Renovation Loan

Finance the upgrades your home needs, without the hassle of multiple loans.

Renovation loans are mortgages that allow you to finance both the purchase or refinance of a home and the cost of repairs or upgrades in one loan. Instead of paying for renovations out of pocket or taking out a separate loan, the funds are included in your mortgage and typically released as the work is completed. This makes it easier to buy a fixer-upper or improve your current home while keeping everything under one monthly payment.

Not all renovation loans are created equal—each program is built to fit different needs, timelines, and property types. Whether you're planning light updates or more significant improvements, these options let you finance your home and renovations together with one streamlined solution.
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Renovation Loans

HomeStyle Renovation Loan

You can use a HomeStyle renovation loan to cover costs of repairs, remodels, renovations or energy-efficient improvements on a primary residence, a second home or an investment property.


There are no required improvements or restrictions on the types of repairs allowed or a minimum dollar amount for the repairs. However, repairs or improvements must be permanently affixed to the real property, add value to the property, and be completed by a licensed contractor.

Limited 203(k) Rehabilitation

Mortgage

In addition to funding your new home, an FHA Limited 203(k) can provide up to $35,000 (including a contingency reserve) in additional funds to help make a few non-structural repairs or renovations such as updating a kitchen or bathroom, adding new flooring, purchasing new appliances, or repairing the roof.


Standard 203(k) Rehabilitation Mortgage

If your potential dream home needs more than $35,000 in renovations or the repairs are structural, the Standard FHA 203(k) might be the right solution. This program removes the restrictions of the limited option to allow for major home remodeling.



A Standard FHA 203(k) can provide additional funds* to help with eligible repairs including moving or removing walls, minor pool repairs, and landscaping.



*Final disbursement of funds is subject to final inspection.

Freddie Mac Choice Reno Xpress

Perfect for smaller projects, this streamlined conventional option lets you roll minor updates into your mortgage with a fast, simplified process, typically up to 10% of the home’s after-renovation value.

VA Renovation Loan

Eligible veterans and active-duty service members can buy or refinance and renovate with one loan. With up to 100% financing and flexible guidelines, it’s a powerful way to upgrade a home with little to no money out of pocket.

USDA Renovation Loan

Designed for eligible rural areas, this option allows qualified buyers to purchase and renovate with one mortgage. With up to 100% financing, it makes homeownership and improvements more accessible without a down payment.

One loan, one closing
Based on future value
Low-to-no down payment options
Access to more inventory
Customize the home upfront
Build equity faster
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Toni was awesome in helping me through the mortgage process, her patience and knowledge of the lending aspects were a tremendous help to me!!

- Kelly, Wilmington