renovation mortgage

turn a fixer-upper into your dream home

Our renovation mortgage includes financing for immediate upgrades to your new home. It's like a purchase and construction loan in one!
Get Started
Young couple and their contractor examining housing plan at construction site.
at a glance

It's Perfect with Some Work

When you've found the perfect location, but the house needs a little TLC, we have a mortgage that could help you turn it into the home you've been dreaming about. Let us help you evaluate your options and find the perfect mortgage solution. 

Financing Options

Finance up to 80% of the loan-to-future-value1, and the renovation funds will be included in your mortgage, resulting in just one monthly payment.

Renovation Types

Both cosmetic and structural changes are allowed, provided they are permanently affixed and add value to the property.

Immediate Upgrades

Allows you to borrow additional funds to start refurbishing the house right away, with a one-step, one-time closing.
First Steps

How to Get Started

Getting started on a mortgage is simple when you know the key steps to take, from exploring your options to submitting your application.
Fast App

Get Pre-qualified

Take the guesswork out of your home search. By knowing how much you can afford, you can find the perfect home that fits your budget and be one step closer to moving in. Start your application now and we'll be happy to walk you through the next steps.
Get Started
Young couple holding keys to first home
Mortgage specialists

Find Your Perfect Mortgage with Expert Help

Not sure which mortgage loan is right for you? Our Mortgage Specialists are here to guide you every step of the way. Contact a local expert to get personalized advice and find the loan that fits your needs. Locate a Mortgage Specialist or call (863) 688-8443 or toll free (855) 915-4663.
Mortgage Specialists
Couple meeting with MIDFLORIDA Mortgage Specialist. They are sitting at desk with documents and a digital tablet presentation.
Number one

Let's Chat

Answer a few simple questions and we will connect you with a mortgage expert to help find the perfect product for your needs.
Number two

Processing Your Application

Once we've matched you with the right product, we will guide you through every step, helping you gather the necessary documentation to process your application.
Number three

Approval & Funding

When you find your dream home, our team will guide you through the mortgage closing process, ensuring all final steps are completed smoothly.
calculator

Calculate Your Monthly Payment

Use the calculator below to calculate your monthly payment would be with a renovation loan.
More Loan Types

Explore Other Mortgage Options

Consider these additional mortgage loan options that might be a better fit for your financial situation.

Couple in home celebrating, man is in wheelchair

Cash-Out Refinance

Replace your existing mortgage with a new one for more than you owe, receiving the difference in cash. Use the funds for home improvements or other major expenses.
Learn More
Family in living room with boxes

Fixed-Rate Mortgage

Financing with a fixed-rate mortgage provides you with the stability of always knowing what your principal and interest payments will be each month.
Learn more
man sitting on front porch swing

Home Equity Loans

Our home equity loans offer a smart way to tap into your home's value, providing you with the funds you need for renovations, education, or other big goals.
Learn More

Planning for Homeownership

Start planning for your future home today with tips and advice on where to start from our mortgage experts.
Read More

Mortgage Checklist

Make sure you're fully prepared. Check out our complete list of the documents and information you'll need to gather for a smooth mortgage loan process.
Read More

How to get a loan

Ready to secure your mortgage? Learn all about the loan process from application to funding in our step-by-step guide.
Read More
Dive Deeper

Insights and Tips from Our Blogs

View All

What Happens When the Fed Cuts the Target Fed Funds Rate?

When the Fed cuts the target fed funds rate, how does that affect mortgages, refinancing, and borrowing? And explore how MIDFLORIDA can help you benefit from lower rates.

Learn More

Historical Guide to Mortgage Rates and What Moves Them

Read MIDFLORIDA Credit Union's historical guide to mortgage rates: What moves them, and how to make smart home loan and refinancing decisions

Learn More

How Does the Federal Reserve Influence Interest Rates?

Learn how the Federal Reserve influences interest rates and how it affects your mortgage options. Discover when it's the best time to apply or refinance.

Learn More

Best neighborhoods in Tampa to consider living in

Tampa, FL, ranks as one of the best cities in the world. However, it pays to research the best neighborhoods in Tampa that fit your needs and lifestyle wants.

Learn More

Which city is better to live in, Bradenton or Sarasota?

Considering a move to Florida’s Gulf Coast? Two cities might top your list: Bradenton or Sarasota. Check out the benefits of living in Bradenton versus Sarasota

Learn More

Is Lakeland, Florida, expensive to live in?

The cost of living can be a big factor in Florida. A little city named Lakeland often comes up as an option. But is Lakeland, Florida, expensive to live in?

Learn More

Pros and cons of living in Winter Haven, FL

A Florida region that emphasizes natural environments, strong communities, and the arts—exploring the pros and cons of living in Winter Haven is worth exploring.

Learn More

Best suburbs to live in the Orlando area

Orlando is famous for its theme parks, vibrant cultural scene, and sunshine. Moreover, the Orlando suburbs have great housing and living options for everyone.

Learn More

Is Davenport, Florida, a good place to move to?

We’ve heard many clients asking us: Is Devenport, Florida, a good place to move to? Here's why Davenport is one of the most desirable places to buy a home.

Learn More

How much does it cost to live in Port St. Lucie?

Port St. Lucie is a sought-after location for those searching for a peaceful yet lively place to live. But how much does it cost to live in Port St. Lucie?

Learn More
1. MIDFLORIDA Credit Union Membership, eligibility, and credit approval required. Not available for mobile homes. A purchase price of $350,000 on a primary residence plus $52,500 in improvements, with a 20% down payment, would result in a loan amount of $322,000. Payment Example: A 30-year fixed rate mortgage on a primary residence with the minimum credit score of 700 at a rate of 7.750% and an Annual Percentage Rate (APR) of 7.901% has a monthly payment of $2,306.85 which includes principal and interest. Payment example does not include amounts for taxes or insurance premiums; the actual payment will be greater. Advertised terms are valid as of December 16, 2024, and subject to change without notice. Other conditions apply. Ask your mortgage loan officer for details. 

Still Have Questions?

Contact Us
Visit Us
Schedule appointment
Ask Kit