RENOVATION

Other Loan Options

Section 203(k) enables homebuyers and homeowners to finance the purchase of a house and the cost of its rehabilitation through a single mortgage or to finance the rehabilitation of their existing home.

Features:

  • 3.5% down payment

  • Limited 203K Program available for less extensive repairs

  • Down payments can be gifted

FHA 203k Loan
HomeStyle® Renovation Mortgage

The HomeStyle® Renovation (HSR) mortgage permits borrowers to include financing for home improvements on a purchase or refinance transaction of an existing home.

 

Features:

 

  • Cost-effective way to renovate or improve your home

  • Single mortgage means lower closing costs and typically lower interest rates

  • Borrowers can qualify for a combined loan to value (CLTV) of up to 105%

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Fairway Mortgage Benefit Program operates through Fairway Independent Mortgage Corporation of Seattle. Andrew W. Reid, Market Manager- Seattle. NMLS #420400. 1910 Fairview Ave E, Ste 101, Seattle, WA 98102 Toll-free: 855-7-FAIRWAY Fax: 866-715-2733 areid@fairwaymc.com ©2020 Fairway Independent Mortgage Corporation. NMLS#2289. 4750 S. Biltmore Lane, Madison, WI 53718, 1-877-699-0353. Complaints may be directed to 877-699-0353 or email us at customerservice@fairwaymc.com. All rights reserved. Fairway is not affiliated with any government agencies. These materials are not from VA, HUD or FHA, and were not approved by VA, HUD or FHA, or any other government agency. This is not an offer to enter into an agreement. Not all customers will qualify. Information, rates, and programs are subject to change without notice. All products are subject to credit and property approval. Other restrictions and limitations may apply. AZ License #BK-0904162. 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.

 

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