Welcome to Georgia Construction loans

Georgia Renovation loan Financing Made Easy!


The perfect financing for the not-quite-perfect home

Have you found a home that’s almost, but not quite what you want? Make it your dream home with our Renovation Loan, an innovative home loan that finances the purchase of your new home plus the costs of renovation.

For example, a Renovation loan can finance:
• A state-of-the-art media room
• The kitchen you’ve always dreamed of
• New floors or carpeting
• A deck, Jacuzzi or swimming pool

A Renovation loan is just like any other home loan, with an additional, separate account for your renovation costs. Payments will be made directly to the contractor through your renovation account.

Flexible funds for refinancing, second homes and investment properties.

This flexible loan program is also available as refinancing so you can renovate your existing home while possibly lowering your interest rate. Our Renovation Loan program is also the ideal financing for a second home or investment property that needs repairs or redecorating.

Who can use this program?

Borrowers who are obtaining a full documentation loan (no Stated or NIV) that will be a loan amount of $417,000 or less. The amount of work must be less than 5%. If the amount of the work to be performed is more than 95% the loan becomes a construction renovation loan and falls under the guidelines for our construction to permanent loan.

The Renovation loan is available for the followigng property types:
Primary Residence
2nd Home
Investment Property

Properties can be 1-4 units, as well as Fannie Mae/Freddie Mac warrantable condos.

Purchases are based on:
Down payment of 5% (purchase price + renovation costs) for owner-occupants, or for Investors. Visit our investor site

Refinances are based on:
Pay off of existing lien(s) + renovation costs + closing costs = New Loan (not to exceed 90% of "Subject To" value). If it does, borrower pays difference at closing.

Requirements:
Min Credit Score 660
Stated LTV Max. not available
Full Doc. LTV Max. 95%
Ratio (DTI) 45