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203k & Renovation Loan Options in Metro Atlanta
Whether you call it a home improvement loan, construction loan, renovation loan, or rehab loan...
If you’re anywhere in the Metro Atlanta area, chances are you’re talking about a 203k Renovation Loan (FHA 203k), a VA Renovation Loan, or a FNMA HomeStyle Loan.
Below, we’ll cover where to find experienced 203k and renovation loan lenders — and we’ll also share an important warning before you move forward.
What Is a 203k or VA Renovation Loan?
Simply put, FHA 203k, FNMA HomeStyle, and VA Renovation loans allow home buyers to finance renovation and improvement costs directly into their mortgage when purchasing or refinancing a home.
These loan programs give homeowners access to funds for repairs and upgrades — whether you’re handling basic improvements or transforming the home into something truly your own.
Eligible renovations may include appliance upgrades, painting, kitchen and bathroom remodels, energy-efficient improvements, plumbing work, roof repairs, and more.
Renovation Loan Programs Include...
FHA 203k & FHA 203k Limited
* Repairs-structural or cosmetic allowed
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Up to 110% of appraised value
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Owner occupied, primary residence only
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Up to 6 months mortgage payments rolled into loan
VA Renovation Loan
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100% Financing allowed
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No consultant required
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Owner occupied, primary residence only
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Maximum renovation total 35K
Homestyle Renovation Loan
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Purchase or Refinance SFR, PUD, 2-4 unit and condos
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Primary, second home or investment properties
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Up to 6 months mortgage payments rolled into loan
Expert Tips for Choosing a 203k or Renovation Loan Lender
There are several loan options available to finance value-enhancing improvements or required repairs — but a word of caution is absolutely necessary.
Over the years, we’ve heard just as many horror stories about inexperienced lenders who didn’t understand the 203k process as we have about contractors who didn’t know what they were doing.
That’s why when someone calls us looking for a 203k contractor, we always ask one critical question first: “How many 203k renovation loans has your lender actually completed?”
Surprisingly, almost no one asks this — until we suggest it.
If a lender tells you they’ve only done one or two renovation loans, our advice is simple: RUN (unless you’re already locked in).
The 203k renovation loan process can be complicated and confusing for those without real, hands-on experience.
You want to surround yourself with experience and competence — not confusion. This applies equally to your lender, contractor, and consultant. If a consultant is called for)
By the way, the HUD consultant we work with actually wrote the guidelines for the 203k program! He's the best in the business!
At Metro Renovations & More!, we pride ourselves on working with — and referring clients to — the most experienced renovation loan experts and consultants in the business.
The lenders we work with have successfully closed thousands of 203k and other renovation loans over the years. That level of experience is what ensures a smooth, predictable process.
If you’re considering a 203k or other renovation loan — or simply have questions — give us a call.
We’ll briefly discuss your project and, if needed, connect you with a renovation loan lender who will impress you.
And when it’s time for a qualified 203k contractor, we’ll be at your service.
Metro Renovations & More!
770-549-5081
* Disclosure: We refer only the most experienced renovation loan lenders to help ensure a smooth process for you and your contractor (hopefully us!) — not to “make a buck.”
In fact, lenders are legally prohibited from providing referral fees of any kind. They couldn’t even send us a gift card for a Happy Meal — doing so would violate federal lending regulations and could cost them their license.
* Want help understanding renovation decisions, inspection repairs, or insurance claim challenges?
Visit our Educated Consumer resource hub for practical guidance homeowners across Metro Atlanta use to avoid costly mistakes.