Home Loan Programs Construction & Renovation

Construction and Renovation Programs

 
Construction and Renovation Loans can seem overwhelming when it comes to all of the draw schedules, inspections, appraisals, contractors, subcontractors, and loan requirements.
Corridor Mortgage Group offers simple yet complete solutions to assit you acheive your dreams.
 

Renovation Loans

FHA 203(k) Streamlines
  • Up to $35,000 in non-structural repairs (no minimum repair required)
  • No reserves required at closing (for 1-2 unit properties)
  • Eligible repairs and upgrades include, but are not limited to: windows, doors, HVAC system, roof, plumbing, electric, paint, appliances, kitchen counters, cabinets, flooring and more.
  • No plan review or consultant required 


FHA 203(k)
  • Minimum $5,000 in repairs
  • No reserves required at closing (for 1-2 unit properties)
  • Up to 6 months principle and interest payments can be financed, if the home is not habitable during construction. 

Construction Financing

  • Interst Only during the construction phase.
  • 9 month construction loan.
  • Simple builder approval process.
  • Customized draw schedule.
  • Jumbo and Conforming Loans

Please contact us today to see if a construction or renovation loan is right for you.

 

Home Improvements infographic image
[Source: U.S. Census Bureau]

 
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Corridor Mortgage Group, Inc., NMLS #111979, an Equal Housing Opportunity Lender. (866) 313-9600

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