{"specialty":{"slug":"renovation","category":"loan_program","label":"Renovation loan (203k / HomeStyle)","description":"A loan that finances the purchase or refinance plus the cost of repairs, such as FHA 203(k) or Fannie Mae HomeStyle.","synonyms":["renovation","203k","203(k)","homestyle","fixer upper","fixer-upper","rehab loan","remodel loan","chenoa renovation"],"why_hard":"Contractor bids, consultants, draw schedules and as-completed appraisals add steps many loan officers avoid.","questions_to_ask":["How many renovation loans have you closed, and which programs?","How do contractor draws and inspections work?","What happens if the renovation runs over budget?"],"canonical_url":"https://lendb.ai/s/renovation","api_url":"https://lendb.ai/api/v1/specialties/renovation"}}