Can I finance a fixer-upper?
Yes. Renovation loans like the FHA 203(k) and Fannie Mae HomeStyle let you finance the purchase plus the cost of repairs in one mortgage, based on the home's after-renovation value.
It's ideal for homes that need work before they'd pass a standard appraisal. We'll structure a renovation loan so the repairs are built into your financing.
Renovation loans exist
Yes. A renovation loan, like the FHA 203(k) or a conventional HomeStyle loan, lets you finance both the purchase and the repairs in one mortgage. You borrow based on the home's value after improvements.
It means you can buy a home that needs work without paying cash for the repairs.
How it works
The lender holds the repair funds and releases them as work is completed. You get a home that fits your needs at a price others may pass on.
We help buyers turn fixer-uppers into dream homes. Apply now and we will map a renovation loan.
Verify the details for your own situation against these government and agency sources: CFPB Owning a Home guide and HUD homebuyer resources.