The right house needs work. The finished one is gone.
The house on the street you want needs $90,000 spending on it.
The house that needs nothing sold in twelve days.
Send the listing and a bid. No credit check to start.
- Buys the house and pays for the work
- Sized on what it will be worth when finished
- The work money sits safely in escrow
- Your builder is paid as each stage passes
- Works on a purchase or on the home you own
A renovation loan lets you compete for the houses everyone else has to skip.
Licensed mortgage broker · NMLS 179997
Office in Vienna, Virginia
We speak 8 languages
You are competing for the wrong houses.
Virginia homes sold in a median of 12 days in June 2026; homes sitting longer often need work.
A standard mortgage usually will not finance a home in poor condition or future renovations.
Buying first and paying for repairs separately can mean using savings or expensive credit, which is why so many buyers eventually search for mortgages for renovations or a buy-and-renovate loan instead of paying cash out of pocket.
A renovation loan uses the home’s after-improvement value and holds renovation funds in escrow.
Contractors are paid through a draw schedule, with funds released as each stage is completed and inspected.
The escrow provides added protection while the work is underway.
Which one of these is you?
Almost every renovation loan we place starts in one of these six spots.
You found the right street, the wrong kitchen
Location is fixed, but condition does not have to be. Utilizing a flexible HomeStyle loan on a normal file, or opting for an FHA 203(k) alternative if your credit score or initial deposit is tighter, seamlessly folds all necessary improvement work into one single comprehensive renovation loan for your peace of mind.
The house cannot pass an appraisal
Peeling paint, a failed roof, no heat. A normal loan refuses it, and the seller will not fix it. FHA 203(k) exists for this, and a credit score of 620 is usually enough. This is one of the clearest cases of a construction loan for purchase and remodel working better than a standard mortgage.
You own the house and do not want to move
Refinancing into a renovation loan funds an extension against the after-improved value, with no down payment needed. That beats borrowing against today’s value, and covers cases like a construction loan for a home addition or construction loan for an addition where you are expanding rather than buying new.
You are building rather than buying
A construction-to-permanent loan funds the build in stages and becomes a normal mortgage at the end, sometimes called how a construction loan converts to a mortgage works. One closing, not two, and the draw schedule is agreed before work starts. This differs from a VA one-time close construction loan lenders program, which follows the same one-closing structure but through VA financing specifically, worth reviewing on our VA loans page if you are eligible.
A builder is pushing you to their lender
Preferred lenders are certainly convenient, but they are rarely the most affordable option available on the market. Getting a second quote on the exact same construction-to-permanent deal costs you absolutely nothing and frequently changes the overall terms and pricing you are originally offered. Shopping around ensures you secure the best financial deal possible before committing your money.
You are renovating a rental
HomeStyle effectively covers investment property financing at a slightly lower loan-to-value ratio, and a standard construction-to-permanent build functions in the exact same reliable way. However, if you are managing a larger portfolio of properties, a specialized DSCR loan may suit your investment strategy much better, which our comprehensive DSCR and investment property loans page covers in full detail for you.
Everything happens before you close.
That front loading is why these files fail. A construction to permanent build works the same way. Here is the order.
A contractor and a bid
A licensed builder with a written bid before closing. Start that conversation before you write the offer. Buyers without a contractor lined up yet can also look into general contractor financing or home improvement lenders for contractor relationships that some builders already have in place.
An appraisal on the plans
Appraiser aapke diye gaye drawings aur blueprints ke mutabiq improvement ke baad ki value ko calculate karta hai, na ki us value ko jo ghar ki halat aaj ke waqt mein maujood hai. Isse aapko apne naye renovation project ke liye bilkul sahi aur behtareen andaza mil jata hai.
A safety margin
Kisi bhi tarah ke unexpected kharcho ya surprise se bachne ke liye lagbhag 10% se 15% tak ka contingency reserve reserve rakha jata hai. Agar aapka ghar purana hai, toh aapko is reserve ka istemal karne ki zaroorat pad sakti hai.
A payment plan
Har ek stage par inspection ke sath ek draw schedule taiyar kiya jata hai. Builder ko paise tabhi diye jate hain jaise-jaise kaam aage badhta hai, isse pehle kabhi bhi payment nahi di jati taaki aapka kaam puri tarah surakshit rahe.
The right program
FHA 203(k) allows a 3.5% down payment and a lower credit score, similar to what many FHA construction loan lenders offer for new builds as well. HomeStyle wants stronger credit and more down, but funds more, including work FHA will not touch.
The contingency reserve is not a fee. Anything unused comes off your balance at the end.
A bank has one answer. We have several.
These are heavy files, and most lenders who advertise a renovation loan close very few. The difference between weekly and occasional shows up as months. If you have been searching for a construction loan broker near me, construction lenders near me, or a general construction loan near me, this is exactly the gap a broker closes: one call instead of a dozen.
We check the numbers before you offer
Price plus work against the likely after-improved value, and the down payment that implies. If the appraisal will not support it, better to know now. A basic basement renovation financing project or a full remodel construction loan both start with this same check.
We pick the right program
Structural work, luxury items and small cosmetic jobs land in different places. Choosing the wrong renovation loan is the costly mistake here, and understanding a renovation loan vs construction loan or construction loan vs renovation loan distinction upfront avoids that mistake entirely.
We manage the draw schedule
Inspections, releases, and paperwork with your contractor. Left to the borrower, a draw schedule is where projects stall, whether the underlying structure is a renovation/construction loan hybrid or a straightforward construction project loan.
We price against the builder lender
Not to win an argument. So you can see what the incentive is actually worth. This is also where comparing offers from local mortgage companies in virginia, or checking a shortlist of best mortgage lenders in Northern Virginia, pays off most clearly.
SAI Mortgage, Inc.
Is committed to helping you find the right mortgage product for your needs, whether you’re exploring a home mortgage loan, considering a home mortgage loan in Virginia, or comparing other financing options. We understand that every borrower is different, and as a licensed Virginia mortgage lender, we offer a variety of products to meet your individual requirements, ensuring you receive guidance that fits your unique financial goals. See our full range of programs on our homepage.
Three steps. That is it.
Most people are pre-approved within two days.
Tell us how you get paid
Have a short conversation with our friendly team in your preferred language if you wish. Please rest assured that there is absolutely no credit check required at this very initial stage of your application.
We shop it for you
We check many lenders and send you what you qualify for, in writing, comparing against credit unions that do construction loans and credit union construction programs when those terms are more competitive than a standard bank offer.
You get the keys
We professionally manage everything else from start to finish and ensure your successful closing happens precisely on the date you need it, making your home buying journey completely smooth, straightforward, easy, and entirely stress-free.
Licensed in Virginia, DC and Maryland.
From our office in Vienna, we serve buyers across the Commonwealth, and your file follows you if you move across state lines. Buyers exploring a Virginia credit builder loan to strengthen their profile before applying, and a credit union construction loan or best credit unions for va home loans in virginia comparison, can ask us to run both against our standard lender panel before choosing.
Northern Virginia
I-95 Corridor
Hampton Roads
Central & Western Virginia
What people ask us first.
The questions that come up on almost every call.
Can I do the work myself?
Generally no. These programs want a licensed builder, and self help work is rarely allowed.
How much work can be financed?
This depends on the program and the after-improvement value the appraiser assigns. FHA 203(k) has lower limits suited to moderate repairs, while HomeStyle and a full construction renovation loan structure can finance more extensive projects, including work FHA will not touch.
What if the work costs more?
That is what the contingency reserve covers. Past that, changes need approval and sometimes your own money.
Can I refinance a construction loan I already have, or convert it once the build is done?
Yes. Despite the name, can you get a construction loan for a remodel is a common question, and the answer is yes: a construction loan structure works for a major remodel just as it does for ground-up building, provided the scope of work and contractor documentation meet the lender’s requirements. A construction loan to renovate an existing structure follows this same draw and inspection process from start to finish.
Does it work above the county limit?
Yes, through a jumbo renovation loan, though credit, reserve, and down payment requirements are stricter than on a conforming file, similar to standard jumbo purchase guidelines.
Send the listing and the bid.
That is enough for us to tell you whether the numbers work before you spend anything on plans.
Most of our renovation loan files run through Falls Church, Arlington, and Loudoun County.
If you are still house hunting, tell us before you write the offer. On these files, the order matters more than anything.