Rehab and Remodeling


Rehab and Remodeling

Financing Your Rehab/Remodel

Whether you’re getting ready to tear down your current home and build a new one, or just looking to update your kitchen, chances are you’ll be looking for a way to finance the project.

"Not one lender I’ve worked with through the years is still at his or her old job – except Kate. It’s because she did it right and still does it right. Construction lending used to be easy. In today’s complex lending environment, only those who truly understand construction finance are able to get deals done. Kate and her team "get it" and they’re willing to work hard for you to get to the finish line. That's who I want on my team!" - Todd Bjerstedt, McDonald Remodeling, 2011 President Builder’s Association of the Twin Cities

If you already own your home, you have options:

  • If you have equity in your property, we can do a Home Equity Line of Credit
  • We can arrange an interim Construction Loan based on the future value of your property once the project is complete
  • We can do a cash out refinance based on the future value
  • We can complete a FannieMae Homestyle refinance
  • We can complete a 203K refinance

Call one of our team members and tell us what you’d like to do. We’ll help you figure out which program is most advantageous for your situation.

Purchase and Renovate with FHA 203K or Fanniemae Homestyle

Perhaps you’re considering purchasing a property that needs some TLC to make it the perfect home for you and your family but you’re concerned about coming up with both the down payment and the money for the necessary repairs.
We have programs such as the FHA 203K or the Fannie Mae Homestyle Renovation Loan that allow you to purchase and get the dollars for the rehab work with just one loan. Read more...

  • A single closing. Purchase and then do the work.
  • Structural and non-structural repairs are allowed.
  • 30 year fixed rate loans.
  • Maximum renovation costs up to 50% of the as completed value of the home under Homestyle.
  • May use up to 110% of the after improved value for 203K maximum loan calculations
  • One general contractor does everything.
  • Up to six months to complete the work.

Call us to see which of these programs is right for you!

Have something a little more ambitious in mind? We can arrange interim construction financing for eligible buyers.

  • Construction to Perm purchase financing to 90% Loan to Value
  • Require a licensed general contractor bid and plans
  • The loan to value will be calculated on the as improved value of the property