Why Renovate with Partner Home Loans?
At Partner Home Loans, we know your home is more than just a structure, it's the backdrop for life's most important moments. Whether you're updating an outdated kitchen or transforming your bathroom into a relaxing retreat, we're here to help make your renovation affordable and straightforward.
- Affordable Financing: Competitive rates designed to fit comfortably within your budget.
- Increase Your Home's Value: Enhance your home's appeal and market value for future sale opportunities.
- Single Closing: Combine your home purchase and renovation into one convenient loan, simplifying the financing process.
- Cost-Effective Customization: Achieve your dream home at a fraction of the cost of buying new.
- Avoid High-Interest Debt: Finance your renovation through your mortgage and avoid high-interest alternatives like credit cards.
Our Renovation Process
We simplify the renovation experience step-by-step:
- Qualification: Determine your eligibility with a straightforward review process.
- Select Your Contractor: Choose a professional contractor to execute your vision.
- Contractor Validation: We ensure your selected contractor meets our professional standards.
- Project Review: Our team thoroughly checks your renovation plans.
- Underwriting Review: Our comprehensive yet efficient underwriting will review to approve your project.
- Closing: Finalize your loan agreement to begin renovations promptly.
- Fund Management: Funds are securely managed and released incrementally as work progresses.
- Construction Progress: Your contractor draws funds as needed to complete the renovation.
- Completion: Your project is finished within six months or less.
Renovation Loan Options
- CHOICERenovation: Purchase a home that may need repairs or refinance your existing mortgage while rolling renovation costs into your loan balance—all in one mortgage.
- CHOICEReno eXPress: A conventional, streamlined renovation mortgage that lets you finance smaller-scale home improvements, covering up to 10% of your home's "after-improved" value.
- FNMA Homestyle: Purchase or refinance a home and include renovation costs in your loan, with flexible options for larger projects.
- FHA 203(k): Get a single mortgage to finance both the purchase and renovation of your home, making it easier to create your dream space. Or use it to finance the rehabilitation of an existing home.
- FHA 203(k) Limited: Ideal for smaller-scale repairs and updates.
- "Big Box" Partner Pro: Use select big-box retailers like The Home Depot, Lowe's, and Menards to finance standard home upgrades through CHOICERenovation® and CHOICEReno® eXPress.
- Fix & Flip Loan: Get short-term, interest-only financing to buy, renovate, and sell investment properties with ease.
