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Renovation Loans

Transform your home with our renovation loan options. Finance your home improvements and purchase price with one convenient loan, making your dream home a reality.

Renovation Loan Types

FHA 203k Standard

Comprehensive renovation loan for major structural repairs and improvements. Perfect for homes needing significant work.

  • Up to $35,000 in repairs
  • 3.5% down payment
  • Structural repairs allowed
  • 6-month completion timeline
  • HUD consultant required
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FHA 203k Limited

Streamlined renovation loan for minor repairs and cosmetic improvements. Faster processing and less paperwork.

  • Up to $35,000 in repairs
  • 3.5% down payment
  • Cosmetic improvements only
  • 30-day completion timeline
  • No HUD consultant required
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Fannie Mae HomeStyle

Conventional renovation loan for borrowers with good credit. Flexible terms and competitive rates.

  • Up to 95% LTV
  • 5% down payment
  • Primary and investment properties
  • 12-month completion timeline
  • No consultant required
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VA Renovation Loan

Renovation financing for veterans and service members. No down payment required for eligible borrowers.

  • No down payment required
  • Up to 100% LTV
  • Primary residences only
  • 6-month completion timeline
  • Funding fee applies
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USDA Renovation Loan

Rural development renovation loan for eligible properties in designated rural areas.

  • No down payment required
  • Low interest rates
  • Rural areas only
  • Income limits apply
  • Primary residences only
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Jumbo Renovation Loan

High-value renovation financing for luxury properties that exceed conventional loan limits.

  • Higher loan amounts
  • Competitive rates
  • Luxury property renovations
  • Higher credit requirements
  • Larger down payment required
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Eligible Improvements

Structural Repairs

Foundation repairs, roof replacement, electrical and plumbing systems, HVAC installation, and structural modifications.

Cosmetic Improvements

Kitchen and bathroom remodels, flooring replacement, painting, landscaping, and interior/exterior updates.

Energy Efficiency

Solar panels, energy-efficient windows, insulation upgrades, smart home technology, and green building materials.

Accessibility

Wheelchair ramps, grab bars, widened doorways, accessible bathrooms, and other ADA-compliant modifications.

Safety & Security

Security systems, fire alarms, smoke detectors, storm shelters, and other safety-related improvements.

Exterior Improvements

Garage construction, driveway paving, fencing, decks, patios, and other outdoor living spaces.

Renovation Loan Process

1

Property Selection

Choose a property that needs renovation work and determine the scope of improvements needed.

2

Contractor Selection

Choose a licensed contractor and get detailed estimates for all renovation work.

3

Loan Application

Submit your renovation loan application with property details, contractor estimates, and financial information.

4

Property Appraisal

An appraisal will be conducted to determine the property's current value and after-improvement value.

5

Loan Approval

Once approved, you'll receive your loan estimate and closing disclosure with renovation escrow details.

6

Renovation Work

After closing, renovation work begins with funds disbursed according to the approved draw schedule.

Benefits of Renovation Loans

One Loan, One Payment

Finance both your home purchase and renovation costs with a single loan and monthly payment.

Increased Home Value

Improve your home's value and equity through strategic renovations and upgrades.

Customize Your Home

Transform a fixer-upper into your dream home with personalized improvements and upgrades.

Professional Work

Ensure quality workmanship with licensed contractors and proper oversight of renovation projects.

Faster Move-In

Complete renovations before moving in, avoiding the hassle of living in a construction zone.

Competitive Rates

Enjoy competitive interest rates on renovation loans, often similar to standard mortgage rates.

Ready to Transform Your Home?

Our renovation loan experts will help you find the perfect financing solution to turn your dream home into a reality.

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