Renovation Lending

Renovation Lending

Finance the purchase or refinance of a home and the cost of certain minor rehabilitation through a single mortgage. Available for FHA & VA Loans.

Conventional Home Improvement

Finance the purchase or refinacne of a home and the cost of certain minor rehabilitation through a single mortgage.

Veteran's Improvement Program

VIP program enables veterans to purchase or refinance their home and include minor repairs and/or rehabilitation.

Renovation Loan Details


A renovation loan enables homebuyers and homeowners to finance both the purchase (or refinance) of a house and the cost of its rehabilitation through a single mortgage or to finance the rehabilitation of their existing home.

A renovation loan is one of many FHA programs that insure mortgage loans, and thus encourage mortgage companies to make mortgage credit available to borrowers who would not otherwise qualify for conventional loans on affordable terms (such as first time homebuyers) and to residents of disadvantaged neighborhoods (where mortgages may be hard to get).

The renovation loan fills a unique and important need for homebuyers in another way as well. When buying a house that is need of repair or modernization, homebuyers usually have to follow a complicated and costly process, first obtaining financing to purchase the property, then getting additional financing for the rehabilitation work, and finally finding a permanent mortgage after rehabilitation is completed to pay off the interim loans. The interim acquisition and improvement loans often have relatively high interest rates and short repayment terms.

However, a renovation loan offers a solution that helps both borrowers and mortgage companies, insuring a single, long term, fixed or adjustable rate loan that covers both the acquisition and rehabilitation of a property. Renovation loans save borrowers time and money, and also protect mortgage companies by allowing them to have the loan insured even before the condition and value of the property may offer adequate security. 

The extent of the rehabilitation covered by a renovation loan may range from relatively minor repairs to more complex repair and/or replacement. The types of improvements that borrowers may make using a renovation loan include:

  • Repair/replacement of roofs, gutters and downspouts
  • Repair/replacement/upgrade of existing HVAC systems
  • Repair/replacement/upgrade of plumbing and electrical systems
  • Repair/replacement of flooring
  • Minor remodeling that does not involve structural repairs
  • Painting
  • Weatherization, including storm windows and doors, insulation, weather stripping, etc.
  • Purchase and installation of appliances
  • Accessibility improvements for person with disabilities
  • Repair/replacement/addition of decks, patios, or porches
  • Basement finishing and remodeling, which does not involve structural repairs
  • Basement waterproofing
  • Window and door replacements
  • Exterior wall re-siding
  • Septic system and/or well repair/replacement
Ron Byrom's Photo

National Sales Manager - Renovation Lending

(850) 228-5125 Cell

(850) 296-1699 office
(850) 254-8557 fax

NMLS #276811