Which renovation loan program is right for you?
Find the right renovation loan options to meet your project goals. There are a few considerations to think about when making your rehab loan decision. You will want to consult with a renovation loan specialist to make sure the project and budget fit your loan type.Here are a few summaries and programs descriptions that can help with your renovation loan options decision making.
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Renovation Loan Tips
VA Renovation Loan
When a home doesn’t qualify for VA financing, a VA renovation loan may help open up other lending solutions. The VA Renovation loan is used for home repairs or remodel projects.
FHA 203k Loan
There are two types of FHA 203k loans offered by the Federal Housing Administration. These loans include the cost of the property and repairs combined, making it ideal for homes in need of rehabilitation.
Homestyle Renovation Loan
Homestyle loans are a flexible option that can be used when buying any home. This loan program allows you to also buy and improve as a second home or as an investor.