In a busy housing market, it’s easy to feel discouraged when you can’t access a home in your dream neighborhood. Or perhaps you don’t have quite enough buying power to live in that top-rated school district. At Evergreen Home Loans, we know the importance of making a house a home. With that in mind, we offer homebuyers renovation loan options so they can take that fixer upper and turn it into their dream home.


With renovation loans, eligible homebuyers or owners can make improvements or repairs and roll those into the purchase or refinance of the home, so you only worry about one mortgage inclusive of both home and renovation costs.


There are two main types of renovation loans, dependent on the level of work required:

  • Limited 203K – The Limited 203K is a renovation loan that is used for homes that need minor repairs. Borrowers are able to finance the purchase of the home or refinance an existing home to make eligible non-structural improvements or upgrades of up to $35,000 before move-in. For this loan, there are no minimum repair costs.
  • Standard 203K – The Standard 203K loan is used for major renovations, when repairs are structural, upgrades involve landscaping or when the costs exceed $35,000. For this loan type, there is a minimum of $5,000 worth of repairs that need to be completed.


Another option is a One-Time Close loan is designed to finance construction or major remodel of a primary residence or second home with automatic conversion to a permanent loan.


So even if the house doesn’t have instant curb-appeal, with the right program, you could turn that fixer upper into a dream home.  Our teams are standing by in your local area to guide and advise you on a loan program that works for your situation. Call us at 1-800- 376-4603 or contact us at


No matter if you have a few general questions, or are ready to get pre-approved we would be glad to help. Let us help you turn that house into a place you call home!