FHA Renovation Loan
FHA 203(k) Standard Renovation Loan
The FHA 203(k) standard renovation loan enables homebuyers and homeowners to finance both the purchase (or refinancing) of a house and the cost of its repairs or renovations through a single mortgage or to finance the repairs or renovations of their existing home.
This renovation loan has specific projects that are eligible.
Eligible Renovation Projects:
● Structural alterations and reconstruction
● Modernization and improvements to the home’s function
● Elimination of health and safety hazards
● Changes that improve appearance and eliminate obsolescence
● Adding or replacing roofing, gutters, and downspouts
● Adding or replacing floors and/or floor treatments
● Major landscape work and site improvements
● Enhancing accessibility for a disabled person
● Making energy conservation improvements
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CHM Lending is a local mortgage broker founded in 1992 and located in Medina, Ohio. Our company offers a full range of mortgage loan products including Conventional, FHA, VA, USDA, Construction, and Renovation loans. Our team has a combined over 45 years of experience in the mortgage industry and was voted Best of The Best in Medina County in 2017 & 2018. We use a common sense approach with all of our clients and we work with many different lenders to be able to offer the most competitive rates and costs coupled with amazing customer service.