Loan Options
Renovation financing: FHA 203(k) & HomeStyle®
Buy a fixer-upper or improve the home you own — with the purchase (or refinance) and the renovation costs rolled into one loan and one monthly payment.
How renovation loans work
Instead of financing a home and then scrambling for a construction loan or credit cards to fund repairs, a renovation loan qualifies you based on the home's value after improvements. Funds for the work are held in escrow and paid to contractors as the project progresses.
FHA 203(k)
- Limited 203(k): non-structural repairs and improvements up to program limits — kitchens, baths, flooring, roofing, systems
- Standard 203(k): larger and structural projects, including additions and major rehabilitation
- FHA credit flexibility and down payment rules apply
Fannie Mae HomeStyle®
- Conventional renovation financing for primary homes, second homes, and investment properties
- Covers nearly any permanent improvement that adds value, including luxury items 203(k) excludes
- Cancelable mortgage insurance rules follow conventional guidelines
A good fit if you
- Found a great house in the right location that needs work
- Want to modernize, expand, or improve accessibility in your current home
- Are buying a foreclosure or estate property being sold as-is
Renovation loans involve contractor bids, plan review, and draw inspections. We'll walk you through the timeline and requirements up front so there are no surprises mid-project.
Not sure which program fits? That's our job.
Talk with a licensed loan originator — no documents needed, no credit impact, no obligation.
Get Pre-Qualified Call (570) 207-6334