Rehab Loans

Renovation & rehab loans: buy the diamond in the rough.

Turn a fixer-upper into your next home with one loan that covers both the purchase AND the repairs.

1 Loan, 2 PurposesUp to $75K+ in RepairsAs Low as 3.5% Down

The Smart Way to Buy & Fix

A rehab loan lets you finance both the purchase price AND renovation costs in a single mortgage. Instead of buying a house, THEN getting a separate construction loan, you roll it all into one.

You can compete for homes that other buyers pass over. Less competition means better prices. Then you customize it to YOUR taste.

The Real Advantage: You're not paying cash for renovations. You're financing them over 30 years at mortgage rates — which are way lower than credit cards, HELOCs, or personal loans.

Why This Matters

  • One closing: No separate loans, no extra fees.
  • Lower interest rates: Mortgage rates beat personal loans by 3-5%.
  • Build equity fast: Renovations increase home value immediately.
  • More home choices: Access properties other buyers ignore.
  • Predictable budget: All costs fixed in one loan estimate.

FHA 203(k) vs. Fannie Mae HomeStyle

FHA 203(k)

Backed byFHA
Min Credit580 (3.5% down)
Down Payment3.5% - 10%
Max RenovationLimited: $35K / Standard: No cap
OccupancyPrimary only

Types: Limited 203(k) for cosmetic work up to $35K. Standard 203(k) for major structural work with HUD consultant.

Best for: First-time buyers with limited savings who want to build equity through sweat equity.

Fannie Mae HomeStyle

Backed byFannie Mae
Min Credit620
Down Payment3% (with PMI) or 5%+
Max RenovationUp to 75% of "as-completed" value
OccupancyPrimary, 2nd, or Investment

Types: One streamlined program covering cosmetic to structural work.

Best for: Buyers with good credit who want flexibility, including investment property renovations.

Ready to Explore Rehab Loans?

See if you qualify or talk to a loan officer about renovation financing options.

You are on step 3 of 4 · Qualify

You've seen how 203k and HomeStyle rehab loans roll repairs into the mortgage.

Next up: The lender comes later.

Keep the momentum. Step 4 · Connect picks up exactly where this page leaves off — still free, still no credit pull, still no sales call.

See If I Qualify