When It's The One, But There's So Much Work To Be Done
Bundle your renovation costs into your mortgage loan amount.
With a lot of older homes on the market, it can be hard to find exactly what you’re looking for. Don’t overlook those old, charming homes that need a little fixing up. CHOICERenovation allows you to include renovation costs in your mortgage loan amount—alleviating the uncertainty of when and how you’re going to finance renovations.
• 1 – 4-unit primary residence
• 1-unit second home or investment
• Down payment options starting as low as 3%
• Renovation costs limited to 75% of the “as completed” appraised value of home
Private Mortgage Insurance (PMI) will be required for all FHA loans as well as conventional loans where the LTV is greater than 80%. Applicant subject to credit and underwriting approval. Not all applicants will be approved for financing. Receipt of application does not represent an approval for financing or interest rate guarantee. Restrictions may apply, contact Guaranteed Rate for current rates and for more information.