: A conventional loan that allows for almost any renovation project, including luxury upgrades like swimming pools or patios, which are typically excluded from FHA loans. It requires a minimum 5% down payment for primary residences.
203(k) Rehabilitation Mortgage Insurance Program Types - HUD loan to buy and renovate home
: Used for major structural work or projects exceeding the limited cap. It requires an FHA-approved consultant to oversee the plans and costs. It can even cover full demolition as long as the original foundation remains. : A conventional loan that allows for almost
: Similar to HomeStyle, this conventional option allows you to finance renovations up to 75% of the home's post-improvement value . It requires an FHA-approved consultant to oversee the
: A government-backed option with a low down payment (as low as 3.5%) and flexible credit requirements (typically a 580+ score).