Home Renovation Loans

Now you can have your home and remodel it too

Our in-house Purchase and Renovate Program provides home renovation loans that offer the funding to purchase (or refinance) your home and remodel at the same time. Whether you just bought a fixer-upper and need a flexible mortgage to handle up-front repairs, or you want to refinance your home to borrow for an addition, WesBanco home improvement loans can help. Our local loan officers will walk you through every step of the process to make sure you’re comfortable and understand how the financing works. Here is what you can expect with our renovation loan options:

Flexibility: purchase and renovate, refinance and renovate

When buying a fixer-upper, we provide financing for the purchase of the house and the funds needed for repairs or renovations. Renovations may be to the existing home or an addition to the existing home such as a garage. When you want to make home improvements on a property you already own, we provide refinance funds to pay off an existing loan (if necessary) and cover renovations to the home.

One-time close

The guidelines for the home rehabilitation/renovation loan program are the same as one-time close “construction-to-permanent” loans. The rate and term are set at the time of application and carry through to the completion of the dwelling and then on to the permanent amortizing loan.

Interest-only payments during 6-month construction period

During the 6-month construction period the borrower makes interest-only payments based on the total principal balance outstanding during the billing period. You will also be responsible for real estate related taxes, homeowner’s insurance, flood insurance (if applicable) and private mortgage insurance (if applicable) in escrow.

Funds to cover major and minor renovations

Once your home improvement loan is approved, you can start making the changes you want to create your dream house. Renovation mortgages can be leveraged to cover large projects as well as cosmetic updates, so you know your full home remodel is covered with the loan.

Potential major renovations:

• Replacing HVAC systems or central air
• Fixing foundations
• Replacing the roof
• Installing new plumbing, sewer lines or wiring
• Replacement windows
• Installing new or refacing existing kitchen cabinets
• Replacing doors
• Painting the exterior
• Adding a deck
• Kitchen and bath remodels (affixed appliances only)
• Building garages and additions

Potential minor renovations:

• Patching and painting walls
• Refinishing floors
• Laying tile or carpet
• Installing light fixtures and switches
• Fixing broken windows