Construction and Renovation Loans
We know your dream home is out there – sometimes it just takes a little bit of TLC or imagination to bring it to life.
At Waterstone Mortgage, we have several loan programs that will allow you to build your new home from the ground up. You can also make modifications to your existing home. Our streamlined loan process allows you to focus on the excitement of building or renovating your home.
can i add renovation costs to my mortgage?
Yes! If you’ve found your dream home, but there are a few changes you would like to make (like updating the kitchen appliances or adding another bathroom), a renovation loan may be the right fit for you.
Our renovation loan programs – such as the FHA 203(k) loan or HomeStyle® loan program – provide financing (or refinancing) for a new home plus the cost of eligible repairs, additions, or reconstruction. These loans are perfect for financing fixer-uppers or homes that need just a little extra work.
If you’re looking to make jumbo-sized renovations, you may be able to take advantage of our jumbo renovation program. Like our other renovation programs, these loans cover the cost of the home purchase and the renovations, but they are specifically for loan amounts over the conventional conforming loan limit.