Purchase • Refinance
Renovation Loans
Buy a fixer or refinance and roll improvements into one loan—FHA 203(k) and more.
Why Renovation?
- Finance purchase + improvements together
- Great for homes needing updates or repairs
- Flexible project scopes with contractor bids
- Potentially higher after-improved value
Eligibility at a glance
- Primary residence (some programs allow 2-4 units)
- Licensed contractor & written bids required
- HUD consultant required for certain FHA 203(k)
- Credit, DTI and LTV per program guidelines
Rate, APR & Payment (example)
Sample: $450,000 total loan, 30-yr fixed. APR includes certain credit costs; note rate calculates P&I only. Taxes, insurance, and any MI not included. Illustrative only; not a lock/commitment.
FAQs
Can I DIY the work?
Programs typically require licensed contractors; some allow limited self-help with restrictions.
How is the rehab money released?
Funds are held in escrow and disbursed in draws as work is completed.
How long does it take?
Timelines vary by scope and inspections; we’ll outline milestones up front.
Disclosures:
Availability and terms vary by program and project scope. Underwriting approval required. Not a commitment to lend.