Home Renovations

Whether you’re remodeling a single space, upgrading to all new appliances, or building an addition onto your current home, we can help you secure financing with FHA 203(k), FHA 203(b), Freddie Mac’s CHOICERenovation®, and Freddie Mac’s CHOICE Reno eXPress® loans.

Reasons/Highlights

Favorable terms and interest rates available
Boost curb appeal when it’s time to sell
Only pay one set of closing costs
Customize a home for less than a new build
Do it all within a mortgage instead of a credit card or other forms of unsecured debt
Leverage the after-improved value of the home for the loan

Your home, your way.

Have a smaller-scale renovation project in mind? Ask your loan originator about our EasyPath Reno process, which allows you to utilize select big box retailers like The Home Depot, Lowe’s, and Menards for standard upgrades with CHOICERenovation® and CHOICEReno® eXPress products.

Keep the benefits of leveraging a mortgage with renovation financing—and keep the convenience of leveraging a favorite retailer for the improvements.

The Process
Home renovation projects involve many moving parts and require coordination between multiple parties. That's why we're committed to fostering a seamless transaction. Our expert team provides world-class assistance, from validating contractors and ensuring scope-of-work clarity to helping with permits and funding your project as the work gets completed.
Have a swipe! ⟶
Qualification
You submit documentation to see if you qualify for renovation financing.
Contractor Selection
You select a professional contractor to execute renovation plans.
Contractor Validation
Cardinal Financial vets your choice of a home improvement professional.
Project Approval
Cardinal Financial reviews your renovation details to make sure they meet our loan standards.
Underwriting
Before moving the loan forward, our underwriting team will review all the information provided.
Closing
Once the loan is approved, you set up a closing date with us.
Set Up LIP Account
After closing, funds will be held in an LIP (loan in process) account.
Draw Funds
During construction, the contractor or HUD consultant will request to draw funds as needed.
Complete Renovations
Renovations must be completed within six months of the loan closing date.

Are You a Real Estate Agent?

Find out how you can help your clients navigate renovation financing.

Learn More

Are You a Contractor?

Explore the benefits of partnering with us on your next home reno project.

Learn More

Related home loans.

Renos, remodels, rebuilds, and new builds. Whenever you’re ready for your project, we’ve got specialized financing options waiting.

CHOICERenovation

Bundle the purchase or refinance of your property and the cost of your projects with this single-close loan that’s based on the “as-completed” value of the home.

Get Quote

CHOICEReno eXPress

Ideal for repairs and renovations on a smaller scale, this loan offers the convenience of a single close on both purchase and refinance transactions.

Get Quote

FHA 203(k)

Fancy the idea of a fixer-upper? An FHA 203(k) loan covers the purchase of your property and the remodeling costs, including labor and materials.

Get Quote

FHA 203(b)

Are you purchasing a HUD home that needs repairs or refinancing an existing FHA mortgage on a home that needs repairs? This loan makes it easy to roll repair costs into your mortgage.

Get Quote

HomeStyle Renovation

From major renovation to minor restoration, this loan can conveniently fund various projects, including repairs, energy updates, landscaping, and luxury upgrades.

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Find a Loan Originator

Featured blogs

The mortgage world is constantly changing. Check out our latest blog posts to keep up and stay wise to the market.

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Speak with a Cardinal Reno Specialist

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Name*

Email*

Phone Number*

Property State*

Estimate Reno Amount (Renovations, improvements, and/or upgrades)*

Purchase or Refinance?*

Reason for Contact*

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Home Renovations

Reasons/Highlights

Your home, your way.

The Process

Qualification

Contractor Selection

Contractor Validation

Project Approval

Underwriting

Closing

Set Up LIP Account

Draw Funds

Complete Renovations

Are You a Real Estate Agent?

Find out how you can help your clients navigate renovation financing.

Are You a Contractor?

Explore the benefits of partnering with us on your next home reno project.

Related home loans.

CHOICERenovation

CHOICEReno eXPress

FHA 203(k)

FHA 203(b)

HomeStyle Renovation

Featured blogs

5 of the Most Valuable Home Upgrades

Home Renovation Loans: 6 Reasons to Take the EasyPath

DIY Home Renovations on a Budget

Get Started