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Renovation Financing
Not sure the perfect home exists? Are you finding homes that aren’t "just right" - but ooze with potential? Don’t let renovation or repairs stand in the way of turning a house into the home you dream of! MidCountry Mortgage has a variety of renovation programs that make it all possible.
Ideal for borrowers who
- Want to repair their current property
- Have limited funds for down payment, closing costs and necessary repairs
- Are interested in purchasing a home in need of repair
- Couldn’t afford to fix up their homes unless they had ready cash on hand
Eligible improvements
Eligible repairs and improvements can include, but are not limited to:
- Painting
- Room additions
- Kitchen remodeling
- Bathroom remodeling
- Finished basement
- Patio and deck replacement
- Yard grading
- Energy-efficient upgrades
- Appliances
- Electrical and plumbing upgrades
Note: Luxury improvements that do not become a permanent part of the real property (e.g., playgrounds, hot tubs, gazebos) are not eligible.
Renovation Loan FAQs
Construction Financing
Building a house is not something you go into alone. Trustworthy, approachable, and knowledgeable, we deliver service so you can enjoy watching your dream home evolve.
Building a home has a lot of moving parts. Knowing that you have a partner that has your back, you can focus on the look and feel of your new home. A construction loan from MidCountry Mortgage provides interest-only financing solutions. You can count on having the funds you need at just the right time during the building process. We want to make new home construction a memorable and rewarding experience for you.
Ideal for borrowers who
- Prefer custom home solutions
- Have found the “perfect location”
- Appreciate working with an experienced, dedicated team from start to finish
- Desire options and competitive terms
- Appreciate responsive and convenient communication between you, your builder and MidCountry facilitated by a cloud-based digital tool that simplifies and expedites the draw process
Permanent financing highlights
- Conventional financing up to 95% Loan-to-Value
- FHA financing up to 96.5% Loan-to-Value
- VA financing up to 100% Loan-to-Value
- Competitive rates, flexible terms
Construction Loan FAQs
The following list represents just some of the frequently asked questions about MidCountry Mortgage construction loans. But all questions are important whether on this list or not; we encourage you to contact your MidCountry Mortgage construction loan adviser with additional questions or clarification to the questions on this list. It is important to MidCountry Mortgage that you have as much information a possible in order to make an informed decision.
Minimum and Maximum loan amounts apply. Rates and programs subject to change at any time. Loans subject to borrower qualifications, property evaluation and credit approval. All rates and program guidelines subject to change without notice based on consumer eligibility and marketing conditions. All loans subject to credit approval and compliance with underwriting standards.