Renovation Loans

Buy the Home You Want. Transform It Into the Home You Love.

Don’t let outdated kitchens, worn-out roofs, or aging systems keep you from buying the perfect home. With Jet Direct Mortgage Renovation Loans, you can finance both the purchase (or refinance) and the cost of renovations in one convenient mortgage with one monthly payment.

Whether you’re purchasing a fixer-upper, updating your current home, or making repairs before moving in, our renovation loan specialists can help you choose the program that’s right for you.

Ready to Start the Renovation Loan Process?

What Is a Renovation Loan?

A renovation loan combines the cost of purchasing or refinancing a home with the cost of eligible improvements into a single mortgage.

Instead of paying out of pocket or taking out a separate home improvement loan after closing, the renovation funds are included in your mortgage. The renovation costs are held in an escrow account and released as work is completed.

This allows you to:

• Purchase homes that need repairs
• Build equity through improvements
• Finance renovations with your mortgage
• Avoid higher-interest personal loans or credit cards
• Complete renovations before moving in (when applicable)

Which Renovation Loan Is Right for You?

Jet Direct Mortgage offers two industry-leading renovation loan programs.

FHA 203(k) Rehabilitation Loan

Best for:

• First-time homebuyers
• Buyers with lower down payments
• Homes needing significant repairs
• Borrowers using FHA financing

Eligible Improvements

• Roof replacement
• Kitchen remodels
• Bathroom renovations
• HVAC systems
• Plumbing
• Electrical updates
• Flooring
• Structural repairs
• Foundation repairs
• Room additions
• Accessibility improvements
• Energy-efficient upgrades
• Painting
• Windows and doors

FHA 203(k) Benefits

• Low down payment options
• Finance purchase and renovations together
• Available for major repairs
• Great for homes that wouldn’t qualify for traditional financing
• Can finance repairs required to meet FHA property standards

Fannie Mae HomeStyle® Renovation Loan

Best for:

• Buyers using conventional financing
• Homeowners refinancing to renovate
• Luxury or cosmetic improvements
• Primary homes, second homes, and eligible investment properties

Eligible Improvements

Nearly any permanently attached improvement, including:

• Kitchen remodels
• Bathroom renovations
• Roofing
• Flooring
• HVAC systems
• Smart home upgrades
• Landscaping
• Pools (when eligible)
• Outdoor living areas
• Garages
• Accessory Dwelling Units (ADUs)
• In-law suites
• Basement finishing
• Energy-efficient upgrades

HomeStyle® Benefits

• Conventional financing
• Up to 97% financing for eligible borrowers
• Purchase or refinance
• Finance cosmetic and luxury improvements
• One mortgage payment
• Flexible renovation options
• Can finance improvements based on the home’s completed value

Popular Renovation Projects

Homebuyers commonly use renovation loans for:

• Modern kitchens
• Updated bathrooms
• Roof replacement
• HVAC replacement
• New flooring
• Open floor plans
• Finished basements
• Home offices
• Accessory Dwelling Units (ADUs)
• Accessibility improvements
• Energy-efficient upgrades
• Exterior improvements
• Windows and doors
• Plumbing updates
• Electrical modernization

How Renovation Loans Work

Step 1

Find the home you love—or decide to renovate your current one.

Step 2

Meet with a Jet Direct Mortgage Renovation Loan Specialist.

Step 3

Choose your contractor and renovation plans.

Step 4

We’ll review the renovation proposal and determine your loan based on the property’s projected value after improvements are completed.

Step 5

Close on your mortgage.

Step 6

Renovation funds are held in escrow and released as work is completed and inspected.

Step 7

Move into a home that’s truly your own.

Why Choose Jet Direct Mortgage?

Renovation lending is more complex than a traditional mortgage. Choosing an experienced lender matters.

Our renovation specialists help guide you through:

• Program selection
• Contractor requirements
• Renovation planning
• Appraisal coordination
• Draw schedules
• Closing
• Project completion

We’ll help simplify every step of the process.

Frequently Asked Questions

Can I finance renovations into my mortgage?

Yes. Both FHA 203(k) and HomeStyle® Renovation Loans allow eligible renovation costs to be included in your mortgage.

Can I use a renovation loan to buy a fixer-upper?

Absolutely. Renovation loans are specifically designed to help buyers purchase homes that need repairs or updating.

Can I refinance my current home with a renovation loan?

Yes. Both programs offer refinance options for eligible homeowners who want to renovate.

What types of renovations are allowed?

Eligible improvements vary by program but may include:

• Repairs
• Remodeling
• Structural improvements
• Energy-efficient upgrades
• Accessibility improvements
• Major systems
• Cosmetic updates

HomeStyle® generally allows a broader range of eligible improvements than FHA 203(k), including many cosmetic upgrades and certain luxury features, subject to program guidelines.

Can I do the work myself?

Program requirements vary. Many renovation projects require qualified or approved contractors, particularly for larger renovations. Your loan specialist can explain the requirements for your specific loan program.

Why Consider a Renovation Loan?

Today’s housing market has created opportunities to purchase homes that need a little work—but often come with excellent locations and tremendous potential.

A renovation loan can help you:

• Expand your home search
• Build equity faster
• Customize your home
• Finance improvements at mortgage rates instead of higher-interest financing
• Move into a home that’s designed for your lifestyle

Ready to Transform a House Into Your Dream Home?

Whether you’re buying a fixer-upper or renovating the home you already own, Jet Direct Mortgage can help you explore your options.