Renovation Loan and Home Improvement Loan Options
Is your house finally ready to take on that home improvement project you've been talking about, but you don't have the home equity you need? Maybe it's time for your dream kitchen or possibly the sun room off the back of the house this spring. Or, maybe you're looking at a new home purchase, but the property needs a little "TLC" to get move-in ready. Whatever your renovation or home improvement need may be, AmeriFirst is here to help. Granted, we may not be there swinging the hammer or holding a paint brush, but we'll be with you every step of the way for your home improvement loans.
203(k) Loan Information
In the late 1970’s the federal government introduced a loan program to help rehabilitate homes in need. The FHA 203k loan has flown under the radar for years. Now it’s taking flight and becoming a terrific option for various buyers. Foreclosure fixer-upper homes can be renovated with the 203k loan. Homeowners can upgrade and move forward with home improvements with a 203k refinance even when the house has little to no equity. Our renovation section will help give you the resources to understand this government-backed loan program and your options.
Take advantage of the free203k Loan Survival Guide available for download. You can hear from the AmeriFirst 203k Program Director through the AmeriFirst video channel. We also have an entire section full of articles on the 203k and its options. Let us know if we can help cut through the red tape and decide whether the 203k loan program is right for you.
HomePath® Renovation Mortgage
HomePath Renovation Mortgage allows a borrower to purchase a Fannie Mae-owned property that requires light to moderate renovation. The one loan amount includes both the funds for the purchase and renovation - up to 35% of the as completed value, no more than $35,000.
Benefits to the borrower include:
You can download the AmeriFirst HomePath Buyer's Guide for more detailed information.
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