The Chapa Group
  • Home
  • about us
  • Testimonials
  • Programs
    • Adjustable-Rate Mortgage
    • Conventional Loans
    • FHA Loans
    • Fixed-Rate Mortgage
    • Renovation Loans
    • Reverse Mortgages
    • USDA Loans
    • VA Loans
    • Officer Connection Program
    • Teacher Appreciation Program
  • Our team
  • Contact US
  • Home
  • About Us
  • Testimonials
  • Our team
  • Loan Programs
    • Adjustable-Rate Mortgage
    • Conventional Loans
    • FHA Loans
    • Fixed-Rate Mortgage
    • Renovation Loans
    • Reverse Mortgages
    • USDA Loans
    • VA Loans
    • Officer Connection Program
    • Teacher Appreciation Program
  • Contact us


Renovation Loans

When shopping for a home, you may come across properties that aren’t quite what you’re looking for but have the potential to be your dream home with some repairs or renovations. With a renovation loan, you can roll the cost of financing or refinancing a home and repairs into one loan – saving you time and money.

Renovation Loan Programs

HomeStyle Renovation Loan 
You can use a HomeStyle renovation loan to cover costs of repairs, remodels, renovations or energy-efficient improvements on a primary residence, a second home or an investment property. There are no required improvements or restrictions on the types of repairs allowed or a minimum dollar amount for the repairs. However, repairs or improvements must be permanently affixed to the real property, add value to the property, and be completed by a licensed contractor.

Limited 203(k) Rehabilitation Mortgage
In addition to funding your new home, an FHA Limited 203(k) can provide up to $35,000 (including a contingency reserve) in additional funds to help make a few non-structural repairs or renovations such as updating a kitchen or bathroom, adding new flooring, purchasing new appliances, or repairing the roof.
​
Standard 203(k) Rehabilitation Mortgage
If your potential dream home needs more than $35,000 in renovations or the repairs are structural, the Standard FHA 203(k) might be the right solution. This program removes the restrictions of the limited option to allow for major home remodeling. A Standard FHA 203(k) can provide additional funds* to help with eligible repairs including moving or removing walls, minor pool repairs, and landscaping. 
*Final disbursement of funds is subject to final inspection.

    TELL US ABOUT YOUR FINANCING NEEDS

Submit

Our Location

Directions
78370 Hwy 111 #200  La Quinta, CA 92253
   Ph: 760.660.4696
Quick Links

Home
About Us
Loan Programs
Home Buyer's Guide
Mortgage Calculator
Mortgage blog
​Disclaimer
Legal Disclosure
Privacy Policy
Terms of Use

    Contact Us

Submit
Picture
Picture
​Mike Chapa NMLS #259004 - Email
Bidi Gonzalez NMLS #277063 - Email

Complaints may be directed to: (877) 699-0353 or by Email

​Licensed by the Department of Business Oversight under the California Finance Lenders Law. Loans made or arranged pursuant to a California Finance Lenders Law License.  FIMC NMLS #2289

Follow Us

© 2018 Fairway Independent Mortgage Corporation
NMLS #259004
78370 Hwy 111 #200  La Quinta, CA 92253  760.660.4696
Website Powered By BSocial Media Management 

  • Home
  • About Us
  • Testimonials
  • Our team
  • Loan Programs
    • Adjustable-Rate Mortgage
    • Conventional Loans
    • FHA Loans
    • Fixed-Rate Mortgage
    • Renovation Loans
    • Reverse Mortgages
    • USDA Loans
    • VA Loans
    • Officer Connection Program
    • Teacher Appreciation Program
  • Contact us
Website by BSocial Media Management