Project Specific

Finance the upgrades that matter most: kitchens, bathrooms, roofing, and windows

Prospera Mortgage offers you loans through top wholesale lenders to match you with competitive pricing, faster turn times, and options that fit first-time and repeat buyers alike.

Why Project Specific Renovation Loans?

Purpose-built financing, less friction

  • One team, multiple products: Choose among FHA 203(k), second-lien renovation loans, and quick home-improvement funding.

  • After-Renovation Value (ARV) access: Borrow against your home’s projected value on select second-lien options.

  • Project-specific guidance: We scope loan type to the work - kitchen, bath, roof, windows-for clean approvals.

  • Builder/contractor friendly: Clear draw processes and document checklists to keep work moving.

Document Checklist

Be application-ready

  • Government ID & SSN

  • Income & asset docs (paystubs, W-2/1099, bank statements, tax returns if applicable)

  • Builder contract, plans/specs, budget & draw schedule

  • Property’s documentation, permits, and insurance as required

What to Expect

From Bid to Close

  1. Scope & Bids: Lock your project scope; get contractor bids.

  2. Pre-Approval: We size 203k vs. second-lien vs. fast funding loans.

  3. Appraisal & Docs: ARV or HUD-guided appraisal as needed.

  4. Close & Fund: Repair escrow/draws or direct funding based on program.

Construction Programs Available

FHA 203k

Finance the home and the renovation in a single FHA-insured mortgage. Eligible for projects like kitchen & bath remodels, roofing, windows, drainage systems, and more (per HUD rules).

  • Standard 203k: Larger/structural projects; HUD consultant; draws from repair escrow.

  • Limited 203k: Non-structural projects up to $35,000 in repairs; streamlined process.

ARV Second-Lien

Keep your existing first mortgage. Access funds via a second lien that can use after-renovation value (ARV) to boost borrowing power on major projects.

  • HELOAN (fixed) or HELOC (revolving) structures available.

  • Great for large kitchen/bath overhauls or combined roof + windows.

Fast Funding

Quick approvals with funds disbursed to you up-front, helpful for defined scopes with tight timelines via select home-improvement financing partners.

  • No equity or appraisal required in many cases.

  • Useful for single-trade jobs (roof or windows) or smaller kitchen/bath phases.

Renovation Loan FAQs

  • Yes. HUD lists complete kitchen/bath remodels and roof/window replacements among eligible improvements for FHA 203(k), subject to program rules and caps.

  • A second mortgage (HELOAN or HELOC) that sits behind your first mortgage. Some programs use your home’s after-renovation value to increase borrowing power.

  • Standard is designed for larger/structural work and uses a HUD consultant; Limited streamlines non-structural repairs up to $35,000.

  • Timelines vary. First and second-lien mortgages follow full underwriting. Fast home-improvement options can often fund quickly with minimal documentation.

Prospera Mortgage LLC is an independent mortgage broker. Programs, rates, terms and eligibility are subject to change without notice and may vary based on borrower profile, property type, occupancy, and market conditions. Not a commitment to lend. All loans are subject to underwriting approval. Equal Housing Opportunity.