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Purchasing a fixer-upper offers exciting possibilities, but financing the necessary repairs can be a challenge. At Land Home Financial, we provide renovation loans designed specifically for buyers who want to turn their new home into a dream property. These renovation loans allow buyers to roll the cost of repairs or remodeling into their mortgage, making it easier to finance both the home and the improvements in one go.
A fixer-upper allows buyers to purchase homes in desirable neighborhoods at lower prices, which means they can invest more in customizing their new home exactly how they want it. Fixer-uppers also give buyers an opportunity to build equity quickly, especially in competitive real estate markets.
FHA 203(k) loans and Conventional Homestyle loans are common options for buyers looking to fund both the home purchase and renovation costs. These programs allow you to roll the repair costs into your mortgage, simplifying the financing process.
Improvements can range from necessary repairs like fixing roofs or electrical issues to aesthetic upgrades like modernizing the kitchen or bathrooms. Larger structural changes, such as adding new rooms or finishing a basement, are also possible.
*We do not allow self-help and the owner must not also be the contractor