A renovation loan lets you buy or refinance a home and finance eligible improvements in one mortgage. Instead of draining savings for repairs after closing, rehab funds are built into the loan and released as work is completed.
You close on one mortgage that covers the home price (or payoff on a refinance) plus an approved renovation budget. The lender bases the loan on the after-improved value — what the property should be worth when the work is done — not just its current condition.
Renovation dollars are not handed to you at closing. They are held in a rehab escrow account and disbursed in draws as contractors complete milestones and inspections pass. That protects you, the lender, and the project timeline.
Ryan and Steve map your scope of work, contractor plan, and program rules before you write an offer — so you know whether FHA 203(k), HomeStyle, or VA renovation is the cleanest path for that fixer-upper.
Each program wraps purchase or refinance and rehab into one closing — but occupancy, down payment, and project size rules differ.
Understanding the draw process helps set realistic expectations before you shop for a project home.
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Related guides to help you compare options and move toward pre-approval.
Property types, occupancy rules, and common limits by program.
Which repairs can roll into the mortgage vs. cash or a separate product.
Program options, payment calculator, and full renovation hub.
Deep dive on FHA Standard and Limited 203(k) rehab financing.
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Know your buying power and rehab budget before you shop fixer-uppers. Ryan & Steve can match you to the right program and walk you through the draw process — averaging a 20-day close on straightforward files.