Every Financing Option, Explained

Purchase or refinance + up to $75,000 in non-structural renovations, in a single FHA loan.

Purchase or refinance + unlimited renovation scope including structural work, additions, and gut rehabs.

Conventional purchase or refinance + renovation financing up to 75% of after-improved value.

Freddie Mac's conventional renovation program — similar to HomeStyle® with some structural differences.

Finance land + construction in a single loan that converts to a permanent mortgage at completion — one closing, one set of closing costs.

Separate construction loan that pays off and refinances into a permanent mortgage at completion — two closings, more flexibility.

Home equity line of credit — revolving credit line secured by existing home equity, used for renovations.

Refinance existing mortgage for more than you owe — take the difference in cash for renovations.

Short-term, asset-based lending from private lenders — fast funding, high cost, used for fix-and-flip and value-add investment.

Unsecured personal loan for smaller renovation projects — no equity required, but rates are significantly higher.