What is a fixer-upper loan?

Fixer-upper loans are mortgage products that offer buyers enough money to cover both the purchase price of the home and the cost of renovations. Check your home loan options. Start here Many of these loans require special appraisals to establish the post-repair value of the home.

Can you get an FHA 203K loan for a fixer upper?

If you're interested in buying a fixer upper, you may have trouble getting a mortgage on the home. But an FHA 203k is designed for that exact purpose. In this article: FHA 203k loans are designed to help borrowers finance an older home that needs significant repairs. To get an FHA 203k loan, you must work with an FHA-approved lender.

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.