Remodeling is hard enough. We make paying for it easier.

Check out our financing options

30-Year Fixed Custom ConstructionDetails
4.250%
4.435% APR
3-Year Adjustable Rate MortgageDetails
2.250%
3.084% APR

Maybe you bought a fixer-upper and are ready to dive in. Or maybe what was “quaint” now seems a little tired. Either way, you’ve decided to remodel.

How you pay for it depends largely on the size of your project and the amount of equity you’ve built in your home. We offer two basic options:

Tap into your home’s equity.

If your project is limited to one room or a simple upgrade, borrowing against your home equity may be the perfect solution. Washington Federal offers three flexible options:

  • Home equity line of credit: You establish a maximum available line, but draw out only what you need. You must make at least interest-only payments, but can pay back the principal over time or in a lump sum. (Not available in Texas.)
  • Additional advance: If your first mortgage is already with Washington Federal, than an additional advance lets you borrow one lump sum by adding it to the balance of your existing home loan.
  • Cash-back refinancing: If you have substantial home equity, Washington Federal offers both cash-back refinances and first mortgages based on the tax-assessed value of your home.

Finance major projects with a construction remodel loan.

Large remodeling projects will usually out-strip your available home equity. So if you want to add a second story or gut a kitchen, our All-in-One Construction Remodeling Loan is the answer.

  • The loan is based on the value of your home after improvements.
  • To determine that value up-front, we order an appraisal based on your architectural plans.
  • You can lock in your interest rate for up to 90 days.
  • Rest easy knowing you have a single, fixed-rate mortgage.
  • Make interest-only payments during construction, with no change in your interest rate after the work is completed. Your loan simply converts to a standard mortgage.
  • Borrow up to 80% loan-to-value based on construction and land costs.

For more tips on financing remodeling, visit our blog. Or ask us to run the numbers for you. Start a conversation today. Search above for the branch manager nearest you, or call toll-free at 1-800-324-9375.

Loan programs and terms are subject to credit approval.