No down payment required Designated rural areas only2 Minimum 620 credit score Finance up tp to $75,000 for repairs and upgrades Non-structural work up to $35,000 (e.g., kitchen, HVAC). Structural work between $35,000 and $75,000 (e.g., foundation, major roof repairs)

No down payment required Up to $50,000 in repairs Minimum 620 credit score 1-4 unit properties Primary residences only

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Q: FHA 203(k) Standard & Limited

Minimum 620 credit score Standard has a minimum renovation amount of $5,000 with no maximum. Limited has no minimum with a $35,000 maximum. No self-help or contractors related to the borrower. Manufactured and on-frame modular homes are not allowed Standard requires the use of a 203(k) consultant and covers major repairs (e.g., structural, altering load-bearing walls, rebuilds with existing foundation). Limited is for non-structural updates (e.g., roof, HVAC, flooring)

Q: HomeStyle® Renovation Mortgage

Purchase or refinance with renovation costs in one loan Maximum LTV is 95% (97% for first-time homebuyers) Minimum 620 credit score No specific requirements or limitations regarding the types of repairs that can be made, nor is there a minimum cost threshold that the repairs must meet No do-it-yourself or manufactured housing allowed

Q: HomeStyle® for Investors

For single-unit investment properties Minimum 15% down payment Minimum 620 credit score All types of renovation allowed, including luxury additions No do-it-yourself or manufactured housing allowed

Renovation Loans Can Unlock Potential

By combining the cost of buying a home with the money needed for repairs and upgrades into a single payment, you can offer qualified borrowers more options and less stress about finding the perfect place.

You could expand your clients' options

The right house in the right location might need work. Renovation loans allow qualified borrowers to transform overlooked properties into dream homes, giving your clients more options to consider.

Homes that fit clients' budget and vision

Qualified borrowers no longer have to choose between a home they can afford and a home they love - they can enhance their home without the immediate financial burden of out-of-pocket renovation costs.

Renovation Loan Options¹

FHA 203(k) Standard & Limited

HomeStyle® Renovation Mortgage

HomeStyle® for Investors

USDA Renovation Loan

VA Renovation Loan

¹For qualified borrowers only. Additional restrictions apply. Reach out to a loan officer for more information. ² Designated rural areas are determined by Rural Development and can be found here

Borrower’s Household Income must not exceed the adjusted annual income threshold. Borrower may only own one other single family housing unit. Borrower must meet all additional requirements of USDA financing.  NOTE :Movement Mortgage is not affiliated, endorsed, or sponsored by the Department of Veterans Affairs, Federal Housing Administration, USDA, or any government agency.

WORK WITH A RENOVATION LENDER YOU CAN TRUST

Not all lenders are created equal, especially when it comes to renovation loans. Movement has dedicated resources for renovation loans to help make sure things go as smoothly and quickly as possible for you and your clients.

Reno Loan Experience

We’ll help your clients find the right renovation loan and guide both of you through the process.

Speed and Agility

We move fast. Movement has a dedicated processing and underwriting team solely focused on renovation products.

Smooth Closings

We do all the hard work up front to help ensure stress-free, on-time closings.

TAP INTO THE POWER OF RENOVATION

Ready to guide your clients through the endless possibilities renovation loans offer? Let’s chat and expand your inventory like never before!

Chad Fleener