Renovation Loan
Finance upgrades. Simple process.
Renovation Loans allow borrowers to finance home improvements and repairs as part of their mortgage, making it easier to upgrade or customize a property.


Renovation Loan
features
Renovation Loan
Benefits
A renovation loan allows home improvements to be spread out over time instead of paying all costs upfront.
Transform underutilized spaces or update outdated features to create a home that better fits your needs.
Upgrades and renovations can boost the overall market value of your home, providing long-term financial benefits.
Renovation loans bundle both the purchase and renovation costs into a single loan, simplifying the budgeting and payment process by eliminating the need for.
FAQs
Renovation loan processes often take longer than standard loans—sometimes 45 to 60 days—because they require extra steps to review project plans and contractor bids.
For a renovation loan, you’ll need the standard income and asset documents, plus estimates or bids from licensed contractors. Lenders also require detailed renovation plans to approve the financing.
Yes. Renovation loans require an appraisal that considers both the home’s current value and its expected value after renovations, which helps determine the loan amount you can qualify for.
To qualify for a renovation loan, eligibility depends on your credit, income, and debt-to-income ratio. Renovation loans are designed for borrowers who want to purchase a home that needs repairs and have the financial ability to manage the project.
A renovation loan is a single loan that lets you finance both the purchase of a home and the cost of repairs or upgrades. This can be helpful if you’re buying a fixer-upper.
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