Yes, a home mortgage loan can include renovation costs, however most rehab loans to improve properties are done using an FHA loan known as the FHA 203k loan. These loans require a 3.5 percent down payment on the total of the purchase and the amount of the home improvements needed.
Our mortgage officers are very skilled at these mortgage loans. Call us for more information at 865-429-2797.
NMLS # 167526
Disclaimer: This is not a commitment to lend or extend credit. All loans are subject to credit approval including credit worthiness, insurability, and ability to provide acceptable collateral. Not all loans or products are available in all states or counties. Bank of England Mortgage is a division of Bank of England. NMLS 418481. Member FDIC.