Renovation Loan Programs


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

  • Room addition, including new bathrooms
  • New carpet, plumbing and roofing (new or repaired)
  • Remodel kitchen, purchase and install new appliances
  • New roof
  • Repair/Replace/Upgrade existing HVAC system
  • Paint - interior and exterior
  • 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
  • Used to facilitate major repairs and improvements
  • Consultant required
  • Architectural exhibits 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
  • Maximum repair amount of $35,000
  • Used to facilitate uncomplicated repairs and improvements
  • No Consultant required
  • No Architectural exhibits required
  • Purchase or refinance

Fannie Mae HomeStyle® Renovation

This program allows for the purchase and renovation of a home. A borrower may refinance and remodel an existing property. Funds may cover up to 50% of the completed value of the home. With a low 5% minimum down payment, you can use the loan as a primary residence. Second home or investment property options are also available. Low or no PMI for qualified borrowers!

Call for more details 757.366.8690 or email Renovation Loan Coordinator Lori Walder

Tidewater Home Funding

Tidewater Home Funding, LLC NMLS# 41552
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)

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