In today’s housing market, more buyers are looking at homes that need a little extra work. These “fixer-uppers” can sometimes be priced more attractively, but they also raise an important question: how do you handle the cost of repairs or updates?
That’s where renovation mortgage programs may come into play. These are loan options designed to potentially combine the purchase price of a home with the cost of certain improvements, depending on program guidelines and borrower eligibility. Instead of taking out separate financing for the work, some buyers explore these programs as a way to manage both the purchase and renovation under one loan.
It’s also worth noting that owner-occupants often view these homes differently than investors. Research shows that buyers who plan to live in a property are often willing to pay more because they see past the “as-is” condition and imagine the finished product tailored to their needs. For some, that means seeing potential where others might only see a project.
At OneTrust Home Loans, we have access to renovation financing options that may be available depending on your situation. Program guidelines vary, and not every home or borrower will qualify, so it’s important to review details carefully and understand all requirements before moving forward.
For sellers, this can open the door to a wider pool of buyers. For buyers, it may create an opportunity to update a home in a way that builds equity over time.
If you’re curious about how renovation loan programs work or whether they might fit your goals, I’d be glad to walk you through the basics and answer your questions. There’s never any obligation—just information to help you explore your options.
Compliance Disclosure
All products are not available in all states. All options are not available on all programs. All programs are subject to borrower and property qualifications. Rates, terms and conditions are subject to change without notice.