Renovation Loans

Let’s Restore Your Drea, Together with a renovation loan by NRL Mortgage

Not only can a renovation loan from Envoy Mortgage help you turn a place with potential into the home of your dreams, it could also save your approval

How? If you’re having difficulty getting approved for a loan on a place that needs improvement, a renovation loan may help,. Movement offers several renovation loans created to cover the property, plus minor or major repairs

Renovation loan options:

FHA 203(k) Standard & Limited:

NRL requires a minimum 620 credit score on all FHA loans no maximum amount, 203k self-help and contractors related to the borrower are not allowed. Manufactured and on-frame modular homes are not allowed. 

FHA 203(k) Limited:

no minimum repair cost and covers a max budget of $35,000 toward repairs. This renovation loan is intended for less intensive changes or updates such as roof repair, replacement of HVAC, flooring or minor remodeling work. 

FHA 203(k) Standard:

203k standard covers many “major” repairs, such as structural repairs, moving or altering a load-bearing wall, or even knocking the house own to rebuild it as long as you leave part of the existing foundation in tact.

HomeStyle® Renovation for Owner-Occupied & Investors

NRL Mortgage requires a minimum 620 credit score on all conventional loans.

HomeStyle® Renovation For Owner-Occupied

No minimum renovation cost required
Includes the cost of purchase and repairs all in one loan
Maximum renovation cost is 75% of the “as completed” appraised value of the property

HomeStyle® Renovation For Investor

An investment-specific loan covering single unit properties with all renovation work allowed, including luxury additions, and a minimum down payment of 15%. Investment properties purchases go up to 85% LTV with optimal credit score at 620 or above. 

A renovation loan by The Loan Rangers Lending Team can restore your homeownership dream AND let you make the home your own. Let us show you how. 

Interested in taking the first steps?


👉 620+ Fico score requirements

👉 Taking an eye sore and making it turnkey ready

👉 Giving you the chance at immediate equity in the home after renovation work is completed

👉 Beauty projects to make the home to your liking

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NMLS ID 181407



NRL Mortgage. NMLS ID# 181407 (www.nmlsconsumeraccess.org)
An approved equal housing lender. Equal Housing Opportunity. Fair Housing & Discrimination violations will be reported online to HUD’s local FHEO Regional Office or by calling the Fair Housing Complaint Hotline at 1-800-669-9777

Last Updated 9-26-2021

© 2021  by The Loan Rangers Lending Team

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