USDA Renovation Program
Are you eyeing a charming house that needs a little TLC before it becomes your dream home? Geneva Financial proudly introduces USDA Renovation loans, designed to help eligible borrowers purchase homes in need of renovation.
Program Overview
This innovative program allows homebuyers to combine the purchase of a home with the costs of necessary renovations into a single loan, opening doors to homeownership for more families while enhancing communities’ housing stock.
Program Highlights
Up to 100% Financing: Borrowers may finance up to 100% of the “as-improved” value of the property, including the guarantee fee.
One Loan for Purchase and Renovations: This program simplifies financing by combining the purchase of a fixer-upper with renovation costs into a single loan, streamlining the process for homebuyers.
Guaranteed Loan: The loan is guaranteed after closing, providing peace of mind to borrowers before the completion of repairs.
Advanced Funds for Non-Structural Repairs: For non-structural repairs, contractors can receive up to 50% of estimated materials and labor costs before beginning construction, facilitating smoother renovations.
Loan Options
Resources