Simple Renovation Financing
The Sebonic Way.
Whether you’re flipping a fixer-upper, dreaming of a remodel, or contemplating any size project in between, we can help you make it happen with flexible reno loans and an easy, breezy process.
Get in touch with our reno team.
It's fast, free, and easy.
Reasons to Reno
Where do we start?
- Favorable terms and interest rates available
- Customize a home for less than a new build
- Boost your curb appeal when it’s time to sell
- Leverage the after-improved value of the home for the loan
- Only pay one set of closing costs
- Do it all within a mortgage instead of a credit card or other forms of unsecured debt
The Process, Explained
We're with you every step of the way.
Step 1: Qualification
You submit documentation to see if you qualify for renovation financing.
Step 2: Contractor Selection
You select a professional contractor to execute renovation plans.
Step 3: Contractor Validation
Cardinal Financial vets your choice of a home improvement professional.
Step 4: Project Approval
Cardinal Financial reviews your renovation details to make sure they meet our loan standards.
Step 5: Underwriting
Before moving the loan forward, our underwriting team will review all the information provided.
Step 6: Closing
Once the loan is approved, you set up a closing date with us.
Step 7: Set Up LIP Account
After closing, funds will be held in an LIP (loan in process) account.
Step 8: Draw Funds
During construction, the contractor or HUD consultant will request to draw funds as needed.
Step 9: Complete Renovations
Renovations must be completed within six months of the loan closing date.
Introducing EasyPath Reno
No contractor required.
Have a smaller-scale renovation project in mind? Consider our EasyPath Reno process, which allows you to utilize select big box retailers like The Home Depot, Lowe’s, and Menards for standard upgrades with CHOICERenovation® and CHOICEReno® eXPress products.
Keep the benefits of leveraging your mortgage with renovation financing—and the convenience of leveraging your favorite retailer for the renovations.
