Renovation Loan
Buy and renovate with a single loan.
Renovation loans let you finance both the purchase (or refinance) and the cost of renovations in a single mortgage. No second loan, no separate contractor financing, and no credit card debt. Programs include FHA 203(k) and Fannie Mae HomeStyle.
Explore Renovation OptionsKey Features
- Purchase + renovation in a single loan
- FHA 203(k): 3.5% down, FHA credit guidelines
- HomeStyle: 5% down, conventional guidelines
- Renovation costs rolled into your mortgage
- No separate construction financing needed
- Improvements can increase property value immediately
Who It Is For
Renovation loans are ideal for buyers looking at fixer-uppers, homeowners who want to refinance and renovate, or anyone who wants to buy a home and immediately make improvements without paying out of pocket.
These programs are especially useful in competitive markets where renovated homes sell at a premium. Buy an unrenovated home at a lower price, renovate with your loan, and your property value may increase from day one.
Explore Related
Found a fixer-upper with potential?
Austin can help you structure a renovation loan to finance both the purchase and the updates.