

2700 E Dublin Granville Road, Suite 460

Columbus, OH 43231

P: 844-236-8697

P: 614-523-0301

F: 614-665-6500

info@hladmc.com

 

NMLS CONSUMER ACCESS
NMLS Entity ID #225548
HUD Mortgagee #3836109998
VA #25557
Fannie Mae Seller

2022 All rights reserved.

This site is not authorized by the New York State Department of Financial Services.  No mortgage solicitation activity or loan applications for properties located in the State of New York can be facilitated through this site. Not licensed to originate Reverse Mortgages in the State of New York. 

This is not a commitment to make a loan. Loan terms and conditions are effective as of the date you receive this material and may change without notice. All loans are subject to credit and property approval. Not all products are available in every State or for all loan amounts, programs or credit grades. Other restrictions and limitations apply. Some products and loans require a down payment. There are maximum loan amounts. Developer’s Mortgage Company is an approved HUD Mortgagee and is approved to originate VA loans. Developer’s Mortgage Company is an approved Fannie Mae Seller. Georgia Residential Mortgage Licensee. Illinois Residential Mortgage Licensee. In Illinois Developer's Mortgage Company originates loans under the assumed name "DMC Funding". Licensed by the N.J. Department of Banking and Insurance. Licensed by the Pennsylvania Department of Banking and Securities.  In West Virginia, Developer’s Mortgage Company originates loans under the assumed name DMC Funding Company. Developer’s Mortgage Company is licensed to conduct business in CO, FL, GA, IL, IN, MD, MI, MN, NC, NJ, OH, PA, SC, TN, and TX. Developer's Mortgage Company is not approved to originate or solicit reverse mortgage loans in NC or TN.  Upon license approval in New York, Developer’s Mortgage Company will originate loans under the fictitious name "DMC Funding". *DMC Funding in lieu of true name Developer's Mortgage Company.

Developer's Mortgage Company is located at 2700 E Dublin Granville Road, Suite 460, Columbus, Ohio  43231

 Phone Number (614) 523-0301    NMLS ID# 225548      SM 2022    Developer’s Mortgage Company