Renovation Loan

A renovation loan can help fund home improvements, allowing you to turn a house into your dream home. Getting funding for your renovation in advance can help you work out how much you have to spend, so you can stick to your budget. It may also allow you to complete the renovation more quickly, as you won’t have to halt progress until you can afford to continue.

There are a number of ways you can fund your renovation, depending on the size of the project and your budget.

Why a Renovation Loan?

The main benefit of these loans is that they give you the ability to buy or refinance a home in need of repairs with little to no money out of pocket. Typically speaking you need big savings and or equity in a home to pay for renovations, these loans open up possibility to update a home that you might not otherwise have been able to afford. Plus, the down payment requirements are minimal!

Our renovation loan is designed specifically for your needs

Our renovation loan would be perfect for you to accomplish all your fixer-upper needs! This loan is designed for those who want to purchase or refinance with repairs or improvements having only one loan and one closing.

Please note: All loans are subject to credit, underwriting and property approval. Programs, rates, terms and conditions are subject to change without notice. Other restrictions apply.

  • Finance up to 95% of appraisal value subject to the home improvements
  • For loan amounts up to $484,350 or less
  • Primary residence and 1-unit single family dwellings only
  • Available with 3/1, 5/1, 7/1, and 10/1 adjustable rate mortgage (ARM) options
  • Available for 15, 20, and 30-year fixed conventional terms
  • Cosmetic and structural renovations are permitted
  • Must have itemized bid, plans, and specifications for the renovation
  • Renovation must be completed by a licensed general contractor

How much would it cost?

Wondering what a mortgage looks like broken down into monthly payments?

Type of Renovation

Ready to renovate your home, but not sure where to start? Finding the right loan to fit your needs is the first step in the right direction, and our local loan officers are ready to help you find the perfect home renovation loan.

Improving your current home

If you’re a current homeowner who’s interested in making updates that would enhance the look and layout of your house, a renovation might be the solution. Based on the type and scope of your remodel, we can offer a variety of loans that will help with the cost.

Types of repairs and remodels include:

  • Room addition
  • Garage, driveways
  • Roof & gutters
  • Plumbing & electrical
  • Decks, patios, porches
  • Basement finishing
  • Doors, windows
  • Landscape, fencing

For a full list of eligible improvements and considerations, contact Variant Lending Group today.

Renovating for a new home purchase

If you’re a buyer who’s found a home with great potential, but needs some repairs, Variant Lending Group can provide a loan for the purchase and renovation costs. Get money for simple upgrades right up to major improvements. All with monthly payments that may be tax deductible and at rates typically below credit cards or personal loans. We offer a number of loan types that cover minor to major rehabilitation, all included with one mortgage payment.

Why you should choose Variant Lending Group for your Renovation Loan

  • Purchase a home and perform minor repairs (up to $35,000) using our FHA Streamline 203K Loan
  • Make major renovations to create the home of your dreams using our Standard FHA 203K Loan
  • We can tackle that luxury home renovation project or backyard makeover using our Fannie Mae HomeStyle Loan
  • Our 20 years of experience gives us the edge to help our clients… often we help after their banks and credit unions said no.
  • We will work to find the best option for your situation, based on your family’s goals.


  • Flexible Guidelines
  • Minimal Down Payments
  • Some Programs Allow Owner Contractors
  • Buy & Fix Up to Suit Your Needs

Your loan. Never alone.

Through life’s ins and outs, we’re always here to help you with your home loan. As your trusted advisor, help is never more than a call or click away. Flexibility is our motto. Simplicity is our goal. Our loan portfolio options adapt to your needs to make sure your application process is quick and painless – and to ensure that your loan is never alone.