Renovation Loans

Have you been on the hunt for a home in a particular area? Is finding the right house less important than the perfect location? These could be reasons to consider a Renovation Loan! Just one of our Mortgage product offerings, this loan allows you to purchase an existing house that needs significant renovations before it becomes your home.

You’ve got options.

Refinance Renovation

In this scenario, you can leverage up to 97% of your home’s appraised value to make the changes you’d like a reality.

Purchase Renovation

Buy an existing house and utilize up to 100% of its appraised value to make major improvements before you call it home.

Choose in-house servicing.

We keep decision-making local with in-house servicing of your Renovation Loan. With this option, you can expect BHFCU experts to provide top-notch service.

Straight-forward lending.

While Construction Loans for new properties have an interest-only period, Renovation Loans are much like traditional mortgages. Upon closing, you can access your funds to start renovations. Payments begin upon closing, too.

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