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Can you buy a fixer-upper with a conventional loan?

You can purchase a fixer-upper with a traditional conventional loan then pay for all the improvements out of pocket. Or, you can get a fixer-upper mortgage that’s designed to help you finance both the house itself and the renovations. Common types of home loans for fixer-uppers are:

What is a fixer-upper loan?

Read our Fixer-upper loans — also known as renovation loans — are mortgages that typically offer you enough money to buy a new home and pay for repairs at the same time. A fixer-upper loan may be a good option if you’re buying a house that needs some TLC.

Can you get financing for a fixer-upper home?

Getting financing for a fixer-upper home may be more challenging than a move-in-ready home, but there are still various options for those willing to put in the sweat equity. Renovation mortgages allow you to purchase a fixer-upper and roll construction costs into the loan amount.

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