Renovation Concierge Service

Marco Montano NMLS | 404303 — VP of Renovation Lending

Renovation Loans Made Simple!

Text Me: 720-710-7400

Email: [email protected]

Found a home you almost love?

First-time buyers think like investors. Buy a fixer-upper as your primary home.

BEFORE

AFTER

With the right renovation loan, the possibilities are endless. Talk to Marco today.

What is a Renovation Loan?

A renovation loan is a type of financing that combines the cost of purchasing (or refinancing) a home with the funds needed to repair, upgrade, or remodel it—all in one mortgage. Instead of taking out separate loans for buying and renovating, a renovation loan lets you finance both in a single package, often with one monthly payment and one closing.

Purpose of a Renovation Loan — Renovation loans are designed for:

•Homebuyers purchasing a property that needs repairs or upgrades.

•Homeowners who want to refinance and roll renovation costs into their existing mortgage.

•Investors or owner-occupants seeking to improve property value through remodeling, energy-efficient upgrades, or structural repairs.

Type of Renovation Loans

•FHA 203K Limited — for owner-occupied

•FHA 203K Standard — for owner-occupied

•VA Renovation — for owner-occupied

•Conventional Renovation — for owner-occupied, 2nd homes, and investment properties

What is a 203K Loan?

The 203k Limited

The FHA 203(k) Limited loan is designed for minor, non-structural renovations. It's a great option for buyers or homeowners who want to update or improve a property without major construction.

Key Features

✓Maximum repair amount: $75,000 total (including contingency, fees, and permits)

✓No structural work (no load-bearing wall changes, room additions, or foundation work)

✓No HUD consultant required

✓Best for: Buyers or owners doing minor, cosmetic renovations or updates

Eligible Repairs & Improvements

Interior Improvements

•Kitchen remodeling (cabinets, countertops, appliances)

•Bathroom updates (fixtures, tile, vanities)

•Flooring replacement (hardwood, carpet, tile, vinyl)

•Interior painting

•Drywall repair or replacement

•Closet and storage improvements

•Window and door replacement (interior)

Exterior & Curb Appeal

•Exterior painting or siding repair

•Roof repair or replacement

•Gutters and downspouts

•Window and door replacement (exterior)

•Deck, porch, or patio improvements (non-structural)

•Landscaping improvements (limited)

Systems & Safety

•HVAC repair or replacement

•Plumbing updates (non-structural)

•Electrical updates (non-structural)

•Water heater replacement

•Energy efficiency improvements (insulation, weatherization)

Accessibility Improvements

•Ramps and grab bars

•Widening doorways (non-structural)

•Roll-in showers or accessible bathrooms

Appliances

•Built-in appliances (dishwasher, range, microwave)

•Washer/dryer hookups

The 203K Standard

The FHA 203(k) Standard loan is designed for larger, more complex renovation projects—including structural repairs, major remodeling, and significant property improvements. It requires a HUD-approved consultant to oversee the project.

Additional Notes

✓Minimum repair amount: $5,000

✓No maximum repair limit (subject to FHA loan limits)

✓HUD consultant required to inspect and approve work

✓Funds held in escrow and released in draws as work is completed

Structural & Major Repairs

•Foundation repair or replacement

•Load-bearing wall changes or removal

•Roof replacement (full)

•Structural framing repairs

•Major plumbing or electrical overhauls

Additions & Expansions

•Room additions

•Garage additions or conversions

•Second-story additions

•Basement finishing or conversion

Interior Improvements

•Full kitchen remodel

•Full bathroom remodel

•Flooring throughout

•Interior painting and finishes

•Drywall and insulation

Exterior & Site Improvements

•Siding replacement

•Window and door replacement

•Deck, porch, or patio construction

•Landscaping and grading

•Driveway and walkway improvements

Luxury or Nonessential Items (Allowed with Limits)

•Swimming pools (with restrictions)

•Outdoor kitchens or barbecue areas

•Hot tubs or spas (with restrictions)

Veteran couple receiving keys to their new home

VA-Backed Loan

The VA Renovation Program

You Served. Now Let Us Serve You.

The VA Renovation loan is backed by the U.S. Department of Veterans Affairs and allows eligible veterans, active-duty service members, and surviving spouses to purchase or refinance a home and include renovation costs in a single loan — with no down payment required.

No Down Payment

100% financing available for eligible veterans

No PMI Required

Save hundreds per month vs. conventional loans

Competitive Rates

VA loans consistently offer lower interest rates

120-Day Completion

Renovation work completed within 120 days of closing

Who Qualifies?

★Veterans with an honorable discharge

★Active-duty service members (90+ days of service)

★National Guard & Reserve members (6+ years of service)

★Eligible surviving spouses of veterans

★Must have a valid Certificate of Eligibility (COE)

Eligible Repairs & Improvements

✓Safety and habitability repairs (roof, foundation, electrical, plumbing)

✓Kitchen and bathroom remodeling

✓Flooring, painting, and cosmetic updates

✓HVAC systems

✓Energy efficiency improvements

✓Accessibility modifications for disabled veterans

Loan Requirements

✓Must be owner-occupied primary residence

✓Eligible borrowers: veterans, active-duty service members, and eligible surviving spouses

✓Valid Certificate of Eligibility (COE) required

✓Renovation work must be completed within 120 days of closing

✓No luxury items (pools, outdoor kitchens, etc.)

Ready to Use Your VA Benefits?

Marco Montano specializes in VA Renovation loans and will guide you through every step — from eligibility check to closing day.

Check My VA Eligibility

The Conventional Renovation Program

The Conventional Renovation loan offers flexible financing for a wide range of property types and borrowers. Unlike FHA programs, it is not government-backed, which means fewer restrictions and more flexibility for eligible borrowers.