Renovation Loans
Buy the house you want. Fund the fixes in one loan.
A rehab (renovation) loan rolls the cost of home improvements into your purchase or refinance loan, so you finance the property and the repairs together instead of taking out a separate loan for renovations.
Who this is for
Is this your loan?
Buyers purchasing a fixer-upper or homeowners planning a major renovation.
Not sure? That's what we're here for. We price every eligible program against this one, so the comparison is done for you.
How does a rehab / renovation loan work?
A rehab (renovation) loan rolls the cost of home improvements into your purchase or refinance loan, so you finance the property and the repairs together instead of taking out a separate loan for renovations. Funds for the work are released as it's completed.
What does a rehab / renovation loan include?
- Combines purchase (or refinance) and renovation costs into one loan
- One closing instead of a mortgage plus a separate renovation loan
- Funds disbursed as renovation work is completed
- Available for primary residences and, in some cases, investment properties
Who is a rehab / renovation loan best for?
Best for: buyers purchasing a fixer-upper or homeowners planning a major renovation.
Renovation Loans FAQs
Asked constantly. Answered honestly.
What is a rehab or renovation loan?
A rehab (renovation) loan combines the cost of purchasing (or refinancing) a home with the cost of renovating it into a single loan, so you don't need a separate loan for repairs. Funds for the renovation portion are typically disbursed in stages as the work is completed.
What is a construction loan and how does it work?
A construction loan finances the ground-up building of a home, releasing funds in draws as work is completed rather than as a single lump sum. With a construction-to-permanent loan, it automatically converts into a standard mortgage once the home is finished, so you only go through one application and one closing.
What is a fix and flip loan?
A fix and flip loan finances both the purchase price and renovation budget of an investment property in a single loan, releasing funds in draws as renovation work is completed. It's built around a short-term exit: reselling or refinancing once the renovation is done.
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