Home Renovations Made Easy


Whatever the reason for a home upgrade, Colonial has two programs that allow you to make the home renovations you desire, with all of the award-winning services that Colonial is known for.There is no shortage of reasons people look to make a home renovation. For many, their finances have improved since they bought their home, and they are looking to invest the equity they’ve gained back into their current home. Others have now found themselves with extra space due to their kids growing up and having a place of their own. Many home shoppers may also find themselves in a situation where they have found a home that checks off nearly everything on their list, but it may be lacking in a few areas. Whatever the reason for a home upgrade, Colonial has two programs that allow you to make the home renovations you desire, with all of the award-winning services that Colonial is known for.

Fannie Mae’s HomeStyle Loan

If you’ve decided that it might be the right time to upgrade your dated kitchen into a brand new space to entertain guests, or add the outdoor living space you’ve always wanted, Colonial is here to help. No matter the renovation you have in mind, Fannie Mae’s HomeStyle Renovation Loan offered by Colonial may be just the program you’ve been waiting for.

The HomeStyle Renovation Loan is the ideal way to refinance and renovate your home, all with one low-rate loan. Here are a few specifics:

  • Up to 95% LTV based on “as completed” value
  • Improvements up to 50% of the appraised value
  • Refinance or purchase loans
  • Also available for second homes and investment properties with LTV limits
  • Currently available in Arkansas, Colorado, Tennessee and Texas

Colonial’s Purchase + Improvement Loan

For those who want to immediately improve their property upon purchase, Colonial’s Purchase Plus Loan is the program for you. This special program allows you to combine the financing for your new home with the financing needed to complete the renovation. Whether you are looking to add a pool, outdoor kitchen, landscaping upgrades or more, this program provides an innovative way to make financing your home that much easier. This program is also currently available in Arkansas, Colorado, Tennessee and Texas.

Contact Us Today

If you are looking to make some much-needed renovations to your new or current home, Colonial’s award-winning team of professionals are here to help. If you’d like to start a conversation, give us a call at 817.390.2246, or you can apply online today.

 

Related Article: Before you get started on your next renovation project, be sure you take a look at what What is Most Important to Homebuyers.

 

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