Renovation Loans in Greater Chicago
Roll renovation costs into your home purchase or refinance. With MakeOver Mortgage, you imagine the possibilities, we’ll fund your vision.
- Qualify based on completed value of property after improvements
- Finance a large percentage of your home's new value
- Enjoy a low rate
What type of renovation loan is right for me?
The answer really depends on the scope of the project. If you have a lot of equity, a cash-out refi may be the right choice. If your equity is limited, our Makeover Mortgage may be the right loan for you. If the improvements are minor in nature, you may want to consider a home equity line-of-credit.
What type of home improvements can be financed into a new renovation loan?
Really, any type of improvement can be financed into renovation loans. But, you want to make sure that the improvements will add value to your home. Think upgraded bathrooms and kitchens and stay away from a bowling alley in your basement.
Can improvements be financed into a new mortgage when the home is purchased?
Our Makeover Mortgage provides clients the opportunity to finance new improvements in their new first mortgage when they close on their home. This is a great way to pay for improvements upfront without having to deplete your cash reserves or obtain an equity line after closing.