Renovation Loan
If you have found a home that needs a little TLC, Provident Mortgage has the financing you need to make home improvements, allowing your dream of a perfect home to come true. Our Renovation Loan allows you to simply roll the costs of repairs or upgrades into the mortgage for the home you are buying.
Features
- Lower down payment required1
- One loan covers the purchase amount plus renovation costs
- Renovation work can begin immediately after closing to get you into your home quickly
- Just one application, one closing, and one monthly payment. It’s Simple!
- Maximum of 6 months allowed to complete renovations
Qualifying Projects
- New construction, such as room additions or adding a second floor
- Foundation or other structural repairs
- Major remodeling that requires structural changes
- Those interested in purchasing a fixer-upper home that’s in need of upgrades, repairs, or larger renovation projects, even if the home is being sold “as is”.
1Two financing options available: FHA with financing up to 97.75% or Fannie Mae with 95% financing