Renovation Loans

F Purchase p Refinance Apply Today

Have you found a home to purchase in the perfect location, but it needs some updates? Do you own your home but are starting to outgrow your space? Want to remodel your kitchen or add a pool? Our ETFCU renovation loan would be perfect for you to accomplish all your fixer-upper needs! This loan is designed for those who want to purchase or refinance with repairs or improvements having only one loan and one closing.

  • Finance up to 95% of appraisal value subject to the home improvements
  • For loan amounts up to $484,350 or less1
  • Primary residence and 1-unit single family dwellings only
  • Available with 3/1, 5/1, 7/1, and 10/1 adjustable rate mortgage (ARM) options
  • Available for 15, 20, and 30-year fixed conventional terms
  • Cosmetic and structural renovations are permitted
  • Must have itemized bid, plans, and specifications for the renovation
  • Renovation must be completed by a licensed general contractor2

Our renovation loan is designed specifically with the needs of you, the homebuyer in mind. For more information, contact ETFCU today at (812) 469-9928 or 1-800-800-9271.

Apply for a renovation loan today! Apply Today
What information will ETFCU need to process my application?
  • Prior two years addresses and dates of residence.
  • Social Security number or tax ID.
  • Driver’s license or state issued identification card.
  • Prior two years employment information including employer contact and dates of employment.
  • Most recent W2 and pay stub for all income sources.
  • Two years federal tax returns, including tax applicable schedules if you are self-employed, have rental income, farm income or additional non-W2 reported income.
  • Alimony, child support or separate maintenance documentation if you wish to have it considered as basis for repaying this obligation.
  • Additional information may be required such as Divorce decree (if applicable) and/or proof of extra income such as rental income, dividends, Social Security, retirement, disability, pension, or welfare (supporting documentation is required).
  • Balance owed on all liens attached to the property including all mortgages as well as any home equity loans or lines of credit.
  • Most recent mortgage statement (if applicable).
  • Most recent property tax bill.
  • Most recent hazard insurance declaration page.
  • Most recent flood insurance declaration page (if applicable).

1Up to 95% LTV determined by appraisal subject to improvements. 2The contractor must be approved by ETFCU. Principal and interest payment begins at the closing of the loan. Construction administration fees may apply.