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Renovation Loans

A renovation loan allows you to purchase or refinance a home in almost any condition, make improvements today and pay for them over time.  Let us help you create your dream home!


Whether you have your heart set on a particular location or the inventory of homes in your area is low finding the right home can be difficult.  A renovation loan helps you create your dream home.

The benefits:

  • Single loan for purchase/refinance and improvements
  • Make choices that fit your personal taste
  • Buy in the neighborhood you love
  • Borrow based on the future estimated home value

Loan Types

We offer purchase and refinance renovation loans through both conventional and government programs.  This includes Fannie Mae Homestyle, FHA 203k and FHA 203k Limited.


To be used on conventional loans for both appraiser-required repairs and repairs the borrower wants done to the property. It can be used on second homes and investment properties.

FHA 203K

This government-insured loan allows you to buy a home that’s in need of major repairs and/or renovations. The repairs can be structural and/or cosmetic in nature. An important benefit is you can buy a home and complete the repairs using just this loan. This loan offers fixed rates with only a 3.5% down payment required. The home must be your primary residence. The FHA 203K is also available for refinance transactions

FHA 203k Limited

This is similar to the FHA 203K Full loan, but is more limited in its scope. The repairs can only be cosmetic in nature and are limited to a maximum of $35,000. Because the repair costs are smaller, there is less red tape to get the loan, which is why sometimes it’s called "streamline." These loans can also be used to refinance existing mortgages and rehab homes.


6551 Harrison Avenue, Cincinnati, OH  45247
Office:  (513) 598-5900
Fax:  (513) 598-5153
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A subsidiary of New Foundation Savings Bank (NMLS #487896)

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