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Arizona escrow holdback renovation loan

Arizona Escrow Holdbacks and Renovation Loans

Are you looking to finance the cost of a new pool, upgrading cabinets or change out carpet in your Arizona home?  Did your appraiser require that certain repairs be completed prior to closing?  The HOUSE Team offers several different escrow holdback/renovation mortgage options that allow you to finance the cost of repairs/renovations into your home loan.

We offer several different escrow holdback options:

1. Basic Escrow Holdback (for simple repairs)
2. Homestyle Loan (Conventional loan for larger scope repairs)
3. Pool Holdback (program used to finance a new pool/landscaping)
4. Appraiser required escrow holdback (to manage appraiser required repairs after closing)
5. FHA escrow holdback (used to manage repairs required by an FHA appraiser)
6. Homepath Renovation (used for renovations to Homepath eligible/Fannie Mae foreclosed properties)
7. USDA Escrow Holdback (used for required repairs when borrower is using a USDA loan to qualify for a home)


In short, an escrow holdback/renovation loan enables a homeowner to add the cost of repairs or renovations to their home loan.  The homeowner’s Arizona mortgage lender then holds onto those extra funds after the loan closes.  The held back funds are then paid out to the contractor(s) performing the rehab work on the home as the work is completed.

The escrow holdback/renovation loan process involves additional steps and processes that your Arizona mortgage lender is responsible for.  A one man loan officer team will find it difficult to handle these extra steps in a manner that allows you to close on time.  Jeremy’s team is thoroughly trained to help make sure your escrow holdback/renovation loan is managed proactively which helps The HOUSE Team close your escrow holdback/renovation purchase or refinance close on time without surprises.

Who pays for the Escrow Holdback?

While the standard option is to have the buyer add the costs of repairs to their loan, there are three different ways that funds can be placed into an escrow holdback:

1. BUYER FUNDED – the buyer can fund the escrow holdback with their own money paid at closing (not allowed on VA loans).
2. SELLER FUNDED – the seller can fund the escrow holdback if they agree to pay for the repairs.
3. BUYER FINANCED – the buyer’s mortgage amount (amount they are borrowing) can be increased by the amount needed for an Escrow Holdback under certain conditions.

Each different Arizona escrow holdback/renovation loan type has a slightly different process and set of guidelines for an escrow holdback. Call Jeremy today for free information and to find out which option is right for you.

Jeremy’s Designated Escrow Holdback Team

Jeremy and PrimeLending have a whole team designated to process and expedite your escrow holdback. Jeremy works hand in hand with his corporate escrow holdback team to provide a quick and accurate escrow holdback approval for you. Call Jeremy today so he can help you understand how an escrow holdback can help you close on your home – 602.435.2149.