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RENOVATION LOANS
Create Endless Possibilities

Does your home need an update? With the right team at Fairway Independent Mortgage Corporation, renovation financing can help you improve and update your current home!

Renovation products were designed to promote and facilitate the restoration and preservation of the nation's existing housing stock.
  • The FHA 203K program is designed for existing single-family homes and allows for repairs or renovations in two formats (Limited 203K for non-structural and cosmetic repairs and Standard 203K for major renovation).
  • The FNMA Homestyle loan is used for the same purposes with a few minor differences. The guidelines vary as to the ownership, property type, terms and eligible repair requirements.
  • When you refinance, your loan uses the after-improved value to calculate your new max loan amount, often allowing the new prepaids and closing costs to be included in the loan.
It's important to work with the right professionals to help bring your vision to life. Contact us today to learn more!

Michael Facchini
Branch Manager

 

Copyright © 2018 Fairway Independent Mortgage Corporation. NMLS#2289. 4750 S. Biltmore Lane, Madison, WI 53718, 1-866-912-4800. All rights reserved. This is not an offer to enter into an agreement. Not all customers will qualify. Information, rates and programs are subject to change without prior notice. All products are subject to credit and property approval. Not all products are available in all states or for all dollar amounts. Other restrictions and limitations may apply. Equal Housing Lender. AK License Number 123456. Fairway AZ License #BK-0904162 & Arizona License Number 123456. AR License Number 123456. CO License Number 123456. CT License Number 123456 DE License Number 123456 DC License Number 123456. FL License Number 123456. TX Location: 1800 Golden Trail, Carrollton, TX 75010.

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