What Is a Renovation Loan?
A renovation loan lets you finance both the purchase price of a home and the cost of repairs or upgrades — all in one convenient mortgage. It’s perfect for buyers who see potential in a fixer-upper or homeowners who want to remodel without taking out a second loan.
Types of Renovation Loans
FHA 203(k)
Backed by the Federal Housing Administration, the FHA 203(k) loan is great for buyers who want to make major repairs or upgrades with as little as 3.5% down.
💡 Did you know? You can finance new flooring, energy-efficient windows, or roof repairs directly into your 203(k) loan.
Learn MoreConventional Homestyle®
Perfect for borrowers with solid credit who want more flexibility in choosing renovation projects. It can cover cosmetic or structural improvements.
💡 Did you know? A Homestyle® loan can fund both cosmetic and structural updates — even adding a new room or garage.
Learn MoreVA Renovation
Available to eligible veterans and active-duty service members, this program allows home improvements using VA benefits with no down payment required.
💡 Did you know? Veterans can use the VA Renovation program to upgrade kitchens or bathrooms — no down payment required.
Learn MoreReady to Talk About Your Project?
Click below to visit Russ’s quick form and share your renovation goals — he’ll follow up personally to help you get started.
Submit Your Info
Russ Fitzpatrick
Mortgage Loan Originator • NMLS #2712875
Licensed in Florida, Georgia, and North Carolina
CMS Mortgage Solutions, Inc. • NMLS #212405
cmsmortgagesolutions.com
NMLS #212405 | Licensed to Do Business in the State of AL, AZ, CA, CO, DE, DC, FL, GA, ID, IN, LA, ME, MD, MI, MS, NM, NH, NC, OK, SC, PA, TN, TX, VA, and WV
A MORTGAGE BROKER ONLY, NOT A MORTGAGE LENDER OR MORTGAGE CORRESPONDENT LENDER
www.nmlsconsumeraccess.org
Equal Housing Opportunity
This page is maintained by Russ Fitzpatrick for educational and informational purposes.
It is not an official CMS Mortgage Solutions corporate page and does not constitute a loan
commitment or approval. All loans are subject to credit and underwriting approval.
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