Home Loans to Build, Remodel or Renovate

Build, repair or renovate your dream home with a construction loan from GMFS Mortgage!  Want to build your dream home from the ground up? Need to repair or renovate your current, next or second house? Wanting home resilience or energy improvements?

GMFS Mortgage offers flexible home construction loans that often are less costly than other financing options, including: One Time Close Construction Loan, USDA One Time Close Construction Loan, HomeStyle Renovation Loan and HomeStyle Energy Mortgage.

Our processing, underwriting, and closing teams are all under the same roof making for smooth and predictable closings.
Let the experts at GMFS Mortgage help you finance to build a house or remodel a home.

GMFS has helped over 2,400 families with construction or renovation loans! 

Get Started with GMFS Mortgage

One Time Close Construction Home Loan

  • A home construction mortgage that offers one closing for your construction loan and permanent financing
  • Min. Down Payment = 5% for primary residence. Land value may be used as a down payment on a refinance transaction.
  • Interest rate is capped on permanent loan
  • Interest only loan during construction for up to 9 months, then modifies to 15 or 30 year fixed rate loan once home is complete
  • Eligible for Primary residence or Second home
  • Borrower chooses contractor, subject to GMFS Mortgage verification
  • GMFS Mortgage Verified Builder List
  • A simple modification process finalizes your rate and payment once construction completed

USDA One Time Close Construction Loan

  • New home construction loan that offers 100% financing meaning
  • Min. Down Payment = 0% (100% financing option per USDA guidelines, excludes applicable closing costs)
  • Interest rate is locked at close
  • 30 year fixed rate loan
  • For primary residences only that are eligible per USDA Property Eligibility Site
  • Standard USDA loan limits apply and are calculated based on the property’s “subject to” value
  • Borrower chooses contractor, subject to GMFS Mortgage verification
  • GMFS Mortgage Verified Builder List
  • One (1) closing
  • Payment reserve established at closing to make payments on your behalf during construction phase

HomeStyle® Renovation Home Loans

  • Home renovation loan to renovate and rehab a new or existing home
  • Remodeling construction loan
  • Eligible for Primary residence or second home
  • PURCHASE =Finance the lesser of the purchase price plus renovation costs or the “as-completed” appraised value
  • Min. Down Payment = 5% for primary residence / 10% for second home / 3% for first time home buyer
  • REFINANCE = Finance up to 95% of the “as-completed” appraised value / 97% if existing mortgage is Fannie owned / 90% for second home
  • Rate is locked up-front with no modification once renovations are complete
  • Maximum renovation funds = 75% of the “as-completed” appraised value
  • Borrower chooses contractor, subject to GMFS Mortgage verification
  • GMFS Mortgage Verified Builder List
  • Do-It-Yourself option in some limited scenarios
  • One (1) closing

HomeStyle® Energy Mortgage

  • Upgrade the energy and/or water efficiency of an existing property including solar energy, protective improvements from natural disasters, new windows and doors
  • $500 credit at closing 
  • Mortgage can be used to pay off other energy related financing
  • Save on future utility and repair costs
  • Potentially lower interest rates compared to other forms of financing
  • Max LTV (1-unit owner occupied) up to 97%
  • Energy related financed improvements up to 15% of “as completed” appraised property value


Approved Improvements to Protect Home from Natural Disasters:

  • Storm surge barriers
  • Foundation retrofitting for earthquakes
  • Hazardous brush and tree removal in fire zones
  • Retaining walls to address mud or water flows


No Energy Report Required / Energy Report Waivers:

  • Radon Remediation – installation covered
  • ENERGY STAR – certified products
  • Basic weatherization and water efficiency items up to $3,500
  • Water efficient devices
  • Renewable energy sources including solar panels, wind power, geothermal systems
  • Environmental hazard damage repairs or protective improvements

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Meet Our Construction & Renovation Lending Team

Caroline Guba new construction loan specialist

Caroline Guba, Construction Department Team Lead

[email protected]
Celebrating 6 years at GMFS Mortgage!

Chris Savage

Chris Savage, Construction Loan Specialist

[email protected]
Celebrating 8 years at GMFS Mortgage!
NMLS #1873522

Christian Gordon New Construction Loan Specialist

Christian Gordon, New Construction Loan Specialist

[email protected]
Celebrating 3 years at GMFS Mortgage!

Megan Scott, Construction Loan Department Manager

[email protected]
Celebrating 8 years at GMFS Mortgage!

Ginger LeBlanc, Modification Specialist

[email protected]
Celebrating 1 year at GMFS Mortgage!

Educational Resources


Our avg. customer feedback rating = 4.8 stars! Experience for yourself why so many of our customers and partners refer GMFS Mortgage to their family, friends and clients!


Over 150,000 customers and $30 billion in residential mortgage funding in 23 states


Processing, underwriting, and closing under same roof means smooth & predictable closings


A+ rating with BBB and winner of Torch Award for Marketplace Trust


GMFS staff has an avg. of 14+ years of mortgage industry experience

*Not a commitment to lend.  All loans subject to credit and property approval.  The following terms are for illustrative purposes only.  Rates, payments, and loans terms vary by consumer based on their individual qualifying information.   The payment amount illustrated does not include the amounts for taxes, property insurance, or mortgage insurance. 

Loan Term Down Payment Annual Percentage Rate Estimated Monthly Payment
30 year fixed rate 10% (90% LTV) 4.75% $1,043