Financials are a big part of remodeling. If you are among the many who want to remodel but don’t have the immediate funds available, you may be thinking, how can I afford to remodel? You will be pleased to learn that there are several ways that you can get started without having to cough up the cash upfront by financing your home remodel. 

Many people find the word financing to be offputting and, quite frankly, a bit scary. If you haven’t financed many things or worked with a loan officer you felt you could trust, financing may not be the option you jump to first. But today, financing is one of the main ways that people like you create homes that they can live in for the next 5, 10, or 20+ years. With the rising housing market we are currently facing, remodeling your current home is becoming almost as common as moving into a new one. 

What are the options when financing your home remodel?

You aren’t stuck with a single option when you finance your home remodel. Below is a list of the top four finance options from our remodeling finance expert, Tom Yoswa.

Renovation Loan

Finance your renovations into your mortgage!

Loans up to $647,200 and higher in some areas

Borrow up to 95% of the “after improved” value of your home

The loan value is based on your home’s current value plus the renovations per the appraisal

One time close with competitive rates; 30-year fixed product just like your existing mortgage!

construction Loan

Finance the cost of construction into one loan after completion.

Two-time close, one with construction lender and one for the permanent financing

Great for properties that fall into the jumbo loan parameters (higher valued homes)

Borrow up to 75% of your home’s “after improved” value (depends on the final loan amount and the current equity you have in the home)

Cash-out refinance

Borrow up to 80% of the present value of your home

A great option if you have a lot of equity in your property

Fixed 30-year loans; works for traditional loans and jumbo loans

Home Equity Line of Credit

Borrow up 85-90% of your home’s current value

These are second liens on your property

Variable rates that can go up if the prime rate goes up

Fixed options are available but often at much higher rates

Make Your Dream Home a Reality By Remodeling

We have partnered with a lending professional that we know and trust to help you make the best decision on financing your home remodel. Call or visit our partner, Tom Yoswa, for a consultation. He will work with you to determine which finance option will best fit your needs and get you on the right track to get started! 


Caliber Home Loans
Loan Officer

Renovation Specialist

NMLS#379218; Licensed in CO, MN, IL

8400 E. Prentice Ave #1002
Greenwood Village, CO. 80111

W: 720-907-9216 | C: 303-668-4499 | F: 844-566-0276
Home Office: 303-690-9877

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