The Reno Game — Renovation Lending Knowledge Center
LEARN THE RENO GAME.
Straight answers about renovation financing, FHA 203(k), HomeStyle, CHOICERenovation, construction loans, fixer-uppers and real estate investing — built from real-world lending experience.
20 articles
Can You Buy a House That Won't Pass FHA Inspection?
A house that fails FHA appraisal isn't a dead deal — it's a renovation loan opportunity. Learn how FHA 203(k) lets you buy and fix properties that standard FHA financing won't touch.
FHA 203(k) Limited vs. Standard: The Complete Comparison
Side-by-side breakdown of the Limited and Standard 203(k) programs — loan limits, eligible work, consultant requirements, draw process, and how to choose the right one for your deal.
How Renovation Loan Appraisals Work
Renovation loan appraisals are based on after-improved value — what the property will be worth after the work is done. Here's how the process works and why it matters for your loan amount.
After-Improved Value: The Number That Drives Your Renovation Loan
After-improved value is the appraised value of a property after renovations are complete. It determines your maximum loan amount on every major renovation program.
Renovation Loan Contractor Requirements by Program
Contractor eligibility and documentation requirements vary by renovation program. Here's what lenders look for — and what contractors need to provide — on FHA 203(k), HomeStyle, and CHOICERenovation loans.
How to Buy a Fixer-Upper with a Renovation Loan
Buying a fixer-upper is a real strategy — not just a TV show. Learn how renovation financing works, what programs are available, and how to structure a deal that actually closes.
The Complete Renovation Loan Guide
A practical overview of every major renovation financing program — FHA 203(k), HomeStyle, CHOICERenovation, and construction loans. What each one does, who it's for, and how to choose.
Fannie Mae HomeStyle® Renovation Loan Guide
HomeStyle is Fannie Mae's conventional renovation loan — no FHA mortgage insurance, investment property eligible, and no minimum repair amount. Here's how it works.
FHA 203(k) vs. HomeStyle® Renovation: Which Is Right for You?
Two of the most powerful renovation loan programs compared side by side — loan limits, down payment, eligible properties, mortgage insurance, and which borrower profile fits each program.
Freddie Mac CHOICERenovation® Loan Guide
CHOICERenovation is Freddie Mac's answer to HomeStyle — a conventional renovation loan with strong resilience-improvement provisions and flexible eligible work. Here's the full breakdown.
Renovation Loans for Realtors: What Every Agent Needs to Know
Renovation financing opens doors that standard loans close. Here's what real estate agents need to understand about FHA 203(k), HomeStyle, and CHOICERenovation to serve buyers and sellers better.
Reno Case Files: Real Renovation Loan Deals
Real renovation loan scenarios — actual properties, actual numbers, actual outcomes. See how FHA 203(k) and other renovation programs work in the real world.
The FHA 203(k) Consultant: What They Do and When You Need One
The HUD-approved 203(k) Consultant is one of the most misunderstood roles in renovation lending. Here is what they actually do, when they are required, and why their involvement can help complicated projects succeed.
The FHA 203(k) Contingency Reserve: What Borrowers Need to Know
The contingency reserve is one of the most misunderstood parts of a 203(k) loan. Here is what it is, how it works, and why unused funds do not come back to you as cash.
FHA 203(k) Loan Requirements: What Borrowers Need to Qualify
FHA 203(k) eligibility involves the borrower, the property, and the renovation scope — not just a credit score. Here is what you need to understand before you apply.
How Long Does an FHA 203(k) Loan Take?
A 203(k) takes longer than a standard mortgage — and longer than most borrowers expect. Here is what the process actually looks like, what causes delays, and what you can do before contract to reduce them.
The FHA 203(k) Repairs That Surprise Buyers Most
Most buyers assume the 203(k) covers everything — or nothing. The reality is more specific. Here are the eligibility decisions that catch buyers off guard, and why they matter before you write an offer.
Which FHA 203(k) Loan Should You Use for Your Renovation?
The program decision follows the scope — not the other way around. Here is how renovation size, complexity, and structural work determine whether you use the Limited or Standard 203(k).
How 203(k) Draws Work — and Why They Make or Break Your Renovation
The draw process is where most 203(k) deals go sideways. Here is exactly how renovation funds get released, what triggers each draw, and how to keep your contractor paid and your project on track.