Loan program
Renovation
Renovation mortgages finance the purchase or refinance of a home plus eligible improvements in one loan.
What is a renovation loan?
A renovation mortgage finances the home and a defined renovation budget together. Instead of buying as-is and hunting for a separate improvement loan later, the project is underwritten up front and funds are drawn as work is completed.
Who is it for?
Buyers targeting a fixer, homeowners refinancing to remodel, and anyone who needs the finished value—not just the as-is value—to support the loan amount. FHA renovation and conventional renovation options each have their own rules.
How does the process work?
You collect contractor bids, a scope of work, and timelines. The lender orders appraisals that consider after-improved value when the program allows. During construction, inspections unlock draws. Contingency reserves are common.
What should we compare next?
If the work is light, a standard purchase plus cash on hand may be simpler. If the property will not qualify as-is for a standard loan, renovation is often where I would start.
Other programs worth comparing
Ready for the next step?
Start an application or book a call. I will help you compare what fits.