If you’ve been house hunting, you’ve probably noticed one big challenge—there aren’t enough homes on the market. With high demand and limited supply, buyers often find themselves in bidding wars over move-in-ready properties. But what if you could expand your options and create the perfect home rather than waiting for the right one to appear? That’s exactly what renovation loans, like the FHA 203(k) loan and HomeStyle loan, allow you to do.

These loans help you finance both the purchase price and the cost of renovations into a single mortgage. Instead of waiting for a home that checks all your boxes, you can purchase a fixer-upper and customize it to fit your needs. Whether it’s updating an outdated kitchen, adding an extra bedroom, or modernizing an older home, renovation loans provide the flexibility needed to turn a less-than-perfect house into your dream home.

Why This Matters Right Now

• More Buying Options – In a low-inventory market, renovation loans let you consider homes that may not be appealing to other buyers simply because they need work.
• Less Competition – Homes that need renovations often receive fewer offers, meaning you can avoid bidding wars and potentially negotiate a better price.
• One Loan, One Payment – Instead of taking out a second loan or dipping into savings for renovations later, everything is wrapped into one convenient mortgage.
• Increase Home Value – Renovations can significantly increase a home’s value, helping you build equity faster.

With home prices remaining high and move-in-ready properties in short supply, using a renovation loan can be a strategic way to secure an affordable home and make it exactly what you want.

Why Choose Ross Mortgage?

For 75 years, Ross Mortgage has been helping homeowners navigate the mortgage process with expert guidance and personalized service. We are committed to finding the best loan solutions for you, whether you’re purchasing, refinancing, or renovating. With extensive experience in FHA 203(k) and HomeStyle loans, our team is ready to help you turn your dream home into a reality.

Ready to get started? Complete this form and an experienced Ross Mortgage loan officer will contact you and help you find the right loan option.