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Nashville Fab Living

Nashville Fab Living

Discover Nashville Real Estate with Shameka Britton, REALTOR®

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Unlock Your Dream Home With Renovation Loans in Nashville

Many buyers consider a fixer-upper because it can open doors to neighborhoods and price points that might otherwise feel out of reach. Instead of stretching your budget on a move-in ready home or giving up on your ideal location, you can purchase a property that needs work and use a renovation loan to finance the updates. This way, you get the home you want in the area you love while building in the improvements that truly fit your style, all within one mortgage.

Contents hide
1 Who this works best for
2 Where I see this work well locally
3 What to expect with different programs
4 Common projects that work well
5 A quick real-life example from my files
5.1 Renovation Loan Contractor Checklist:
6 Final thoughts
7 ADDITIONAL BUYER’S TIPS
7.1 Mortgage Denied? What Nashville Buyers Need to Know
7.2 Donelson? The East Nashville Vibe—With A Better Price Tag
7.3 Why Madison TN is the Best Move for 2025

As a real estate agent, I see renovation loans as a tool that gives buyers more options in Nashville’s expensive market. The key is understanding how these programs can open doors to the right home while helping you avoid common pitfalls along the way. That’s where renovation loans in Nashville can make all the difference.

Who this works best for

  • Buyers who want their preferred location but can’t find a move-in ready home in budget
  • People who are open to renovations and want those costs rolled into their mortgage
  • Veterans using a VA renovation loan, FHA buyers using a 203(k), or strong-credit buyers using a conventional program

Where I see this work well locally

Neighborhoods like Madison, Donelson, Antioch, Whites Creek, and Goodlettsville often have homes with solid bones that just need updates. These areas can offer more square footage or larger lots for the price, making them good candidates for a renovation loan strategy.

Once you’ve identified the right neighborhood, the next question is: how much money will you need upfront? That’s where the different loan programs come in.

What to expect with different programs

Here are some basic details about the different types of renovation loans:

  • VA Renovation Loan: Eligible veterans and service members can purchase with no down payment.
  • FHA 203(k): Typically requires a small down payment, usually starting around 3.5%.
  • Conventional renovation loans: Often start at about 5% down.

The exact terms will come from your lender, but from my perspective as your agent, the key takeaway is that renovation loans may require some upfront funds. They won’t usually pair with down payment assistance programs, so it’s important to prepare your budget realistically.

Common projects that work well

Kitchen updates, bathroom remodels, flooring, roof replacement, HVAC, electrical panel and wiring updates, plumbing repairs, windows and doors, crawlspace and moisture remediation, accessibility improvements, and structural repairs recommended by an inspector or appraiser.


A quick real-life example from my files

I recently worked with clients who were searching for a larger home in their desired area. We toured several houses on the market, but none of them offered enough space. Then they found a home they loved, but it needed work. Instead of going with a traditional VA Loan, they inquired about using a VA Renovation Loan so they could purchase the property they really wanted. The home was nearly 1,000 square feet larger than most of the others we had seen, and it was right in their target location.

Once we moved forward, the next challenge was choosing the right contractor. They interviewed multiple contractors before selecting one, but we didn’t know what specific credentials were required until after the contractor was chosen. That led to delays once the lender review began. It’s exactly why I created the checklist below, to give buyers a clearer picture upfront. Another big takeaway was making sure the scope of work matched the budget. It’s common to hope for every repair or update at once, but renovation loans work best when the focus is on the priorities tied to the loan and appraisal. The rest can be saved for a future phase, which helps keep costs manageable and the project on track.

This experience shows how important it is to select the right contractor and set realistic expectations from the start. With that in mind, here’s what I recommend you ask for when choosing one.

Renovation Loan Contractor Checklist:

1. Verify Credentials
As you are interviewing contractors, ask if they have the following credentials.

  • Active state license
  • General liability insurance
  • Workers’ compensation coverage or a valid exemption
  • Lead-based paint certification for older homes
  • VA builder registration if it’s a VA renovation loan

2. Review Experience and References
Ask about their track record and review past work.

  • Several years in business under the same name
  • History of completing residential renovation projects similar to yours
  • Experience working with renovation loans (preferred)
  • References you can contact directly
  • Photos or examples of past completed projects

3. Interview Multiple Contractors
Don’t stop at just one bid. Meet with several contractors so you can compare not only price but also credentials, communication style, and experience. Choosing the cheapest option is not always the best choice. Your contractor must meet lender requirements and have the right background to keep the process on track.

4. Ensure Lender Paperwork is Complete
What I’ve learned from my lender partners is that the loan can’t move forward until all paperwork is submitted. To avoid delays, check that your contractor provides:

  • Lender’s contractor questionnaire completed
  • W-9 form provided
  • Detailed, itemized bid that matches the project scope exactly
  • Realistic project timeline with estimated start and finish dates
  • Plan for inspections and draw requests submitted
    (You or your agent should follow up regularly to ensure these are submitted promptly.)

5. Confirm Communication and Organization
A reliable contractor will keep you informed and the process on track.

  • One designated main point of contact for the project
  • Proactive coordination with appraisers, inspectors, and your lender
  • Regular progress updates provided
  • Quick responses to questions
  • Adherence to agreed timelines

Final thoughts

Renovation loans aren’t just about buying a house. They’re about creating the home buyers have been picturing. They require planning, patience, and the right people on their side. From my side as your agent, I’ll help you identify where this strategy makes sense, keep expectations realistic, and connect you with trusted lender partners and contractors so you can move forward confidently. If you’re considering renovation loans in Nashville, let’s talk about whether it’s the right move for you.


ADDITIONAL BUYER’S TIPS

Mortgage Denied? What Nashville Buyers Need to Know

Restaurant in Donelson, Nashville TN area.

Donelson? The East Nashville Vibe—With A Better Price Tag

Photo of the front of the office of Madison Chamber. With a view of Harken Hall on Madison Blvd.

Why Madison TN is the Best Move for 2025

Shameka Britton is a real estate licensee affiliated with Compass RE, a licensed real estate broker and abides by equal Equal Housing Opportunity laws.

About Shameka Britton

Shameka Britton, REALTOR®-COMPASS RE
Experience the power of personalized real estate guidance in Middle TN! I'm not just your agent, but your advocate, consultant, and partner. My mission is to educate you, guide you, and ensure your journey to homeownership is seamless. For world-class service that extends beyond the transaction, contact me, Shameka Britton, at [email protected] or 615-669-3989

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Shameka Britton, REALTOR®
Affiliate Broker | Compass RE
3990 Hillsboro Pike, Suite 320 & 340, Nashville, TN 37215
o: 615.475.5616
m: 615.669-3989

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Shameka Britton is a real estate agent affiliated with COMPASS RE, a licensed real estate broker and abides by all applicable Equal Housing Opportunity laws. All material presented herein is intended for informational purposes only. Information is compiled from sources deemed reliable but is subject to errors, omissions, changes in price, condition, sale, or withdrawal without notice. No statement is made as to accuracy of any description. All measurements and square footages are approximate. This is not intended to solicit property already listed. Some or all of the listings may not belong to the firm whose website is being visited. Nothing herein shall be construed as legal, accounting or other professional advice outside the realm of real estate brokerage.