Key Program Features
Conforming Renovation Loan
- Credit Score: 620+
- Loan Term: 15 & 30 Year Fixed
- Property: SFR, PUD, 1–4 Units, Warrantable Condo
- Max DTI: 50% (with AUS Approval)
- LTV: Up to 97%
- Eligible Improvements: HVAC, plumbing, kitchens, decks, landscaping & more
FHA 203(k) Loan
- Credit Score: 580+
- Min Repair Cost: $5,000
- Property: 1–4 Unit, Condo, PUD, Modular, Manufactured
- LTV: Up to 96.5%
- Eligible Repairs: Kitchen/bath, accessibility, health hazards, major remodels
VA Renovation Loan
- Credit Score: 580+
- Primary Residence Only
- Property: 1–4 Unit, Manufactured, Condo
- Max Repairs: $100,000
- LTV: Up to 100%
- Eligible Upgrades: Safety repairs, HVAC, kitchens, disability access, appliances
Renovation Loans in Chicago – Build, Fix, and Upgrade with Ease
Whether you’re buying a fixer-upper or enhancing your current home, our Renovation Loan programs help you finance both the purchase and improvements in one simple loan. Perfect for buyers and homeowners in Chicago and the surrounding areas.
Top Benefits of Renovation Loans
Finance Home & Repairs Together
Bundle purchase or refinance costs with needed improvements into a single loan.
Low Credit Score Options
Qualify with scores as low as 580 depending on the program type.
Wide Range of Eligible Repairs
Covers everything from HVAC and roofs to kitchens, baths, and accessibility upgrades.
Multiple Loan Options
Choose from Conforming, FHA 203(k), or VA Renovation Loans tailored to your situation.
Who These Loans Help
- ✔️ Buyers purchasing a fixer-upper
- ✔️ Homeowners making structural or safety upgrades
- ✔️ Veterans looking to modernize their home
- ✔️ FHA borrowers with outdated kitchens or bathrooms
Start Your Renovation Journey
Check if you qualify for one of our renovation loan programs today. Quick, simple, and personalized.
Frequently Asked Questions
Can I use these loans to buy and renovate a home?
Yes! All programs allow you to combine purchase and renovation costs into one convenient mortgage.
What types of repairs are allowed?
You can finance upgrades like kitchens, baths, HVAC, flooring, and structural improvements. Each loan type has its own eligible list.
What’s the minimum credit score?
FHA and VA allow scores as low as 580. Conforming loans require 620 or higher.
Can I do the repairs myself?
In most cases, repairs must be completed by a licensed contractor to meet program requirements.
Do you offer this program in Chicago?
Yes! We offer these renovation loans across Chicago and surrounding communities.