Here are the types of home loans that can include renovations

There are several different types of home loans you can apply for that are eligible for adding renovation costs to the mortgage.

An FHA 203(k) is a mortgage serviced by the Federal Housing Authority in which the cost of repairs is combined with the mortgage amount.

FHA 203K

Medium Brush Stroke

The amount of allowable renovation money can equal 75% of the value of the property after renovations are complete.

Fannie Mae HomeStyle

Freddie Mac CHOICERenovation

This renovation loan is for buyers who want a loan with more flexibility than an FHA renovation loan.

Medium Brush Stroke

The VA allows qualified service members to bundle repairs and alterations with the purchase of a home.

VA Alteration and Repair Loan


Finding a financial advisor doesn’t have to be hard. SmartAsset’s free quiz matches you with fiduciary financial advisors in your area or who serve your area. If you are ready to be matched with financial advisors that can help you achieve your financial goals, take the quiz now.