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. eCU Mortgage, a subsidiary of 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.

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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.

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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.

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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).

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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