Renovation Mortgages are loan products which finance the repair or improvement of residential properties.  Renovation Mortgages are available to purchase or refinance primary residences, 2^nd homes or investment properties.  FHA 203k, USDA Rehabilitation & Repair and VA Renovation loans are for primary residences.  Fannie Mae HomeStyle and Freddie Mac HomeChoiceRenovation can be used to finance primary residences, 2^nd homes & investment properties.  A renovation consultant may be required for the transaction.  Repairs and/or improvements must be completed by licensed and insured contractors.