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Renovation Mortgage

We make it possible to turn a fixer-upper into the perfect house with a renovation mortgage. It's like a purchase and construction loan in one!


Found a home that needs updating?

When you've found the perfect location, but the house is not in the best shape, we have a mortgage that could help you make it everything you want. Our Renovation Mortgage allows you to include financing for immediate upgrades to your new home.

Borrow more money for upgrades
One-step, one-time closing
Purchase and remodel

In a way, a Renovation Mortgage is like combining a home mortgage with a construction loan. You'll be able to purchase the home and borrow additional funds to refurbish the house right after the closing. There are particular guidelines to follow, so it's important to discuss your options with a mortgage specialist. Find a mortgage specialist near you or call (863) 688-8443 or toll free (855) 915-4663.

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Learn about Renovation Mortgages

  • A loan for those who want to buy or refinance and make repairs/improvements with one loan
  • Finance up to 80% of loan-to-future-value1
  • Renovation funds are bundled into your mortgage so you only have one monthly payment
  • Cosmetic and structural renovations are allowed
  • Up to 30-years fixed and adjustable rate mortgages
  • Repairs or improvements must be permanently affixed to the property and add value to the property
  • $10,000 minimum in repairs required
  • Licensed General Contractor required


Homeowners Insurance

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Protect your home inside and out. Compare multiple carriers to find the best deal available. Insurance products provided by MIDFLORIDA Insurance Services, LLC. Lic. #L084232

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Notices & Disclosures
MIDFLORIDA Credit Union Membership, eligibility, and credit approval required. Not available for mobile homes. A purchase price of $350,000 on a primary residence plus $52,500 in improvements, with a 20% down payment, would result in a loan amount of $322,000. Payment Example: 30-year fixed rate mortgage on a primary residence with the minimum credit score of 700 at a rate of 7.750% and an Annual Percentage Rate (APR) of 7.789% has a monthly payment of $2,279.10, which includes principal and interest. Payment example does not include amounts for taxes or insurance premiums; the actual payment will be greater. Advertised terms are valid as of February 15, 2024, and subject to change without notice. Other conditions apply. Ask your mortgage loan officer for details.