What is a home renovation loan?

A renovation loan combines property financing and approved renovation costs into a single mortgage. Programs include the government-insured FHA 203(k) and the conventional HomeStyle Renovation. Contractor documentation, project plans, and cost estimates are commonly required.

Renovation loan types

FHA 203(k)

Fannie Mae HomeStyle at a high level

Purchase plus repairs

When repair financing is useful

What documentation may be needed