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Financing for the purchase and renovation costs of a fixer-upper property

Loan Programs > Renovation Loans

Renovation Loan Quick Facts

3.5% Down

Minimum Down Payment


Minimum Credit Score


Max Debt-to-Income Ratio

What is a Renovation Loan?

Purchasing a home in need of major repair or planning a remodel of your existing home can be overwhelming. But securing financing to tackle these projects doesn’t have to be a daunting task. Renovation Loans are designed for people wanting to finance both the mortgage to purchase or refinance a fixer-upper and the funds needed to repair and remodel the property all in a single loan with one application, one closing, and one monthly payment.

What are the benefits of a Renovation Loan?

Renovation Loan benefits and features:

  • Purchase a home that is less-than-perfect in a great neighborhood or is a foreclosure, short sale, or other distressed property. Eliminate problems with the property before you move in.
  • A Renovation Loan is a convenient, economical way to make changes with a first mortgage (purchase or refinance), rather than a second mortgage or a home equity line of credit.
  • Examples of renovations, depending on your loan type: kitchen and bath updates, exterior and interior paint, flooring and carpeting, landscaping, roofing and gutters, electrical and plumbing, structural alterations and additions, and swimming pool.
  • FHA 203(k) and Fannie Mae HomeStyle® Renovation Loans are available. Your Academy Loan Officer can help you decide which loan solution will help make your dream home a reality.
  • Other requirements and conditions apply.

Who may benefit from a Renovation Loan?

A Renovation Loan may the right fit for you if:

  • You’re a first-time or repeat homebuyer.
  • You want to buy a “fixer-upper” home in a great location and get extra money to renovate it, all with one application, one loan, and one payment each month.
  • You want to refinance and renovate your current home—again, all with just one loan!

Meet Your Mortgage Expert for
Renovation Loans

Salazar Team

Loan Officer | NMLS #1456434

With me as your lender, you will never ask yourself why isn’t he answering my calls or why isn’t he available. Whether you’re a first time home buyer or not, this is one of the most important times in your life, you are embarking on one of the biggest commitments you will ever make.

Corp NMLS #214519 | Equal Housing Lender

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Is a Renovation Loan right for you?

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The La Cantera Loan Team