Home Improvement Loan

Both Fannie Mae and the Federal Housing Authority allow buyers to borrow on what the house is expected to be worth after the renovation is complete. Homeowners can use either program to refinance their current mortgage, plus roll the renovation costs, into one loan.

These home renovation loans in Arizona require that borrowers show that the money was spent on the house. For the FHA 203(k) program, the borrower hires a consultant to assess the construction plan and to perform an inspection before the money can be disbursed to the contractor. Borrowers then have up to six months to finish the project and are allowed up to five more disbursements. If you own a home in Arizona, MMG Group at Nova can assist you with most of your home renovation loans. Call us today!


Other Loan Types

*The Product/Program information contained here is educational only and does not represent actual rates or financing terms.