Renovation Mortgage

Considering renovation? We have the perfect loan option for making your current or new home a dream home!

The LMCU Renovation Mortgage provides a convenient and low-cost way for you to make repairs and renovations to a purchase or refinance of an existing home.


Features

  • Up to 97% financing for eligible borrowers*
  • Renovation funds available up to 75%** of the “after-completion” appraised value of home
  • Funds for improvements are placed into escrow account for disbursement as needed
  • Streamlined builder activation creates faster process with less paperwork

Requirements

To be eligible, renovations must adhere to the following:


Compare Rates

Description Rate APR Points
4.375%
4.460%
0.375
4.250%
4.381%
0.500
3.875%
4.022%
0.375
3.625%
4.863%
0.500
3.750%
4.713%
0.500
3.875%
4.616%
0.500
4.250%
4.996%
0.000
3.750%
4.594%
0.500

Rates as of 02/23/19. Annual Percentage Rates (APR) are subject to change. Your rate may be different depending on your credit profile and home value. All above captioned APR’S reflect a minimum of 5% down payment. Other mortgage programs available, please contact a loan officer at 1-844-754-6280, option 1 for details.


*Multiple renovation options. Up to 97% LTV (Loan-to-Value) is available through the HomeStyle Renovation product. Must meet eligibility requirements. Contact your LMCU loan officer for details. **The 75% is based on the lower of the after-completion value or the purchase price plus renovation costs.


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