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Renovation Loan

What is a Renovation Loan?

Renovation loans are an all-in-one way to purchase or refinance a property and finance repairs and improvements. Renovation loans allow you to borrow based on the as-completed value of the property, meaning you can often borrow more money than with a traditional cash-out refinance or Home Equity Line of Credit which is based on the current value. Northpoint Mortgage has an experienced team dedicated to renovation loans who will help guide borrowers, contractors, and agents of all experience levels through the renovation process.

When should you consider a Renovation Loan? 

Renovation loans are great for those looking to purchase a property that needs some repairs or that may not quite meet the buyer’s needs but, with some work, would be a dream home! Renovation loans are also excellent for homeowners who want to make improvements or repairs to their existing homes.

How Does it Work?

Start with your chosen general contractor and their proposal for the work to be done.

Our Renovation Team will work with you, your contractor, and any other necessary parties

Once the loan closes, renovation funds are held in escrow and disbursed as the work is completed.

Loan Options

Renovation loans can be completed with conventional loan products as well as FHA and USDA/RD. Each type of loan has its own unique characteristics. We work with a number of investors, including some State Housing Agencies to find the right product for you. The Renovation Team at Northpoint Mortgage will help guide you. Give us a call to get started! 

Some of the products we offer: 

  • Conventional Renovation Loans  

  • FHA 203K Loans

  • USDA/RD Renovation Loans

  • VA Renovation Loans

  • Multifamily Renovation Loans

  • Single Family Home Investment Renovation Loans

  • 2nd Home Single Family Renovation Loans

Tools and Resources

Explore a wide range of loan types and when you’re ready to buy or refinance, we’ll find a loan that fits your situation perfectly.

Find out how much you can afford and many more with our interactive mortgage calculator.

Learn everything about home loans and other useful tips to equip yourself for the homebuying journey. 

What People Are Saying

I have nothing but excellent things to say about Northpoint Mortgage. Everyone I have worked with has been professional, hardworking, and helpful. It is a great company made up of individuals who genuinely care about their clients and work.

- Amanda Z. | MA

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