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Conventional · HomeStyle Renovation Refinance

Conventional Renovation HomeStyle Refinance Loan Payment Calculator

Refinance and fund your renovation in one loan. Estimate total project cost, your loan amount, monthly payment, and the cash needed based on the after-repair value.

Built by Jim Blackburn · NMLS #1072866 · $500M+ closed · 7× Scotsman Guide Top Producer

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Estimate all labor and material costs.

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Estimate with sold comps in the last 6 months within a mile.

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Are you thinking about buying another home after this one to continue your wealth journey?

Summary

Total Monthly Housing Expense$3,794
Cash Out of Pocket — without lender credit$98,964Compare lender credits at a higher rate vs. a lower rate, especially if you may sell or refinance within 5 years.

Project Cost Buildup

Total Property Costs$510,000Payoff + renovation costs + 10% contingency reserve.
6 Months Interest Reserves$17,850Prepaid interest for 6 months. No payments due during construction.
Total Financeable Allowable Costs$548,964Property costs + interest reserves + 4% estimated closing costs.

Loan & Payment

Maximum Loan Amount (LTV)$450,00075% of ARV, subject to conventional conforming loan limits.
Desired Loan Amount$450,000Cannot exceed the maximum loan amount. Increase the ARV to increase the loan amount.
Principal & Interest Payment$2,994
Monthly Insurance$300
Monthly Taxes$500
HOA Paid Separately$0
Monthly Income Target to Qualify$7,588Fannie Mae allows up to 50% DTI; Freddie Mac up to 45% with strong credit and reserves.
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By Jim Blackburn

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Important Disclaimer

This calculator is for illustrative purposes only and does not constitute financial, legal, or investment advice. Results are based on general assumptions and may not reflect actual performance or eligibility. This is not a loan estimate or approval. Please consult with a licensed mortgage advisor before making financial decisions.

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