Renovation Loans

for Your Current or Prospective Home

  • Renovation loans are specialized financing options that allow homeowners to fund home improvements, repairs, or upgrades by incorporating the costs into a single mortgage.

  • These loans are ideal for purchasing fixer-uppers or updating existing homes.

  • Common types include FHA 203(k) loans, which offer government-backed support for renovations, and Fannie Mae's HomeStyle loans, which provide flexibility for various projects.

  • Renovation loans cover structural and cosmetic changes, enabling borrowers to enhance property value and functionality.

  • Typically requires detailed project plans and cost estimates.

  • By bundling purchase and renovation costs, these loans simplify financing and can lead to increased home equity.

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