Renovation mortgages offer the opportunity to buy (or refinance) a home, and obtain money for improvements, all with one loan. Great for buyers that want to buy a fixer-upper, or someone who just wants to modernize an older home.
FHA 203(k) Limited: FHA 203(k) Limited loans allow qualified borrowers to finance a repair escrow up to $35,000. This program is designed to facilitate the purchase of homes needing minor repairs. Repairs can include, but are not, limited to the roof, plumbing, HVAC, minor remodeling, appliances, flooring, windows, siding, and more.
FHA 203(k) Standard: FHA 203(k) Standard loans allows more types repairs than the limited, allows a higher budget for the repairs, and requires the use of a 203(k) consultant to help you define the scope of the job and write the specifications. It includes all the repairs allowed for a limited, but it also allows repairs that are more structural, such as foundation repairs, or putting an addition onto a home.
Conventional Homestyle: The Homestyle is a conventional version of the FHA 203(k). The Homestyle has a down payment that is slightly higher than the 203(k)m but the cost of mortgage insurance may be less, and you can also finance investment properties and second homes.
Serving All Communities
Trident is dedicated to making home ownership a reality for all families. We offer many affordable housing options through our partnerships.Get Started
It's easy, secure and only takes a few minutes.Get Started
Our short video guide takes you step by step through the mortgage application process.Watch Now
What Our Customers are Saying
~ J. Z.
I just wanted to share my amazing experience with buying a condominium with some incredible people at Prudential Fox & Roach/Trident Mortgage. During a life transition, I found the perfect place for me to live with Johanna Erwin and Kathryn Behm's help. From the beginning, they were so kind and accommodating and catered to my life circumstance to help me achieve my goal of buying a new home. Johanna moved with such speed and persistence in helping me get everything ready, that it was easy. After I placed a bid on the condominium, they gave me a calendar of all the upcoming events with a day-by-day activity list of things that needed to be achieved for the transaction to be completed in a timely manner.
It was about one month from the time that Dennis Kinslow helped accurately analyze my financial situation and Linda Brautigam started my credit check until the time that settlement occurred. How fast was that? Never heard of such speed in the mortgage industry before. Then the settlement finished in about an hour, since I had already completed a walk through.
I can't say enough praises about Johanna, Kathryn, Dennis and Linda. They have been so fabulous!!! They are a dream team that moves like a well-oiled machine.
I especially thank Linda in her diligence in following up with all the many, many last minute details in the final preparations moving towards settlement.
It's amazing seeing perfection in action when all the steps to conclusions are not fixed, but moving.
Well, thank you again for having a superb team of highly talented people who work with tireless effort and precision in your company.
Their hard work changed my life for the better.