Renovation Loans in Phoenix AZBuy or Refi and Include the Renovation in One Loan
Found a fixer-upper or want to remodel the home you already own? A renovation loan rolls the purchase or refinance and the renovation cost into one mortgage. One application, one closing, one monthly payment. I'll walk you through every renovation loan option.
- 10+ Years Experience
- 1000+ Families Helped
- $500M+ in Loan Volume Closed
- Backed by the Nation's #1 Mortgage Brokerage
- License NMLS# 1455718
When You Need Renovation Loans
A renovation loan is perfect when you've found a home that needs work and you don't have a stack of cash for the repairs. The loan covers the purchase price plus the cost of the renovation, based on what the home will be worth after the work is done. Use it to buy a fixer at a discount and turn it into your dream home, or to refinance your current home and remodel at the same time. FHA 203(k), Fannie HomeStyle, and Freddie ChoiceRenovation are the main programs.
Our Renovation Loans Process
Here's how we close your renovation loan. Call or text me with the home you're targeting (or the renovation you want to do on your current home) and a rough scope of the work. I'll match you with the right renovation program. We get an appraisal that includes the as-completed value with the renovation done. You'll work with a licensed contractor whose bids the lender approves. Closings on renovation loans take longer, usually 45 to 60 days, because of the contractor and bid process. I'll guide you through every step.
Renovation Loans Cost in Phoenix
Renovation loan rates are similar to other first-mortgage loans because they replace your primary mortgage. Some programs have a small renovation administration fee. I shop dozens of renovation-approved lenders to find the lowest rate. You'll see every fee, rate, and term in writing before closing.
Why Choose Us
Renovation loans are a specialty most lenders don't handle well because of the contractor coordination. I work with renovation lenders all the time. Ten years in the business and 50-plus five-star reviews. Same-day response on every call and text. I'll help you pick the right contractor-friendly program for your project.
Mark Fazio made getting a hard money loan for my investment property in Phoenix incredibly easy. He explained all of my options, kept me updated throughout the process, and got us to the closing table quickly. I highly recommend Mark and his team to any real estate investor looking for financing.
Mark was fantastic to work with throughout our home purchase in Oklahoma. He was responsive, knowledgeable, and helped us overcome every obstacle that came up during the process. He made everything smooth from start to finish, and we truly appreciated his communication and professionalism. Highly recommend.
Mark was recommended by my Mortgage Broker in California and he was great. Made the whole process easy. Glad he was recommended to me.
Ready to Get Started?
Want to buy a fixer or remodel your current home? Call or text Mark at (480) 690-9790 today.
For more loan programs, see all of our Mortgage Broker services in Phoenix.
Reviewed by
Mark Fazio, Licensed Mortgage Loan Officer
NMLS #1455718 · Barrett Financial Group (NMLS #181106) · Phoenix, AZ
Mark Fazio is a licensed Phoenix mortgage broker with 10+ years of experience and over 1,000 home loans closed. He shops dozens of lenders to find the lowest rate on purchase, refinance, and specialty loans, and personally guides every client from the first call through closing.