Types of Reno Loans

FHA 203(k)

Limited: Perfect for smaller projects and a total cost under $35,000 without structural renovations.
Standard: Ideal if the total project cost is over $35,000 or structural repairs are in your renovation plans.
Low down payment of 3.5% of the total acquisition cost for single-family or multi-family homes up to four units.

Fannie Mae Homestyle & Freddie Mac Choice

Down payments start as low as 3% of the total acquisition cost – perfect for renovation projects big and small.
Follows conventional guidelines

VA Renovation

Eligible veterans can qualify for 100% financing to purchase and renovate a home.
Tailored for cosmetic renovation projects with a total cost under $50,000 without structural repairs.

USDA Renovation

USDA renovation loans are 100% financing loans backed by the U.S. Department of Agriculture. They enable eligible, qualified borrowers to
purchase a fixer-upper and renovate with no money down. Assistance to low- and moderate-income rural residents whose income is equal to or less than 115% of the area median income

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The Standard 203(k) may be used to purchase or refinance a home that needs remodeling and/or structural repairs. There is a minimum rehabilitation cost of $5,000 and the use of a 203(k) consultant is required.

Max completion time: 180 days (6 months)

Landscaping and hardscaping allowed

$5K minimum and no max repair amount

Structural changes are allowed


The Limited 203(k) may be used to purchase or refinance a home that needs minor remodeling and non-structural repairs not exceeding $35,000. The use of a 203(k) consultant is not required and there is no minimum rehabilitation cost.

Minor remodeling

HUD consultant is not required

Max completion time: 90 days (3 months)

No min and up to $35K in total renovations

Our goal is to provide excellent customer service.

Lori H

I’ve had the best experience for being a first time homebuyer,everyone was beyond helpful and explained all the steps in detail to someone with zero knowledge of the home buying process.

David A

My City was fantastic to work with. They were extremely knowledgeable and answered all questions quickly.

James S

Honestly, the process of me receiving and acquiring my mortgage was professional, efficient, and satisfying. I want to thank everyone at My City for they have done for me.

About the loan

This loan program provides financing to buy fixer-uppers and to fix them up all in one loan. It’s a great loan program that helps people buy homes they want and make them look how they want all without breaking the bank.

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