What are the requirements for a renovation loan?
The qualifications for a renovation loan will vary from one lender to the next. In most cases, you will have to take out the loan on a property that has from one to four living units in it. You will also have to have an adequate credit history.
With this type of loan, you will also have to make sure that the repairs to the property are completed up to the standards of the lender. If you have an FHA loan, a building inspector will be sent out to the property in order to make sure that all of the repairs are done correctly.