Home Loans to Build, Remodel or Renovate

GMFS offers flexible home construction loans that often are less costly than other financing options. Plus our processing, underwriting, and closing teams are all under the same roof making for smooth and predictable closings. Contact the home financing experts at GMFS.

One Time Close Construction Home Loan

  • Home construction loan
  • Min. Down Payment = 5% for primary residence. Land value may be used as a down payment on a refinance transaction.
  • Interest rate is capped on permanent loan
  • Interest only loan during construction for up to 9 months, then modifies to 15 or 30 year fixed rate loan once home is complete
  • Eligible for Primary residence or Second home
  • Borrower chooses contractor, subject to GMFS verification
  • GMFS Verified Builder List
  • One (1) closing with a simple modification process finalizes your rate and payment once construction completed

HomeStyle® Renovation Home Loan

  • Home renovation loan
  • Remodeling construction loan
  • Eligible for Primary residence or second home
  • PURCHASE =Finance the lesser of the purchase price plus renovation costs or the “as-completed” appraised value
  • Min. Down Payment = 5% for primary residence / 10% for second home / 3% for first time home buyer
  • REFINANCE = Finance up to 95% of the “as-completed” appraised value / 97% if existing mortgage is Fannie owned / 90% for second home
  • Interest rate is locked at close
  • Maximum renovation funds = 75% of the “as-completed” appraised value
  • Borrower chooses contractor, subject to GMFS Mortgage verification
  • GMFS Verified Builder List
  • Do-It-Yourself option in some limited scenarios
  • One (1) closing

HomeStyle® Energy Mortgage

Now offering HomeStyle Energy Mortgage!  This loan is designed for borrowers to make upgrades to reduce utility costs and improve the comfort and safety of their homes with protective improvements. May be used for upgrades to energy and water systems including solar, property improvements for better resilience to natural disasters, new windows and doors, and to pay off other energy-related debt.​


    • $500 credit to borrower at closing
    • Max LTV (1-unit owner occupied) up to 97%
    • Energy Related Financed Improvements
      • Up to 15% of “as completed” appraised property value
    • All 1-4 unit existing properties
    • All occupancy types permitted
    • Can be used to pay off other energy related financing
    • Max DTI per DU



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