Renovation Lending Specialist

Love the Location, But the House Needs Work? We Can Help.

Perfect neighborhood. Great schools. Walking distance to everything. But the house? It needs... everything. Most buyers walk away. Smart buyers call Sean — because one loan can buy the house AND fund the entire renovation.

Sean Shallis — U.S. Bank Renovation Lending Specialist. Currently renovating 102 Wiltop Rd, Flemington NJ — practicing what he preaches. NMLS #2362814.

Watch: Renovation Financing Explained

How to finance the purchase AND the renovation with one loan.

The Opportunity Most Buyers Miss

Perfect Location

The neighborhood, the schools, the commute — everything is right

Below-Market Price

Ugly houses sell cheap. That discount becomes your renovation budget.

Instant Equity

Renovated value exceeds purchase + renovation cost. Day-one equity.

Example: Buy at $350K + $100K renovation = $450K total cost. Renovated value: $550K. That's $100K in equity before your first mortgage payment.

Renovation Loan Programs

FHA 203(k) — Standard

Best for: Major renovations (structural, additions, gut jobs)

Down: 3.5%

Credit: 580+

Limit: FHA county loan limits

Purchase price + renovation cost in one loan

Structural work, room additions, accessibility mods

HUD consultant required (they protect you)

6-month renovation window (extensions available)

FHA 203(k) — Limited

Best for: Cosmetic renovations under $35,000

Down: 3.5%

Credit: 580+

Limit: $35,000 renovation cap

Kitchen, bath, flooring, paint, appliances

No structural work

No HUD consultant needed (faster, simpler)

Great for homes that need cosmetic updates only

Fannie Mae HomeStyle

Best for: Conventional borrowers wanting higher limits and more flexibility

Down: 3-5%

Credit: 620+

Limit: Conforming loan limits (higher than FHA in many areas)

No FHA mortgage insurance premium (saves money long-term)

Higher renovation budgets possible

Luxury upgrades allowed (pools, landscaping, outdoor kitchens)

Investment properties eligible (FHA is primary residence only)

Construction-to-Permanent

Best for: Gut jobs that are essentially rebuilds (keeping foundation/structure)

Down: 10-20%

Credit: 680+

Limit: Jumbo limits available

For when renovation scope crosses into 'rebuild' territory

Draw schedule funds the project in phases

Single close — one set of closing costs

Best for projects over $200K in renovation scope

What Counts as "Renovation"?

Cosmetic

Kitchen remodel
Bathroom updates
New flooring
Paint & finishes
Appliances
Countertops & cabinets

Systems

HVAC replacement
Electrical upgrade
Plumbing overhaul
Roof replacement
Windows & insulation
Water heater

Structural

Room additions
Second story
Basement finishing
Garage conversion
Load-bearing walls
Foundation repair

Energy Efficiency Upgrades

Solar panels, energy-efficient windows, insulation upgrades, and smart home systems can all be included in your renovation budget — and may qualify for additional tax credits.

How It Works: 4 Steps

Find the Property

Even if it's ugly. Especially if it's ugly. The worse it looks, the better the price — and the more equity you'll build. Your realtor can help identify diamonds in the rough.

Get Contractor Bids + Project Scope

Line up a licensed contractor. Get a detailed scope of work and cost estimate. This becomes part of your loan application — the lender needs to see the plan.

Sean Structures the Loan

Purchase price + renovation budget = one mortgage. We pick the right program (203(k), HomeStyle, or Construction-to-Perm) based on your situation, credit, and project scope.

Close, Renovate, Live

Close on the purchase. Renovation funds are held in escrow and released as work is completed. When it's done, you're living in your dream home — in the neighborhood you love.

Coming Soon

Project Guardian — AI Renovation Management

We're building an AI tool that tracks every dollar, every milestone, and every contractor on your renovation project. Cost evaluator. Timeline tracker. Contractor scorecards. All in one place.

Learn More About Project Guardian

Found the Perfect Location with an Imperfect House?

Don't walk away. Let's talk about how to finance the purchase AND the renovation with one loan. 15 minutes could change everything.

Book a Call with Sean Explore All Renovation Programs

Get the Renovation Financing Guide

FHA 203(k), HomeStyle, construction-to-permanent — which one fits your project? We'll break it all down. Free.