Renovation Loan Budget Calculator
210 Mortgage • Your next step
Need help planning your renovation financing?
Explore the project budget and proposed financing before reviewing the property, improvements and lender requirements.
No texting app on this device? Text (210) 204-8249 from your phone.
Calculator estimates are educational. A real mortgage professional can review your circumstances, documentation and lender requirements. A scenario review is not a loan approval or a guarantee of terms.
210 Mortgage | NMLS #219381
Renovation Loan Budget
Use the renovation loan budget calculator to estimate purchase-plus-renovation uses, contingency, proposed financing and cash needed against an as-completed value.
Your scenario estimate
Complete the numbered sections, then select Calculate.
- Purchase and renovation uses
- Contingency dollars
- Proposed loan / completed value
- Loan/deposits beyond modeled uses
No automatic HomeStyle/CHOICERenovation/FHA203(k) improvement caps, down payment, contingency requirement, fee schedule, MI or program limit. Excess is flagged for review rather than treated as borrower cash.
Want me to review these numbers?
Send your question and, if you choose, attach these estimates for a personal scenario review.
Educational estimates, not approval, a rate quote or a commitment to lend. Entered rates are hypothetical modeling assumptions, not currently available 210 Mortgage rates. No APR calculation, future-rate forecast or automatic eligibility decision. User-entered fees, ratios and forecasts are assumptions. Results do not establish eligibility, a rate offer or an available credit limit. 210 Mortgage • Tyler Krug NMLS #219381 • Mortgage loans originated through My Community Mortgage, LLC NMLS #2408499 • Equal Housing Lender. See site licensing and disclosures.
How to Use the Renovation Loan Budget Calculator
Step 1: Purchase and renovation
Enter purchase price, renovation contract, contingency percentage, eligible financeable fees and cash-only costs. Include each charge once. Lender limits and eligible improvements differ across HomeStyle, CHOICERenovation and FHA203(k).
Step 2: Proposed financing
Enter proposed base loan, as-completed value and funds/deposits already credited to the transaction. Program upfront fees must be entered among financeable uses and reflected in the proposed loan only when supported.
Calculate, compare and request a review
Choose Calculate to see your estimate. Change one assumption at a time and calculate again. Contact information is optional. Use the review form or Text a Question when you need help verifying the inputs.
How the Calculator Works
Financeable/project uses=price+rehab+rehab×contingency%+other accepted financeable uses. Cash need=max(0,uses+cash-only costs−proposed total loan−already credited funds). LTV=proposed loan/as-completed value; actual value basis and program limits are external.
Example calculation
Hypothetical example, not an available loan offer. A $300,000 purchase and $50,000 renovation with10% contingency have $355,000 uses before other costs.
How to interpret your results
This is a budget, not an agency maximum loan calculation. Approved scope, as-completed appraisal, eligible costs, reserve requirements and draw administration can change financing.
Assumptions and factors that change the result
No automatic HomeStyle/CHOICERenovation/FHA203(k) improvement caps, down payment, contingency requirement, fee schedule, MI or program limit. Excess is flagged for review rather than treated as borrower cash.
Frequently asked questions
Does this calculate an agency’s maximum renovation loan?
No. It totals purchase and project uses against your proposed financing. Program-specific value bases, eligible improvements, contingency rules and maximum loans require a separate review.
Do these results mean I am approved?
No. The tool calculates the entered scenario. Documentation, property eligibility, program rules and lender review remain separate.
What should I do when an input is uncertain?
Use a documented quote or clearly labeled planning assumption. Change one input at a time, calculate again, and request a review before relying on it.