Upgrade your fixer-upper with a renovation loan.

With a renovation loan, you can purchase a fixer-upper or stay in the home you love while making the upgrades you desire.First Service Credit Union offers several loan options to fit your needs. We do all the work while you start planning those exciting upgrades and show-stopping renovations! Apply online or visit a local branch today.

FHA 203(K) Loans (Standard & Limited)

The FHA 203(K) loan allows you to finance a fixer-upper or a home needing minor improvements with the money needed for structural and cosmetic improvements. The loan also allows financing of energy conservation improvements, roofs, appliances or non-structural repairs like painting.

Apply for an FHA 203(K) loan Now

Features

    Flexible guidelines for the borrower

    Lower down payments

    Stricter guidelines for homes and improvements

FNMA Homestyle® Loans

The HomeStyle renovation mortgage also provides a convenient and flexible way for borrowers add repairs and renovations in with a first mortgage.

Apply for a HomeStyle renovation mortgage Now

Features

    More lenient guidelines on renovations

    Lower closing costs

    Requires higher credit scores

FHA 203(H) Loans

The FHA 203(H) loan is a disaster relief loan provided for residents of a Presidentially-Declared Major Disaster Area (PDMDA).

Apply for an FHA 203(H) Loan Now

Features

    Home must be the primary residence in a PDMDA

    Up to 100% financing for new homes or renovations on existing homes

    Available for up to one year from declaration of PDMDA