Are you currently looking to buy a "fixer-upper" or maybe you are house hunting and finding limited inventory in the housing market and cannot find a home that totally fits your ideal but would be perfect with minor renovations such as a new roof or kitchen—or even with a major makeover like a new addition? We can help. Philadelphia Mortgage Advisors offers several home renovation loan programs that can help you by combining renovation and purchase funds into one mortgage that allows you to purchase a home and perform repairs or upgrades to create your ideal home.

PMA's Renovation Loan features:

• Down payment as low as 3.5%.
• Conventional and FHA 15 & 30-year fixed and adjustable rate options available.
• Work is done to property after closing—financing is based on the as-completed value of the home.
• Can be used to purchase and refurbish condos, 2-4 unit properties and mixed-use properties.
• HUD and bank owned REO properties allowed.
• Gifts from family toward down payment allowed.

Minimum credit scores and loan limits apply. This is not a commitment to lend and not all applicants may qualify. Programs, rates, terms and conditions are subject to change without notice. Borrowers may use the loan to make any improvements that add value to the property and are permanently affixed. Most improvements and repairs are acceptable for financing; however, the following are ineligible in all cases: new detached living units, improvements intended for commercial/business use and non-permanent improvements.