Renovation Loan Programs

Renovation Options can include anything that adds value to the home such as:

  • Structural changes including room additions
  • Install, repair or upgrade plumbing, electrical or HVAC
  • Remodel kitchen and bathrooms
  • Roofing repair or replacement
  • Repair/Replace/Upgrade well and septic systems
  • Paint - interior and exterior, new flooring, new appliances, decks, and fencing
  • Weatherization - including storm windows and doors, insulation, weather stripping, etc.
  • Accessibility improvements for persons with disabilities
  • Elimination of health and safety hazards, termite removal and mold remediation


Standard - FHA 203k

  • Repairs/improvements must be at least $5000
  • Primary Residence only - 3.50% Down Payment
  • Used to facilitate major repairs and improvements or costs and fees exceeding $35,000
  • Consultant required
  • Architectural exhibits may be required
  • Termite report required
  • Purchase or refinance
  • Up to six (6) months, PITI can be included if the property cannot be occupied during construction


Limited - FHA 203K

  • No minimum repair amount
  • Primary Residence only - 3.50% Down Payment
  • Maximum renovation budget of $35,000 in repair costs and fees
  • Used to facilitate non-structural repairs and improvements
  • No Consultant required
  • No Architectural exhibits required
  • Purchase or refinance


Fannie Mae HomeStyle® Renovation

  • 5.00% down payment for the purchase of a Primary Residence (3.00% - First Time 
    Homebuyers). 
  • Second/Vacation homes and Investment Property options available.
*Renovation funds may not exceed 75% of the "after-completed" value of the home.
Call for more details call 757.589.0863 or email Renovation Loan Coordinator Lori Walder

Tidewater Home Funding

Tidewater Home Funding, LLC NMLS# 41552
(www.nmlsconsumeraccess.org).
Equal Housing Lender.

Licensed in Virginia, North Carolina & Florida.

VSCC Bureau of Financial Institutions, P.O. Box 640, Richmond VA 23218-0640, (1-800-552-7945) www.scc.virginia.gov/bfi

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