Fannie Mae HomeStyle & Freddie Mac CHOICERenovation
Conventional renovation loans that let you roll the purchase (or refinance) and renovation costs into a single loan. They can be used for primary, secondary, or investment properties. Great for buyers looking to add value or customize without needing to pay for renovations out of pocket. Loan amounts are based on the after-renovation value and down payments can be as low as 3% for first-time buyers.
FHA 203(k) Loans
Government-backed renovation loans that combine purchase/refinance and rehab into one mortgage. Easier to qualify for than conventional options, especially for first-time buyers or those with lower credit scores. Comes in two flavors—Limited (for cosmetic repairs under $75K) and Standard (for larger projects). Can’t be used for luxury upgrades like pools or saunas, but covers most functional improvements.
Hard Money Loans:
Asset-based loans with higher rates, used when speed or property condition makes traditional financing tough. Often used by fix-and-flip investors or for distressed properties.
Construction Loans:
Short-term loans used to fund ground-up builds or major renovations. Best for developers or investors with a clear project plan and exit strategy.
Finance Your Home Renovation with One Simple Mortgage Solution
Purchasing a home that needs updates shouldn’t mean taking on separate loans or tapping into savings. Renovation mortgages allow you to finance both your home purchase and renovation costs in one structured loan, simplifying your path to homeownership. At StratoBridge Lending, we help borrowers across Texas, Pennsylvania, and Colorado take advantage of flexible renovation financing options. Whether you’re updating a dated kitchen, fixing structural issues, or transforming a fixer-upper into your dream home, our team guides you through the process with clarity and confidence.
Expand Your Property Options With Renovation Mortgage Flexibility
Without renovation financing, many buyers limit themselves to move-in ready homes — often at a premium price. Renovation mortgages expand your search by empowering you to purchase properties with strong potential that need some work. This can be especially valuable in competitive markets like Austin, Denver, and Philadelphia, where inventory is tight and buyers want more value for their investment. At StratoBridge Lending, we evaluate the specifics of your renovation plan and help structure a loan that considers projected value increases once improvements are complete. This strategic approach can make your next home purchase both affordable and tailored to your lifestyle.
Renovation loans involve additional steps compared to traditional mortgages, including qualifying your improvement budget and understanding how funds are allocated through construction phases. At StratoBridge Lending, we walk you through each stage — from documentation and contractor estimates to project timelines and lender expectations. Our goal is to ensure that your renovation mortgage delivers the financing you need without unnecessary stress. With personalized guidance and clear communication, you’ll understand what to expect at every milestone, making your renovation dreams achievable in Texas, Pennsylvania, and Colorado.
