Can renovations be included in mortgage?

Can I include renovation costs in my mortgage? What are the options available for financing home renovations through a mortgage?

Yes, you can include renovation costs in your mortgage! One popular option is a renovation loan, like the FHA 203(k) or Fannie Mae HomeStyle loan. These loans let you borrow money for both the home and renovations, making it easier to finance your project. You can also consider a cash-out refinance, where you tap into your home equity to fund renovations. It’s best to consult a mortgage expert for personalized advice!