Buying a home that needs work? You’re not alone.
Fixer-uppers can be a smart way to build equity fast — but you’ll need a plan to cover the cost of improvements. The good news? There are specialized loans and programs designed for exactly this scenario.
Loan Types for Fixer-Upper Buyers & Owners
FHA 203K Loan Bundled with your mortgage, this federally backed loan lets you buy and renovate at the same time.
HELOC (Home Equity Line of Credit) Great for phased upgrades if you already own the home and have equity.
Home Equity Loan A lump sum to cover mid-to-large scale repairs, with predictable monthly payments.
Personal Loan Best for fast approval and moderate-sized projects, like HVAC, foundation fixes, or electrical upgrades.
Cash-Out Refinance If interest rates are favorable, this lets you tap your home's equity during a mortgage refi.
Which Loan Is Right for You?
Buying a home? FHA 203K may be the most straightforward.
Already own? Compare equity-based vs. unsecured options.
Small project? Personal loans or energy-efficiency rebates could be enough.
Know Before You Commit
Every house has hidden risks. Before you borrow — know what you're getting into.
👉 Search your address to uncover hidden risks and high-priority upgrades before you commit.