Calculate Costs
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Build
The perfect home is a blueprint away
Explore flexible financing options for new construction, renovations, and everything in between
More ways to create the home you really want
Renovate
Make any home your own
Whether you’re staying put, buying a fixer-upper, or investing in potential, renovation financing can help you create the space you really want. It may be a fit if you:
- Want to buy a home, but not finding something that checks all your boxes
- Need more space and/or want some home updates, but don’t want to move
- Have found a home in a great location, but it needs some work
- See an investment opportunity in an older house
Build
Bring your dream home to life
When the right home doesn’t exist yet, building gives you the freedom to create a space designed around your lifestyle, location, and future. This may be the right path if you:
- Want to build a home designed around your lifestyle, needs, and vision
- Prefer a brand-new, modern home with fewer maintenance concerns
- Already own land and are ready to build on it
- Haven’t found the right home and don’t want to take on a major renovation project
Build or Renovate
Financing with a firm foundation
Whether you want to buy land and customize your home build from the ground up, or you want to transform a fixer-upper to an up-scale dream, CMG has the financing to pave the way.
Renovate
Fixer-Upper Financing
An FHA 203(k) loan is great option for turning a home with potential into the home you really want, with purchase and renovations combined into one loan.
3.5%
Min. Down Payment
- Flexible credit requirements
- Great for older homes needing updates
- Ideal for first-time buyers and budget-conscious projects
Renovate
Low Down Payment Renovations
Homestyle and CHOICERenovation offer flexible financing for home improvements whether you're buying a home or updating the one you already own.
3-5%
Min. Down Payment
- Low credit score requirement (600)
- Available for purchases and refinances
- Works for a wide range of improvement projects
Renovate
No Down Payment Renovation
Available for Veterans, active-duty military, reservists, National Guard, and surviving spouses.
0%
Min. Down Payment
- Low credit score requirement (580)
- Can combine purchase & renovation in one loan
- Can help make homes more accessible for disabled Veterans or service members
Build
A Smarter Way to Build
AIO C-Perm is designed to help borrowers save thousands on interest, start building equity immediately, and keep funds liquid long-term.
20%
Min. Down Payment
- One loan for construction + mortgage
- Supports bigger home projects (up to $3 million)
- Includes integrated sweep-checking account features
Build
Construction Financing with Flexible Closings
Conventional 2xC Construction loan is a flexible option for borrowers who want separate financing phases for construction and long-term homeownership.
10%
Min. Down Payment
- Separate construction and permanent financing
- May include lot purchase financing
- Flexible path for custom home building
- Eligible for primary and second homes
Build
Financing for Larger Home Building Projects
Jumbo 2xC is good for higher-budget custom homes, vacation properties, and larger construction projects.
20%
Min. Down Payment
- Eligible for new construction or renovations
- Eligible for second homes
- Great for custom and luxury builds (up to $1.5 million)
Getting Started
FAQ
Frequently Asked Questions
We’re here to help! Find answers to your everyday banking questions.
Yes. Renovation financing can allow eligible borrowers to combine the home purchase and renovation costs into one loan, making it easier to buy a home that needs work and finance updates at the same time.
An FHA 203(k) loan is designed for buyers who want to purchase a fixer-upper and finance eligible renovations through one mortgage. It can be a strong fit for older homes, first-time buyers, and budget-conscious renovation projects.
Yes. Some renovation loan options may be used for refinancing and improving a home you already own, not just buying a new property.
HomeStyle Renovation and CHOICERenovation loans may offer low down payment options for eligible borrowers who want to finance home improvements when buying or refinancing.
Eligible Veterans, active-duty service members, reservists, National Guard members, and surviving spouses may qualify for a VA renovation option with no down payment.
Yes. Construction financing can help eligible borrowers build a new home from the ground up, including custom homes designed around their lifestyle, location, and long-term needs.
Some construction loan options may include lot purchase financing, giving borrowers a path to buy land and build a new home.
A construction-to-permanent loan combines construction financing and long-term mortgage financing into one loan structure, helping streamline the path from building to homeownership.
A one-time close construction loan combines construction and permanent financing into one loan, while a two-time close construction loan uses separate financing phases for construction and the long-term mortgage.
Yes. Jumbo construction financing may be available for higher-budget custom homes, luxury builds, second homes, and larger construction or renovation projects.
Down payment requirements vary by program. The page includes renovation options starting as low as 0%, 3.5%, or 3–5% down, while construction options shown range from 10% to 20% down.
Renovation financing may be a better fit if you like the location, already own a home, or found a fixer-upper with potential. Construction financing may be a better fit if you want a new home designed around your lifestyle or already own land you want to build on.
Resources
Which Renovations Have the Highest ROI?
How to pick the smartest renovations
Save More While You Build
Explore the new way to build a home that could save you thousands