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

  • Obtain renovation funds for up to 50% of the ‘after-completion’ appraised value of the home
  • Up to 75%** financing
  • Funds for improvements are placed into an 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
4.625%
4.679%
0.000
4.375%
4.507%
0.500
4.250%
4.343%
0.000
3.750%
4.799%
0.500
4.000%
4.684%
0.000
4.000%
4.612%
0.500
4.750%
5.533%
0.250
4.250%
5.081%
0.375

Rates as of 06/22/18. 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.


**The 75% is based on the lower of either completion value or purchase price plus cost of improvements.


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