Program Highlights:
- Finance your renovation and permanent mortgage with one loan
- One closing helps reduce costs and simplify the process
- Designed for renovation projects of $75,000 or greater
- 90% Loan-To-Value up to conforming high balance loan limit on primary residence only
- 80% Loan-To-Value up to $1 million loan amount on primary and secondary residence
- 75% Loan-To-Value $1,000,001 to $1.25 million loan amount on primary residence only
- 70% Loan-To-Value $1,250,001 to $1.5 million loan amount on primary residence only
- 12-month interest-only construction period thereafter converting to a 7-1 ARM loan*
- Loan amount based on the completed value of the home after renovations
- Renovation funds disbursed as work is completed
- Option to convert to a long-term mortgage after construction is complete
* C&F 7-1 ARM: This allows the monthly payment to be lower than a 30-year fixed rate for the first 7 years, and then adjusts every year thereafter based on the current interest rates.