Buy it. Fix it. Love it.
We're here to help!
Found the perfect location but the home needs some work? Renovation loans allow you to finance both the purchase price and the cost of upgrades or repairs in a single mortgage. Whether you're restoring charm, updating for function, or adding value, our team will help you fund the vision—without the headache of separate financing.
What is a Renovation Loan?
A renovation loan allows borrowers to finance the cost of home improvements or repairs into their mortgage—either when purchasing a home or refinancing an existing one. Instead of taking out a separate loan or using high-interest credit, you can roll qualified renovation costs into one streamlined loan.
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There are several types of renovation loans, including FHA 203(k), Fannie Mae HomeStyle®, and VA renovation loans. These programs can cover a wide range of projects, from cosmetic upgrades to structural repairs, helping you turn a “fixer-upper” into your forever home.
Renovation Loan FAQs
1
Can I use a renovation loan for any type of improvement?
Most loans cover both minor and major repairs, but luxury upgrades like pools may not be eligible. We’ll help you understand what’s allowed under each program.
2
Do I need to own the home first to qualify for a renovation loan?
Not necessarily. Many renovation loan programs are designed for buyers purchasing a home that needs work—so you can close on the home and fund the renovations with a single loan.
3
How are renovation funds distributed?
After closing, funds for repairs are held in escrow and paid out to contractors as the work is completed and inspected.
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