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Colin Powers

NMLS ID 20521

732-530-8400 cpowers@navesinkloans.com

Construction Loans

Looking to build a customized residence to meet your personal needs? At Navesink Home Loans, LLC, we offer a construction to permanent loan program that provides the convenience of a one-time application and closing feature.

We have a variety of programs including Fannie Mae™ Homestyle® Renovation Mortgage, FHA Standard 203(k), and FHA Limited 203(k)

The HomeStyle® Renovation mortgage provides a convenient and flexible way for borrowers considering home improvements to make repairs and renovations with a first mortgage, rather than a second mortgage, home equity line of credit, or other more costly methods of financing.

  • One- to four-unit principal residences, one-unit second homes, or one-unit investment properties, including units in condos, co-ops, and PUDs.
  • Any type of renovation or repair is eligible, as long as it is permanently affixed to the property. Renovations should be completed within a twelve-month period from the date the mortgage loan is delivered.

The FHA Standard 203(k) fills a unique and important need for homebuyers. When buying a house that needs repair or modernization, homebuyers usually have to follow a complicated and costly process. The interim acquisition and improvement loans often have relatively high interest rates, short repayment terms and a balloon payment. However, Standard 203(k) offers a solution that helps both borrowers and lenders, insuring a single, long term, fixed or adjustable rate loan that covers both the acquisition and rehabilitation of a property. Standard 203(k) insured loans save borrowers time and money. They also protect the lender by allowing them to have the loan insured even before the condition and value of the property may offer adequate security.

FHA's Limited 203(k) program permits homebuyers and homeowners to finance up to $35,000 into their mortgage to repair, improve, or upgrade their home. Homebuyers and homeowners can quickly and easily tap into cash to pay for property repairs or improvements, such as those identified by a home inspector or an FHA appraiser. Homeowners can make property repairs, improvements, or prepare their home for sale.  Homebuyers can make their new home move-in ready by remodeling the kitchen, painting the interior or purchasing new carpet.


  • Easy one-step financing takes care of everything you need, including both the construction and permanent mortgages. 
  • Lower interest only monthly payments during construction that converts to your permanent mortgage after construction. 
  • Available for owner-occupants, second home buyers and State of Hawaii resident investors.
  • Permanent Fixed Rate and Adjustable Rate Mortgages available 
  • One-time closing 
  • Interest reserve payment option available 
  • No prepayment penalty 
  • Loans up to $4,000,000 for owner-occupants 
  • Local processing, underwriting and servicing