Renovation Loan Rates in Florida
What drives FHA 203k and HomeStyle renovation rates in Florida, the extra project costs to plan for, and a sample payment. Licensed FL mortgage broker NMLS# 1859012.
By Onias Derilus, Mortgage Capital · NMLS# 1859012 · Last Updated: June 2026
Renovation loans price close to standard FHA or conventional financing, with a small add-on for the construction management built into the loan. The bigger budgeting question is the project costs layered on top: inspections, draw fees, and a HUD consultant on larger 203k jobs. The sections below cover how pricing works and what a payment can look like.
How Renovation Rates Are Set
The program you use sets the baseline. FHA 203k prices near standard FHA rates and accepts lower credit. Fannie Mae HomeStyle prices near conventional and rewards stronger credit with better terms.
On top of the program, lenders weigh your credit, down payment, and occupancy. The loan is sized on the after-renovation value, so a modest down payment can still fund a meaningful project.
Illustrative Monthly Payment
The table shows principal and interest on a $350,000 loan (a purchase plus renovation financed together) at a few illustrative rates. These figures are for planning only, not a rate quote, and exclude taxes and insurance.
| Rate | Loan Amount | Monthly P&I |
|---|---|---|
| 6.50% | $350,000 | $2,212 |
| 7.00% | $350,000 | $2,329 |
| 7.50% | $350,000 | $2,447 |
| 8.00% | $350,000 | $2,568 |
Illustrative only. Not a rate quote or commitment to lend. Excludes project costs and escrow draw fees. Call (561) 300-0380 for a personalized quote.
Locking Your Rate
Once the contractor bids set the budget and the appraisal confirms the after-renovation value, locking protects you through closing. Renovation files run longer than standard loans, so lock for enough days to cover bids, appraisal, and underwriting.
We confirm your scope and program before you lock. See the full picture on our requirements page.
Renovation Loan Rates — FAQ
Only slightly. FHA 203k and HomeStyle price close to standard FHA or conventional loans for the same borrower, with a small add-on for the construction management. Financing repairs at mortgage rates is far cheaper than a personal loan or credit cards.
Beyond the rate, plan for inspections, draw fees, and on larger 203k Standard projects, a HUD consultant. These are project costs layered on top of the loan, not part of the interest rate, and we lay them out before you commit.
A higher credit score, a larger down payment, and primary-residence occupancy all help. Choosing HomeStyle over 203k can also improve pricing if your credit is strong, since it follows conventional rather than FHA pricing.
Get a Renovation Loan Rate Quote
FHA 203k & HomeStyle · One loan for purchase + repairs · NMLS# 1859012
Rates are illustrative only. APR and payments vary by credit score, loan amount, and market conditions. Subject to credit approval. Not a commitment to lend. NMLS# 1859012. Equal Housing Lender.