---
title: Renovation for Correspondents | Plaza Home Mortgage
description: Plaza Home Mortgage® can help you take your business to new heights by taking on the booming renovation market
image: https://info.plazahomemortgage.com/hubfs/Corr%20Reno_SOCIAL_0924%20.jpg
---
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[Plaza Home Mortgage](https://www.plazahomemortgage.com/)® purchases a variety of renovation loan programs to provide borrowers the perfect balance for financial backing, instant equity, and the best part – living in a dream home they create at a rate they can afford.
When you work with Plaza in renovation lending you can:
- Sell the loan when closed – you don’t have to wait for renovation completion (which can potentially result in larger loan amounts)
- Mitigate risk against fraud or manufacturing defects that trigger buybacks with the [Certified Loan Program](https://info.plazahomemortgage.com/get-certified)
- Ensure loan quality before closing through a pre-close review with our renovation underwriting team available for both non-delegated and delegated loans
With over 15 years of renovation lending experience, we are the right team for your renovation loans. Let us know how we can help!
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**Plaza's Renovation Program Lineup**
**Fannie Mae® HomeStyle®**
- Up to 97% LTV of the “as-completed” value
- 85% LTV on investment properties; 90% LTV on a 1-unit second home - SFR only
- 620 FICOs
- Improvements, including luxury items, that can be completed in six months are eligible
- Standard and Limited available
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**FHA 203(k)**
- 620 FICOs
- High Balance loan amounts
- 1-4 Unit and Condos
- Standard and Limited options available
- Manual underwriting available
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**Freddie Mac CHOICERenovation®**
- Up to 97% LTV of the “as-completed” value
- 85% LTV on investment properties; 90% LTV on a 1-unit second home - SFR only
- 620 FICOs
- Improvements, including luxury items, that can be completed in six months are eligible
- Standard and Limited available
- Plus, Plaza allows rental income from ADUs with LP approval on Single-Family Residences - this can be a great hedge against inflation for those who want to use equity to generate extra monthly income
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USDA Renovation
- Up to 100% LTV for USDA qualified buyers
- Available for purchase transactions in [eligible areas](https://eligibility.sc.egov.usda.gov/eligibility/welcomeAction.do?pageAction=sfp)
- Owner-occupied, detached SFR/PUD
- 620 min FICO
- Closing costs and upfront guarantee fee may be financed
*\[check program guidelines for all requirements\]*
---
**VA Renovation**
- Up to 100% LTV on purchase, 90% on refi
- Up to $50k for repairs -including fees & contingency
- 620 FICOs
- Jumbo loan amounts up to $970,800 nationwide
- Improvements, including luxury items, that can be completed in four months are eligible
---
Talk to your Plaza Account Executive today to learn more about how we can help you conquer your renovation market.
Not an approved correspondent client yet? [Sign up now and experience the Plaza difference](https://www.plazahomemortgage.com/correspondentlending/).
[](https://hubspot-cta-redirect-na2-prod.s3.amazonaws.com/cta/redirect/5238866/6cfb7132-0f20-4f0a-97cf-1cc43a5145f4)
or call 866.260.2529
to get started today!
Fannie HomeStyle[](https://info.plazahomemortgage.com/hubfs/PDF%20Flyers/300_Fannie%20Mae%20HomeStyle.pdf)
FHA 203(k)[](https://info.plazahomemortgage.com/hubfs/PDF%20Flyers/304_FHA203k%20Standard.pdf)
CHOICERenovation[](https://info.plazahomemortgage.com/hubfs/PDF%20Flyers/201_Freddie%20ChoiceRenovation%20Correspondent.pdf)
USDA Renovation
[.jpg?width=163&name=335_USDA_Renovation_THUMBNAIL_0522%20(002).jpg)](https://info.plazahomemortgage.com/hubfs/PDF%20Flyers/335_USDA%20Renovation%20Loan%20Program.pdf)
VA Renovation
[](https://info.plazahomemortgage.com/hubfs/PDF%20Flyers/320_VA%20Renovation%20Loan.pdf)
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