Renovation loan Solutions

renovation loan kitchen

Are you looking at a house like this? What is a VA Renovation Loan, FHA 203k Loan or a Homestyle renovation loan? They are the three most common loan programs used when purchasing or refinancing a home needing updates and repairs. Purchasing or refinancing a home with less than perfect property conditions can be a difficult task! Fortunately, there is no need to do at it alone! You can rely on the shared experience of over 1,000 of these transactions over the past 16 years. I have personally utilized these programs for my home in addition to other investment properties through the years. Our team has also salvaged situations that arise from getting these loans from less experienced renovation lenders.  These transactions contain several moving parts, and as a buyer you need to be aware of all the challenges.  You will benefit from our experience as we address all of your lending options.  We have the ability to truly see the process through your eyes and welcome the opportunity to assist you in your renovation home purchase. 

I have provided this page for renovation loan support.  Anyone looking for information on VA Renovation loans, FHA 203k Loans or a Homestyle Loan should be able to use this site as a resource. We like to help early in the process and appreciate your consideration in being a partner! Help is available even if you are stuck in the process with another lender. Lastly, information here will serve you with the resources you need to complete a successful renovation loan. Enjoy the site!

After renovation loan kitchen

“John was referred to me by a Realtor friend….He managed to get me the government loan with the amount I needed to rehab the house in the period of time I needed, so I would not have to pay any penalties….If there was a five star rating, I would give him six stars. I look forward to many more loans with him in the future.”- Steve S., Jacksonville FL 

Please send questions or suggestions to joadams@loandepot.com. Call us at 904-639-5571. You can also apply now at www.johnadamsloans.com 


VA Renovation Loan Myths

There is a tremendous buzz around VA Renovation Loans today . They are similar to an FHA 203K repair loan but available for eligible VA beneficiaries (active duty or prior military). Many people don’t know these loans exist. Some naysayers even refute the program’s existence.  According to the VA Handbook 26-7, The Alterations for Improvement and Repair Loan Program ( VA Renovation loan) it is possible for a veteran to use their benefit to buy and include material and labor repair costs.  Other lenders are starting to offer a  VA Renovation products with limited capabilities. Research the facts on what you are being served andrely upon experience in this lending space.

Evolution of VA Renovation

Our personal experience with Alterations for improvement and repair started with our move to loanDepot almost 5 years ago, (previously imortgage). Prior to our arrival at loanDepot, no other lenders were offering the VA Renovation loan. We moved companies solely for the availability of this product. Having three local military bases and veterans that needed access to this product, our community was entirely underserved.

Four years later, we’ve transitioned our existing renovation loan leadership to a team of top performers of VA Renovation loans. Rated #1 VA Renovation production at loanDepot for the company for the last 4 years running. Dubbed number one VA Renovation production team in the country. Our true passion for the product is serving those who have served. It is our specialization to offer loan options for homes that would otherwise be out of reach for veterans. 

“The company has changed a lot about what we can now offer our veterans. We have come a long way with this product and proud to assist those who have served. Our commitment is providing Veteran guidance to using our product” – John D. Adams, Jr. 

Limited VA Renovation (Alterations for improvement and repair)

Not all companies will have the full VA renovation product. We, in fact, started out with similar limitations. The limited VA Renovation loan will only allow for similar repairs in the FHA 203k limited repair program ( Formerly streamline ). These repairs would include but not limit to cosmetic repairs like flooring, roofing, wood rot, kitchen remodeling,  bathroom remodels, electrical repairs, and appliances. Many will not allow  a Health, livability, Hazard or safety repair. Very similar to the FHA 203k limited program with a 35,000 cap.  Just like a regular VA loan the program will allow for as little as 0 down ( 100% Financing). You do have options to do more with the right company if they have the Standard VA Renovation program! 

Call us to guide you home! 904-639-5571

We used to be the only ones offering this product but that has all changed due to a recent circular from the VA completing a 6 page document on the VAs renovation loan procedures ( Alterations for improvement and repair loan )

Maximum Mortgage Worksheets & renovation loans

The maximum mortgage worksheet is typically used by internal mortgage professionals. It is used to determine the total renovation dollars and loan amounts. There are several factors that should be considered described in the video below. Factors include renovation hard costs bids, permitting, inspections, title updates, architectural designs, HUD Consultant fees, supplemental origination fees, contingency reserves and payment abatement.

203k MMW

On the limited 203k, the MMW is in the most streamline format. There is no consultant needed or payment abatements on these. Because of the type of product it shouldn’t have architectural fees. 203k limited example MMW. The Standard or “Consultant” 203k will require a HUD consultant because of structural repairs or the renovation amount. Because of this, you could have additional architectural expenses and additional title update and inspection fees. You will see there are additional lines for these considerations but not necessarily required. There is also the ability on this type of loan for payment abatements during the time of construction. See this Standard 203k MMW example.

VA Renovation

VA Renovation does not allow for payment abatements on any of their loan types. It does however mirror the consultant fees in repairs over 35k and or repairs that are structural in nature. You will also see differences for the appraisal constraints. The downpayment is based on entitlement but in most cases zero down payment. Other than these few nuances the 203k limited and standard guides mirror the VA counterparts. See the limited VA Renovation MMW and the Consultant VA renovation MMW here.

Homestyle renovation MMW

The homestyle renovation loan has many options. There are too many possibilities to list based on down payment options, occupancy and complexity. For Primary residence in these examples, you have options to include payment abatement. using a consultant depending on your project q. Here is a example of a primary residence with a limited Homestyle MMW and a full consultant Homestyle MMW.

MMW wrap up

There are several options when seeking renovation finance. Importantly, you can even use these products for refinance which is not shown in example here. You should ask your mortgage professional to run these scenarios for you so you know what is best in your situation. Call, Click or Come in to get a full explanation of you customized maximum mortgage worksheet!


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Most mortgage lenders take a general approach to mortgage lending and offer every mortgage product available. We have taken a different approach and have spent most of our careers as a top production mortgage team focused on just renovation lending.

The best way to serve our referral partners and customers is not to know a little about everything, but to know as much about  renovation lending and the process for our customers. Let us guide you through the process and show you a better way home!

John Adams is a 5-Star Agent on Zillow – click