Fix the following errors:
Financing to Rehab Your Dream Home
Our renovation loans allow you to purchase or refinance and renovate with one loan closing.
Financing to Rehab Your Dream Home
Our renovation loans allow you to purchase or refinance and renovate with one loan closing.
Request a Free Consultation!
To learn more about home renovation financing.
By submitting this form you agree to be contacted by phone, text or email by Bank of England Mortgage.
You get to choose the upgrades and improvements you'd like to make to your dream home. Here are some examples of eligible improvements:
Request a Free Consultation!
To learn more about home renovation financing.
What is a Renovation Loan?
Renovation loans such as FHA 203(k) or FannieMae HomeStyle® allow you to finance the purchase or refinance of your primary residence and to repair, improve, or upgrade the home with one loan closing and as little as 3% down.
RENOVATION LOANS MADE EASY
Financing Options to Rehab your Home!
Here are some of the highlights of the programs.
Low Down Payment
Purchase and renovate your home with as little as 3% down. Refinances often don't require any money down.
Buy a Fixer-Upper
Banks traditionally will not lend on a home that needs repairs, making financing more difficult for fixer-upper projects.
Eligible Improvements
Fast Closings
Average closing times are 45 days or less from the application date to the closing table.
Great Support
Not all lenders offer renovation financing. We understand the nuances of the programs and can guide you to a smooth loan closing.
Flexible Guidelines
203(k) loans follow FHA guidelines, which allow more people to qualify that otherwise wouldn't. Minimum FICO score is only 620.
You get to choose the upgrades and improvements you'd like to make to your dream home. Here are some examples:
Renovate Your Way
Customize the home to your taste by renovating the bathroom, kitchen, flooring, appliances, exterior, and more.
Request a Free Consultation Today
Find out more information about renovation loans by Bank of England Mortgage.
COMPETITIVE ADVANTAGE
Build Instant Equity.
Buying and renovating a property can give home buyers instant equity. According to real estate website RealtyTrac®, homes that are sold as "distressed" sales have median prices that are 42% lower than non-distressed sales. For example, a home that would normally sell for $300,000 but needs $35,000 in repairs may only sell for $225,000, which could leave $40,000 in instant equity for the buyer. The problem is that it can be very difficult to obtain financing for a home in need of major repair. Renovation loans allow for one mortgage, which is permanent financing at competitive rates.
PRESERVE SAVINGS
Save Money for Other Costs.
Purchasing a home can be expensive. In order to go to closing, buyers need to bring their down payment, plus pay for closing costs, insurance, inspections, etc. There are additional expenses that should also be considered, such as moving costs, utilities, new furniture, home furnishings, and more. If you're considering purchasing a home and doing upgrades, a renovation loan could preserve your savings by financing the purchase and the repairs, improvements or upgrades with one down payment as low as 3%.
Bank of England Mortgage has tried to provide accurate and timely information; however, the content of this site may not be accurate, complete or current and may include technical inaccuracies or typographical errors. From time to time changes may be made to the content of this site without notice. Bank of England Mortgage may change the products, services, and any other information described on this site at any time. The information published on this site is provided as a convenience to visitors and is for informational purposes only. You should verify all information before relying on it and decisions based on information contained in our site are your sole responsibility. If you are an individual with disabilities who needs accommodation, or you are having difficulty using our website to apply for a loan, please contact us at (877) 832-4004. This contact information is for accommodation requests only. Bank of England Mortgage is a division of Bank of England NMLS 418481. Bank of England Mortgage is not affiliated with any government agency. Member FDIC. Branch address 120 E 23rd Street, 5th Floor, New York, NY 10003.
Eligible Improvements
Kitchen and bathroom remodels
Appliance replacements
Carpets and flooring
Roof replacement or repair
Painting or wall repair
Repairing safety or health issues
Energy efficient improvements
Convert a one-family home into a 2, 3 or 4 unit*
Structural alterations*
Build additions to the home*
*FHA Full 203(k) only
Call Us Today For FREE
877-832-4004
Call Us Today For FREE
877-832-4004
Kitchen and bathroom remodels
Appliance replacements
Carpets and flooring
Roof replacement or repair
Painting or wall repair
Repairing safety or health issues
Energy efficient improvements
Convert a one-family home into a 2, 3 or 4 unit*
Structural alterations*
Build additions to the home*
*FHA Full 203(k) only
COMPETITIVE ADVANTAGE
Request a Free Consultation Today
Find out more information about renovation loans by Bank of England Mortgage.
RENOVATION LOANS MADE EASY
Financing Options to Rehab your Home!
Here are some of the highlights of the programs.
Flexible Guidelines
203(k) loans follow FHA guidelines, which allow more people to qualify that otherwise wouldn't. Minimum FICO score is only 620.
Renovate Your Way
Customize the home to your taste by renovating the bathroom, kitchen, flooring, appliances, exterior, and more.
RENOVATION LOANS MADE EASY
Financing Options to Rehab your Home!
You get to choose the upgrades and improvements you'd like to make to your dream home. Here are some examples:
Eligible Improvements
What is a Renovation Loan?
Renovation loans such as FHA 203(k) or FannieMae HomeStyle® allow you to finance the purchase or refinance of your primary residence and to repair, improve, or upgrade the home with one loan closing and as little as 3% down.
PRESERVE SAVINGS