Renovation Loans
Fund upgrades, repairs, or complete remodels with renovation loans that combine home purchase and improvement costs into one simple solution. Renovation loans are specially designed for homebuyers and homeowners who want to finance both the purchase (or refinance) of a property and the cost of renovations with one convenient loan.
"Transform Your Home with Smart Financing Through Renovation Loans"
These loans are ideal for properties that need significant work before they’re livable or market-ready. Rather than paying for upgrades out of pocket, you can roll renovation costs into your mortgage, spreading them out over time with a manageable payment. Renovation loans open up opportunities in competitive markets by allowing buyers to consider homes that need TLC—often at a better price than turnkey options. It’s a great way to get into your preferred neighborhood affordably.
At Mortgage Loans of America, we help clients throughout Omaha, Gretna, and Fremont unlock the full potential of renovation financing—guiding them from project planning to funding and closing. You can use a renovation loan to finance a wide variety of improvements: kitchen remodels, bathrooms, roofing, HVAC systems, energy-efficient upgrades, or even room additions.
These loans are perfect for fixer-uppers, foreclosures, or outdated homes that might not qualify for traditional loans due to their current condition. With renovation financing, you can turn a “no” into a “yes.” Options include FHA 203(k) loans and conventional renovation loans like Fannie Mae’s HomeStyle®, depending on your needs, budget, and renovation goals. We’ll help you choose the best fit.
Contractor estimates and project plans are required upfront, ensuring that your loan is tailored to actual improvement costs—and keeping the project on time and on budget. Many borrowers also choose renovation loans when refinancing an existing home. If you already own your house but want to upgrade, you can refinance into a renovation loan and access the funds to improve it.
You’ll benefit from competitive rates and terms, even with added renovation costs, and you’ll only have one monthly payment instead of separate loans for the home and the project. Renovation loans also help increase your home’s future value. Once the work is complete, your improved property may appraise higher—giving you more equity and financial flexibility down the road.
These loans are great for building sweat equity and truly customizing your home to your lifestyle or investment goals—whether you’re living in it or renting it out. At Mortgage Loans of America, we simplify the renovation loan process, working with your contractor and providing expert support from application through final inspection. Let us help you fund your vision and turn a fixer-upper into your forever home.
