Home Renovation Loans in Michigan

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800-390-7536

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Renovation Loan in Michigan

Normandy’s Renovation Loan program is structured for Michigan borrowers who need to move efficiently. Pre-qualification is typically completed in 3 to 5 business days; closing typically within 30 days for qualifying borrowers. Fast-track closings in approximately 14 days are available when certain criteria are met.

Michigan’s older housing stock — particularly in Metro Detroit, Flint, Lansing, and mid-sized cities — creates consistent demand for renovation and remodel financing from homeowners upgrading aging properties.

Loan amounts from $95,000 to $5,000,000. Up to 85% of appraised value for owner-occupied conforming amounts. Foreign nationals are eligible.  Borrower may act as own GC or hire a qualified builder. No site supervisor required. Non-owner occupied allowed.

To start on home renovation loan in Michigan, visit https://normandy.com/renovation-loans/ or call 800-390-7536. All loan programs: https://normandy.com/.

General Guidelines*

  • Loan amounts from $95,000 to $5,000,000
  • Loan amounts up to 85% of the appraised value on single family, owner occupied, full income documentation, conforming loan amounts up to $832,750.  Loan amounts over $1M, up to 80% of appraised value may be considered. Cross collateralization allowed on other properties, if needed, for maximum or greater loan amounts.
  • Lender will advance up to 75% of the purchase price towards the acquisition of a property
  • Foreign Nationals are eligible for this program
  • Deal directly with the Loan Officer/Underwriter
  • Fast pre-qualification, typically within 3 – 5 business days, closing typically within 30 days (fast track closings in 14 +/- days available if certain criteria is met)
  • Loans are available to Borrowers with excellent to less than perfect credit (subject to underwriting)
  • Flexible draw schedules
  • 1 to 4 family homes, refer to Commercial Construction for more than 4 units
  • 12 month construction term with extensions available
  • Interest only payments based on funds advanced
  • Borrower may act as own General Contractor or hire a qualified builder. No site supervisor required.
    *All rates and terms subject to change without notice

For a Rate and Fees quote call

800-390-7536

PRE QUALIFY NOW (Consumer Use Only)

Michigan Construction Market & Regulatory Overview

Michigan’s construction market covers a wide range — urban infill and suburban development in Greater Detroit and Grand Rapids, lakefront custom builds throughout both Peninsulas, and resort community construction in Northern Michigan.

Building Code: Michigan Residential Code (MRC), based on the International Residential Code with Michigan-specific amendments.

Permitting: Permits are issued at the local municipality level. All residential construction must comply with the MRC and applicable local amendments.

Key construction considerations in Michigan include cold winters with frost-line foundation requirements, freeze-thaw cycles, and lake-effect weather patterns along Great Lakes shorelines. Normandy’s underwriting team works directly with borrowers — you deal with the loan officer and underwriter, not a call center.

Contractor Licensing in Michigan

Michigan requires residential builders to hold a Residential Builder license through LARA (Department of Licensing and Regulatory Affairs). Maintenance and alteration contractors are separately licensed.

Owner-Builder Note: Michigan permits homeowners to act as their own general contractor for a personal-use residence, but requires personal participation in the work and prohibits building for resale under the owner-builder exemption.

Loans Available in the Following States

Owner Occupied

Loans available for owner occupied properties in the following states:

  1. California (CA)
  2. Connecticut (CT)
  3. Delaware (DE)
  4. Florida (FL)
  5. Iowa (IA)
  6. Massachusetts (MA)
  7. Michigan (MI)
  8. North Carolina (NC)
  9. New Jersey (NJ)
  10. New York (NY)
  11. Oregon (OR)
  12. Rhode Island (RI)
  13. Virginia (VA)
  14. Washington (WA)

Non-Owner Occupied

Loans available for non-owner occupied properties only:

  1. Alaska (AK)
  2. Alabama (AL)
  3. California (CA)
  4. Colorado (CO)
  5. Connecticut (CT)
  6. Delaware (DE)
  7. Florida (FL)
  8. Georgia (GA)
  9. Hawaii (HI)
  10. Iowa (IA)
  11. Idaho (ID)
  12. Indiana (IN)
  13. Kansas (KS)
  14. Kentucky (KY)
  15. Massachusetts (MA)
  16. Michigan (MI)
  17. Maryland (MD)
  18. Maine (ME)
  19. Missouri (MO)
  20. Mississippi (MS)
  21. Montana (MT)
  22. North Carolina (NC)
  23. New Jersey (NJ)
  24. Nebraska (NE)
  25. New Mexico (NM)
  26. New York (NY)
  27. Ohio (OH)
  28. Oklahoma (OK)
  29. Oregon (OR)
  30. Pennsylvania (PA)
  31. Rhode Island (RI)
  32. South Carolina (SC)
  33. Tennessee (TN)
  34. Utah (UT)
  35. Virginia (VA)
  36. Washington (WA)
  37. West Virginia (WV)
  38. Wyoming (WY)

Frequently Asked Questions — Renovation Loan in Michigan

Q: What is a home renovation loan in Michigan?

A: A home renovation loan in Michigan is financing for renovating, expanding, or improving a residential property you own or are purchasing. Normandy disburses funds in draws as work progresses. Interest-only payments on advanced funds during the 12-month term.

Q: What does home improvement loan financing cover in Michigan?

A: Home improvement loan financing in Michigan through Normandy covers kitchen and bathroom remodels, structural additions, ADU construction, and full property renovations. Loan amounts from $95,000 to $5,000,000. Up to 85% of appraised value for owner-occupied conforming amounts.

Q: Is renovation financing in Michigan available for non-owner occupied properties?

A: Yes. Normandy’s renovation financing in Michigan covers both owner-occupied and non-owner occupied 1–4 family residential properties. Please call 800-390-7536 for LTV specifics on non-owner occupied applications.

Q: What is a fixer upper loan in Michigan?

A: A fixer upper loan in Michigan through Normandy lets you purchase and renovate a property under one loan. Normandy can advance up to 75% of the purchase price toward acquisition, with renovation funds disbursed in draws as work progresses.

Q: Can I be my own contractor for a remodel loan in Michigan?

A: Yes. Normandy allows borrowers to act as their own GC under the renovation loan program in Michigan. No site supervisor is required. You may also hire a qualified builder. Confirm your project qualifies before applying

Draw Request Submitted

Thank you for requesting a draw.  You will receive an email or call confirming your draw request has been received within 1 business day.  If you do not receive confirmation, please contact our office at 800-390-7536.  Please notify us of any changes you wish to make to your request.  

Normandy Corporation

Thank you for scheduling your payment.  You should receive an email confirmation of payment within 1 business day.  If you do not receive a confirmation email within 1 business day, please call our office to confirm at 800-390-7536.