Renovation Loan

A renovation loan finances home improvements, allowing buyers to purchase or refinance and renovate a property with a single mortgage, boosting value and enhancing overall appeal.

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What Is a Renovation Loan?

Avoid the drama of listing and selling your home. Forget the hassle of moving and finding a replacement home and instead, renovate your current home with a renovation loan! With different renovation loans to choose from, you can create the home of your dreams without incurring consumer debt, an additional loan, or dipping into your savings!

Renovation Loans Based On Your Goals

Fix & Stay

Consider a cash-out refinance to renovate your current home and create the space you’ve always dreamed of!

Buy & Build

Purchase a new home and renovate it to be the home you were looking for, using a home equity loan to bring your vision to life.

What’s the Minimum Renovation Loan Down Payment?

As low as 3% down payment for purchase

How Do You Qualify for a Renovation Loan?

Must maintain as low as 5% equity for refinance

Credit scores as low as 680 may qualify

Loan limits vary by county*

How Do I Prepare for a Renovation?

Develop scope of work

Establish a budget

Hire a contractor

Close your loan

Renovate

*To learn more about the your county’s Conforming loan limits, please visit: Federal Housing Finance Agency

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Download the free RWM Home Loans Fluid Mobile App today and get started on your journey to homeownership.

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