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
4.875%
4.974%
0.500
4.750%
4.884%
0.500
4.500%
4.612%
0.125
4.000%
5.014%
0.125
4.125%
4.895%
0.125
4.375%
4.887%
0.125
5.000%
5.789%
0.250
4.375%
5.267%
0.750

Rates as of 10/20/18. 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.


*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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