Ready Purchase or Renovate Your First Home or Next Home?

Purchase and Rehab

How Do I Qualify?

Qualifying for a mortgage, investors require that you have a debt-to-income ratio of “43/49.” This means that no more than 43% of your total monthly income (from all sources, before taxes) can go toward your new mortgage payment, and no more than 49.99% of your monthly income can go toward your total monthly debt (including your mortgage payment). VA and FHA loans even allow for higher debt ratios on a case by case basis.

Qualify Now

Renovation Loans!

Renovation loans are used to finance home renovations, repairs, and remodels. Renovation loans are a good option if you want to renovate your current home or want to purchase a home that needs significant remodels. There are several options for renovation loans; two of the most common are FHA 203(k) loans and FNMA Homestyle loans.

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
  • Limited 203(k) Rehabilitation Mortgage
  • Standard 203(k) Rehabilitation Mortgage
  • AVR PRO for acquiring and improving property value

Down payments requirements for fixer-uppers loans Primary Residence
  • Conventional renovation loan: 3% down for first-time homebuyers; 5% down for repeat homebuyers
  • FHA 203k Limited or Standard renovation loan: 3.5% down with a minimum 580 credit score; some lenders may have higher minimums
  • VA renovation loan: 0% down
  • USDA renovation loan: 0% down
Down payments requirements for fixer-uppers for vacation, and investment property
  • Fannie Mae HomeStyle Renovation: 10% down for second homes ; 15% for investment properties
  • ARV PRO: 20% to 25% down with a minimum 650 credit score;

We’re here to make the home loan process easier, with tools and knowledge that will help guide you along the way, starting with a Pre-Qualification Letter Request.

We’ll help you clearly see differences between loan programs, allowing you to choose the right one for you, whether you’re a first-time homebuyer or a repeat buyer.

The Loan Process for Home Purchase

Please follow the steps for our home purchase loan process

  • Complete our simple mortgage Pre-Qualification Letter Request.
  • You will Receive all options based on your unique criteria and scenario
  • Next step is to compare mortgage interest rates and terms
  • Choose the offer that best fits your needs by contacting us via email or phone.

  • Fannie Mae HomeStyle Renovation

    • Fannie Mae HomeStyle is a conventional loan for a fixer-upper. It can be used on a primary residence or vacation, and investment property remodels.

  • Freddie Mac CHOICERenovation

    • It can be used to finance primary home renovations or refinance a mortgage to include renovation money. Like Fannie Mae HomeStyle loans, CHOICERenovation loans may be used for luxury, cosmetic, and structural repairs and remodels.

  • FHA 203k Loans

    • FHA 203k is a fixer-upper loan that can only be used for primary residences. The FHA 203k Limited allows you to finance cosmetic repairs, while the FHA 203k Standard works for structural fixes and remodels. You cannot use an FHA 203k loan to make luxury upgrades to the home, like pools, outdoor barbecue areas.

  • VA Renovation Loans

    • VA renovation loans are a 0% down* loan option for eligible veterans, active-duty service members, and surviving spouses with full entitlement benefits who want to buy and renovate a primary residence. As with FHA 203k Limited loans, VA renovation loans may only be used for non-structural repairs. They may not be used for luxury enhancements or on a vacation home or investment property.

  • USDA Renovation Loans

    • USDA renovation loans are another 0% down option to finance a fixer-upper in rural areas and qualifying suburbs. Like FHA 203k loans, there is a USDA Limited and USDA Standard renovation loan option. The USDA Limited can be used for cosmetic and non-structural repairs.

  • ARV Pro

    • The best short-term solution for acquiring and improving property value.

    Designed for “fix-and-flip” investors who are seeking a short-term, interest-only loan to acquire and improve a property based on its “as repaired value” (ARV).

  • Allows borrowers to finance improvements
  • Great for borrowers who need a quick close.
  • An interest-only 1-year term provides lower monthly payments.
  • A higher LTV than hard money lenders

Renovate Current Home