AnnieMac Renovation Mortgage

One Loan, One Closing Renovation Financing

  • Loan amount based on the as-completed value of the property
  • Improve your home at low first mortgage interest rates
  • Perform almost any type of improvements or repairs that may total up to 50% of the as-completed property value
  • Finance up to six months of mortgage PITI payments to cover non-occupancy costs during construction
  • Primary residences, second homes and investment properties
  • One-to four-unit homes, condominiums, and PUD’s
  • 30 year fixed-rate mortgages


Contractors – Because a FHA 203K renovation loan is not a typical loan and is a unique government-insured loan with specific FHA requirements, it is important to partner with a contractor who has been properly educated and experienced. To help assist borrowers, AnnieMac Home Mortgage is now verifying contractors who are qualified in the 203K renovation process.

  • Create your Dream Home.
  • Renovate your home with little or no additional out-of-pocket expenses and LOW down payment.
  • Combine the purchase and renovation costs into one LOW interest, tax-deductible loan that is based on the projected value of the property.
  • Submit a strong purchase offer to the Seller.
  • Less competition from other buyers who are not in the market for a fixer upper, offering greater negotiating power on home purchases.
  • Choose from a greater selection of homes on the market in any condition, including condos, townhouses, mixed-use, multi-family and single family homes that do not currently meet FHA minimum property standards.
  • Market property to more buyers.
  • Allow buyers the opportunity to renovate a home that will suit their taste and preference.
  • No need to settle for low-ball cash offers.
  • Current condition of property is not required to meet FHA’s minimum property standards.
  • Buyer is permitted to correct FHA property deficiencies after the closing.
  • No repairs are required prior to the closing.
  • Seller is not responsible for the cost of repairs needed.
  • Transaction will close with the property in “as-is” condition.
  • Close in as little as 45 days!
  • Sell more homes and originate more loans.
  • Raise real estate values by improving homes and neighborhoods.
  • Decrease foreclosure inventory.
  • Help buyers who previously could not buy homes.
  • Help sellers who own out-dated or fixer upper properties.
  • Spur economic growth by creating job opportunities in the construction and remodeling industry.
  • Promote a niche program that not many other realtors and lenders utilize.
  • Revitalize your community.


  • Kitchens – countertops, cabinets, etc.
  • Purchase and installation of new appliances
  • Repair / replacement of roofs, gutters, downspouts
  • Upgrade existing HVAC systems
  • Upgrade plumbing and electrical
  • Flooring
  • Decks, patios
  • Painting
  • Basement finishing / remodeling
  • Minor remodeling – no structural repairs
  • Disability access improvements
  • Connect property to public utilities
  • Window and door replacement
  • Septic system and/or well repair or replacement

Full 203K

  • All of the above plus…
  • Anything that will become a permanent part of the property
  • Structural renovations
  • Swimming pool repairs up to $1,500
  • Installation or repair of well or septic
  • New free standing appliances
  • Landscaping
  • No luxury items – hot tubs, pools, etc.

Financing Available for NY Borrowers

Melissa DeBenedetto

NMLS# 110448

CELL: 201 280-0633

Financing Available for NJ & PA Borrowers

Bill Grath

NMLS# 130530

Cell: 201 707-0735

Talk to our team about the many other financing tools that are available.

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