Learn more about Renovation Loans
A fixer-upper could be the path to your dream home
When you use a Renovation Loan, you combine the cost of purchasing and renovating your home into a single mortgage. This means freedom and flexibility.
A few key benefits of Renovation Loans:
Straightforward payments – With a Renovation Loan, you combine the costs of construction into your mortgage, putting your costs in one place.
Get more house – By remodeling a home needing repairs, many homebuyers are able to both buy larger homes, or buy in areas they normally couldn’t afford.
A Renovation Loan might be a good fit if you:
Want to include the cost of construction in your mortgage
Are looking to live in an updated home
Want to get more home for less by renovating a fixer-upper
Don’t let myths about Renovation Loans hold you back
Myth #1: Interest rates are much higher for Renovation Loans
Nope! While Renovation Loans have a slightly higher interest rate, most have a very competitive rate compared to a traditional mortgage.
Myth #2: : Only major repairs can be financed
Not true! You’re given the money to make the changes that you want to see in your new home, whether that be a new roof, a new bathroom, or whatever else you'd like.