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First Community has partnered with RenoFi to give homeowners a one-stop-shop for home renovation loans and everything in between.
Whether it’s pinning down a budget, setting a project timeline or vetting contractors, we’ve got solutions every step of the way. This exclusive partnership offers convenient solutions that allow homeowners to maximize their borrowing power, get the most money out of their home and skip the hassle of refinancing at a higher monthly payment.
No Pre-Payment Penalty
Borrow up to 90% of the after-renovation value of your home
No Refinancing Required
Find Out How Much You Can Borrow:
Traditional Home Renovation Loan
| Home value | $200,000 |
| Remaining balance of home loan | -$150,000 |
| Home Value after remaining balance | $50,000 |
| 90% of home value eligible to borrow | x .90(90%) |
| Total available to borrow for improvements | $45,000 |
FCCU Home Renovation Loan
| Home Value | $200,000 |
| Improvement Value | +$30,0002 |
| Home Value with Improvements | $230,0002 |
| 90% of home value eligible to borrow | x .90 (90%) |
| Existing balance of home loan | -$150,000 |
| Total available to borrow for improvements | $57,0002 |
Jumbo Loans
If you're looking for your dream home, Jumbo loans allow you to have the space you need.
Educators Loans
You give so much to everyone, let us give back to you with this home loan.
100% Financing
For well qualified members wanting to keep their liquidity in savings.
24 Month Bank Statement
Homeownership for self-employed and business owners.
Other
For when you to build your home or take out equity on your current home.
1APR = Annual Percentage Rate. Membership with First Community Credit Union (FCCU) must be established and considered “in good standing”. FCCU home loan programs are only available Homestead properties located in Texas. All loans are subject to credit approval and FCCU lending policies. Other restrictions may apply. Loan amount may not exceed $350,000. 2A sample loan payment for a Future Home Improvement Loan based on $75,000 at 7.24% APR for 5 years = $1,493.60. Payment example does not include amounts for taxes and insurance premiums, and if applicable, the actual payment obligation will be greater. Rates, terms and conditions are subject to change at any time without notice. Texas homestead properties are limited to 90% of the loan to future market value, less the first mortgage owed. Property insurance is required, including flood insurance where applicable. The approval is subject to application, credit qualification, and income verification; additional evaluation and verification criteria may apply. Consult with a tax advisor regarding the deductibility of interest.