Program Basics

Q: What is MoveRevive™?
 MoveRevive™ allows qualified homebuyers to finance the purchase of a home AND eligible renovations together with one renovation loan. Instead of buying the home first and paying for improvements separately, eligible renovation costs are included in the financing.  

Q: What types of renovations can be financed?
Depending on the loan program and property, eligible improvements may include kitchens, bathrooms, flooring, roofing, HVAC, plumbing, electrical, structural repairs and many other improvements. Renovations must meet the requirements of the specific loan program.  

Q: What types of homes may qualify?
 MoveRevive™ may be available for a variety of properties, including homes that are dated, need repairs, are being sold “as-is,” or simply don't have the features a buyer wants. Property and renovation eligibility depend on the specific loan program.  

Q: Is the loan based on the home's current value or its value after renovations?  

Renovation financing may consider the home's expected value after the approved renovations are completed, often called the “as-completed” or “after-improved” value. The property is appraised based on the planned improvements, and the amount that can be financed is subject to the requirements and loan-to-value limits of the specific renovation loan program.  

For Homebuyers

Q: How much do I need for a down payment?
Down payment requirements vary by loan program. MoveRevive™ offers renovation financing options with low down payment requirements for qualified buyers. We'll help determine which option best fits your situation.  

Q: How are the renovation costs determined?
You'll work with a qualified contractor to develop the scope of work and estimates for the planned renovations. The approved renovation costs are then included as part of your renovation financing.

Q: Do I receive the renovation money at closing?
 No. Renovation funds are generally held after closing and released through a draw process as eligible work is completed. This helps ensure the funds are used for the approved renovations.  

Q: Can I choose my own contractor?
In many cases, yes. Your contractor will need to meet the requirements of the specific renovation loan program and provide the necessary estimates and documentation for approval.    

For Realtors®

Q: Which buyers or properties are good candidates?
MoveRevive™ may be a great option when a buyer likes a home's location or potential but the property needs repairs, is dated, is being sold “as-is,” or doesn't have the features the buyer wants.

Q: Can MoveRevive™ help with an “as-is” listing?
Yes. Renovation financing may allow a buyer to purchase an “as-is” property and finance eligible repairs or improvements as part of the loan, rather than requiring the seller to complete the work before closing.  

Q: Can renovation financing help a difficult-to-sell listing?
Yes. Homes that need repairs or updating can be difficult for some buyers to consider. MoveRevive™ may expand the pool of potential buyers by showing them a way to finance the purchase and eligible renovations together.    

Q: When should I contact Move Home Lending?
Ideally, before the buyer writes an offer. We can review the buyer, property and proposed renovations to help determine whether MoveRevive™ may be a fit and which renovation financing option may work best.