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Thomas Bouda
Loan Officer NMLS# 455231

About Me
What is the Renovation Mortgage Program?
Renovation mortgages allow homebuyers/homeowners to purchase/refinance a home plus make improvements.
· One application, one loan approval, one closing and one monthly mortgage payment.
· Financing based on an appraiser’s estimated “After Improved Value” of the property.
· Conventional Homestyle and FHA 203K loan options are available.
· Owner-occupied, second home and investment properties are available.
· Finance homes in most any condition.
· Renovation can be for remodels/repairs/upgrades/square footage additions, accessory dwelling units (ADU)
Who can benefit from Renovation Mortgage Loans?
Homebuyers can:
· Purchase and Renovate less than perfect home where traditional financing is not an option due to the current property “as is” conditions.
· Address property health, safety and code violation problems.
· Finance homes in most any condition and make improvements from basic repairs or upgrades, to extensive additions or renovations
· Owner-occupied, second home and investment properties are available.
· Pay for the improvements over the course of the mortgage term
Homeowners can:
· Remodel, upgrade or expand to enhance the value of their home
· Finance the expense of remodel projects or home repairs
Real Estate Agents can:
· Move hard to sell listings by helping potential buyers envision remodeling possibilities
· Overcome the challenges of selling a home in need of repairs, such as aged homes or fixer uppers.
· Make seller aware of mortgage with renovation financing so they can list their fixer upper “as is” without making any repairs and market this financing option with their listing
· Makes aged properties more marketable to new generation of buyers that are interested in purchasing and remodeling homes.
· Increases the number of potential buyers, sets the agent apart from their competition.
Investors can:
· Purchase a property that is in need of repairs, updates or structural additions.
· Project flexibility – Improvements can range from basic repairs or upgrades, to more extensive additions or remodels
Contractors can:
· Provide their customers with information about mortgages with renovation financing and connect them with a renovation loan specialist
· Customers can move with their project sooner
· Complete the improvements as planned without compromising on budget
Neighborhood civic groups can:
· Promote renovation mortgages to advance community revitalization and beautification projects
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Let’s find the right home loan for you
We have loan options to fit every situation, from down payment assistance programs for first-time homebuyers to government-sponsored programs for military families and rural residents or jumbo loans in high-cost markets.