Renovate Plus Loan

Have you considered remodeling or adding on to your home?  Are you worried that you may not have enough equity to qualify for the loan that you need?

IH Credit Union can help take those worries away with the Renovate Plus loan!  Your home will be appraised based upon the value added by the improvements you plan to make.

• All work done must be completed by a licensed contractor and all proper permits must be obtained
• Any estimates from the contractor must be provided before the appraisal is ordered
• This loan is for owner-occupied properties only

For more details, contact Matt Clark at (937) 390-1800 x 306 mattc@ihcreditunion.com.

How it works...

Other renovation loans: lend up to 90% of value in home:

Home value:                            300,000

Mortgage:                               200,000

Amount you can borrow:        70,000

Renovate Plus:

Home value:                            300,000

Value after remodel:               400,000

Mortgage:                               200,000

Amount you can borrow:        160,000

Under our new Renovate Plus loan you get an additional borrowing capacity of $90,000.

*A licensed contractor must be used for all projects and all proper permits must be obtained. Additional fees may apply. Other terms and conditions may apply.