If you own a home or found a fixer-upper with potential, PrimeLending offers home renovation loans designed to help you transform your space, increase your property value and make affordable upgrades—all with one convenient mortgage.

Whether you’re refinancing your current home or buying a new one, our renovation financing allows you to roll the cost of repairs or improvements into a single mortgage loan. No second loan. No extra monthly payment. Just a streamlined solution for making your renovation plans happen.

Why choose a renovation loan?

Renovation home loans offer several unique benefits:

  • One Loan, one payment—Covers the purchase or refinance amount plus renovation costs.
  • Faster access to funds—Renovation work can begin immediately after closing.
  • Flexible options—Choose from multiple loan types to suit your project size and scope.

Talk to a renovation loan expert today to get started.

Renovation Loans 101

Before you renovate, it's important to know how the renovation loan process works, which renovation mortgage options are available and how you can benefit from a renovation home loan.

Types of renovation loans

When it comes to financing home improvements, there’s no one-size-fits-all solution. That’s why we offer a wide variety of renovation loans to fit your unique goals—whether you’re planning minor cosmetic upgrades, major structural renovations or anything in between. From government-backed programs like FHA 203(k) and VA renovation loans to flexible options like EZ “C”onventional and escrow-based solutions, each loan is designed to help you improve your home’s value and livability without taking out a second mortgage.

Explore the options below to find the right fit for your project and financial needs.

Jumbo renovation loan

Ideal for higher-value properties, this loan allows you to finance large-scale renovations that exceed conforming loan limits. Perfect for luxury upgrades, custom remodels, or structural additions on homes in high-cost areas.

FHA 203(k) renovation loan

Backed by the Federal Housing Administration (FHA), this loan combines the purchase (or refinance) of a home with renovation costs.

  • Full/Standard: Ideal for structural repairs and larger projects
  • Limited: Best for smaller repairs and cosmetic updates

USDA renovation loan

Designed for eligible rural properties, this loan allows you to combine the cost of purchasing and repairing a home into a single USDA-backed mortgage. It’s a great option for buyers seeking affordable financing in qualifying areas.

VA renovation loan

If you're a Veteran, active-duty service member or qualified spouse, a VA renovation loan could be a great fit. It combines all the benefits of a VA loan with extra funds for repairs or upgrades—wrapped into one monthly mortgage payment.

Fannie Mae HomeStyle®/Freddie Mac CHOICERenovation MortgageSM

Great for both interior and exterior remodeling, this loan gives you the flexibility to finance a wide range of home improvements—whether they’re structural or purely cosmetic.

EZ “C”onventional Loan

This option is ideal for smaller, cosmetic upgrades that don’t involve structural changes. It’s a great choice for quick projects under $35,000—like new flooring, fresh paint, or updated appliances.

Repair Escrow

A renovation loan with a built-in escrow account used to pay for required repairs. The money is held by the lender and released as the work is completed, helping you stay on track and on budget.

Pool Escrow

Looking to add a pool? This financing option rolls the cost of pool construction into your home purchase or refinance. It’s available with both conventional and jumbo loans.

Many of these loans have no minimum repair amount and are perfect for small upgrades. For larger projects or structural repairs, loan amounts can go up to the property’s improved value plus renovation costs.

What can you do with a home renovation loan?

Whether your goal is curb appeal or more functional living space, renovation loans can help you:

Make interior upgrades

  • Finish or waterproof a basement
  • Upgrade windows, doors or floors
  • Remodel your kitchen or bathroom
  • Buy and install new appliances

Make exterior improvements

  • Repair or replace a roof or gutters
  • Add a deck, patio or landscaping

Major home renovation projects covered

For bigger renovations, certain loans allow you to finance:

  • Room additions or second-story expansions
  • Structural repairs or major renovations
  • Foundation repairs
  • Plumbing, HVAC or electrical system replacements
  • Insulation and energy-efficiency improvements
  • Projects lasting longer than 6 months

Buying a fixer-upper? Renovation loans can help

If you’re buying a home that needs repairs, a renovation loan can cover both the purchase price and the cost of updates in one mortgage. This option offers several key advantages:

  • Access homes at a lower purchase price
  • Buy into desirable neighborhoods affordably
  • Expand your home search with more flexibility
  • Create a customized space tailored to your needs
  • Begin renovations right after closing

These loans also cover required repairs to meet city codes, appraisal guidelines, or safety standards.

Is buying a fixer-upper right for you?

Before jumping into a renovation project, make sure to:

  • Review zoning regulations—Know what changes you can legally make
  • Get a home inspection—Identify existing issues before buying
  • Estimate repair costs—Ask a contractor for a written quote based on the inspection
  • Negotiate the price—Homes needing work often qualify for price reductions
  • Choose the right loan—Each loan type suits different project sizes and timelines
  • DIY where possible—If you have the skills, doing some of the work yourself can reduce costs

Tips for hiring a contractor

A reliable, qualified contractor is essential to a successful renovation. Here’s how to choose one:

  • Check credentials and licenses
  • Get at least 3 written estimates for the same scope of work
  • Verify insurance and bonding to protect against unexpected issues
  • Ask to see past projects and customer reviews
  • Hire specialists—not generalists—for complex tasks
  • Evaluate professionalism and responsiveness

Legitimate contractors should be happy to provide all documentation and references.

Ready to start your renovation?

From minor upgrades to full-scale transformations, PrimeLending has renovation mortgage options to help make your vision a reality.

Get qualified* today or find a local loan officer to explore your renovation financing options.

*All loans subject to credit approval. A qualification is not an approval of credit, and does not signify that underwriting requirements have been met. Conditions and restrictions may apply.