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Renovation Loans

Vacant living room with laminate wood floors

What is a Renovation Loan?

A Renovation Loan, with Make Florida Your Home, gives you the chance to buy or refinance a home in need of repairs or updates and roll those costs into one simple home loan.

The repairs can be as simple as fixing the roof or replacing carpet to remodeling a kitchen or adding on a master suite. The choices are endless!

Bonus - Your loan and the value of the property will be based upon the condition and value after the repairs are completed. The renovation loan allows you the potential to gain instant equity in your home.

Why Should I Consider a Renovation Loan?

  • To make the most of your investment - Rather than paying a premium for changes made by the previous owners, you invest in improvements that suit your personal tastes and lifestyle needs.

  • To earn additional equity - Professional installers do the work, and you can earn “sweat equity".

  • To get more home for your money - You can take advantage of the excellent prices on homes that need repair and remodeling, then make the improvements you feel will provide the greatest value for you and their family.

  • To gain greater financial stability - Rather than putting a strain on their budget for major repairs later, you can improve your home up front and pay for those improvements over time more affordably.

How Does it Work?

It begins with deciding on the updates you would like to make in your current home. Your contractor and Make Florida Your Home will do the rest!

Don't worry, we will manage your renovation funds for you by tracking and dispersing all payments to your contractors. We will also order inspections from certified home inspectors and/or appraisers to ensure work is complete and finished in a professional manner.

You and your contractor will have the peace of mind knowing the funds allocated for the renovation will be safe and available when a payment is required.

What Makes Fairway Different?

  • Dedicated Renovation Team supports Loan Officers during the loan transaction.
  • File setup review is completed by the Renovation Team.
  • Contractor acceptance by Renovation Team ensures contractor is licensed, insured and in good standing.
  • Review of contractor bid ensures it is in the correct format and is accurate.
  • Renovation Team completes Initial Renovation Review prior to file being submitted to Underwriting.
  • Renovation Team prepares all renovation documentation for the Loan Officer and sends documents to borrower & contractor via DocuSign.
  • Renovation Team is available to help resolve complex borrower and contractor scenarios.
  • Renovation Draw Administration Team takes over after the loan closes to ensure the borrower and contractor understand the draw process and to help the process go smoothly.
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I want to buy a fixer upper

Suburban single family white ranch home

I want to remodel my home

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