Rehab loan.
One loan for the home and the work it needs. Buy or refinance and fund the renovation together, with the process explained before anything is offered.
One loan for the home and the work it needs. Buy or refinance and fund the renovation together, with the process explained before anything is offered.
A mortgage that covers the purchase or refinance of the home plus the cost of the renovation, based on what the home will be worth when the work is done.
Buying a home that needs work, or updating the one you have, without a second loan for the renovation.
Renovation funds are held in escrow and paid out as work is completed and inspected. Plans and contractor bids are part of the application.
The property, what needs doing and a rough idea of the cost.
A conventional rehab loan against an FHA 203(k) and against financing the work separately.
Funds are released as the work is inspected. Support continues after.
The right location in the wrong condition.
You have a scope and contractors in mind, or want help getting there.
You would rather fund the work inside the mortgage than with cards or a second loan.
The finished home will be worth more than the home plus the work.
For a smaller project on a home you already own, a HELOC may be simpler. Your loan officer compares both.
Most structural and cosmetic renovations, from kitchens and roofs to additions and energy upgrades. Luxury items are often excluded. Your loan officer confirms your scope.
Yes, a licensed one with a detailed bid. Some programs allow limited owner work. Your loan officer explains what applies.
On the value of the home after the renovation, within program limits.
Programs set a completion window, usually several months to a year. Your loan officer gives you the timeline.
Often, though some programs allow payment reserves if the home is not habitable. Your loan officer explains the options.
Tell us about the home and the work you have in mind. A loan officer compares rehab programs and alternatives before anything is offered. Pre-qualifying will not affect your credit score.
Pre-qualify for a rehab loan
