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Purchase & RenovateSM Loan

The Purchase & RenovateSM program provides the following:


If I buy a home, I won't have money to do repairs.


The Wells Fargo Renovation Loan allows you to purchase your home and finance repairs in one transaction.


  • One loan to purchase a home and make renovations or repairs. 
  • Conventional or FHA 203(k) loan options.
  • Available with a fixed- or adjustable-rate. 
  • Includes single-family, one-to-four units, planned unit developments, and condominiums. 


  • Finance renovation costs. Loan amount is based on the home value after improvements are made. 
  • Lower monthly payments. Costs are spread throughout the term of the loan, so your monthly payments may be lower than other financing options. 
  • More choices. Look at properties you wouldn't otherwise consider. 
  • Speed. Start improvements right after closing. (Restrictions apply).
  • Tax deductibility. Interest may be tax deductible. (Consult your tax advisor about the deductibility of interest).


  • Although FHA loans have the benefit of a low down payment, in many instances, FHA may be a more expensive financing option and should be considered after thoroughly evaluating all other product options that meet your credit qualifying and financial needs. 
  • Financing may not be available for luxury items, such as a pool, hot tub or spa with all programs. 
  • Requires hiring a contractor.
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