Ways to pay for your project
Remodels, new builds, and VA-backed projects are financed three completely different ways. Start here, find the one that matches what you are doing, and skip the two that do not apply.
We build. Lenders lend. We help you line them up.
To be clear up front: we are your contractor, not a lender or a financial advisor. What we can do is help you understand the common ways to fund a project and give you the clear written scope and pricing a lender will want to see. The actual loan, its rate, and its terms come from the lender you choose, and you should compare offers.
Most homeowners we work with are not short on the whole budget. They are deciding whether to pull from savings, tap equity they have built up, or spread the cost over time so they can keep their cash where it is. All of those are reasonable. The first fork in the road is not how much you can borrow, it is what kind of project you have, because that decides which products are even available to you.
Pick the one that matches your project
Remodeling financing
Kitchens, bathrooms, flooring, aging-in-place work, single rooms, and most projects under roughly $100,000.
- Compare pre-qualified offers from multiple lenders at once
- Checking your options does not affect your credit score
- Unsecured, so no appraisal and no lien on the house
- Funds go to you as a lump sum
Construction loans
A custom home on your lot, a detached ADU, a large multi-room addition, or a down-to-studs renovation.
- Money is released in stages as the build progresses
- Interest-only payments on what has been drawn so far
- One-time close and two-time close options
- Converts to a permanent mortgage at completion
VA loan options
VA-backed financing has its own rules for buying, renovating, and building, and they are worth understanding before you commit to a path.
- Benefits earned through service, not a credit product
- Different rules apply to purchase, renovation, and construction
- Requires a VA-approved lender
- We work with veterans regularly across Marion, Sumter, and Lake
How the three compare
The differences that actually change your decision are how the money reaches the job, whether your house is used as collateral, and how long the whole thing takes.
| Remodeling financing | Construction loans | VA loan options | |
|---|---|---|---|
| Typical project | Kitchen, bath, flooring, aging in place, single rooms | Custom homes, detached ADUs, large additions, gut renovations | Purchase, renovation, or build, depending on the program |
| How money is paid out | Lump sum to you, then you pay us on the contract schedule | Staged draws to the job, released after inspection | Varies by program |
| Secured by the home | No, if unsecured. Yes, for home equity products | Yes | Yes |
| Appraisal required | Usually not for unsecured loans | Yes, based on the finished home | Yes, VA appraisal |
| Rough size range | Up to about $100,000 | Six figures and up | Varies by entitlement and program |
| Time to funding | Days | Weeks, with underwriting and appraisal | Weeks |
| Who we point you to | Acorn Finance, a multi-lender marketplace | Lori Meaney at PrimeLending in Ocala | Lori Meaney at PrimeLending in Ocala |
| Read more | Remodeling financing | Construction loans | VA loan options |
If this is your situation, start here
An unsecured home improvement loan is almost certainly your path. Start with remodeling financing.
You need a construction loan, and you should talk to a lender before your plans are engineered so you design to a budget you can actually finance. See construction loans.
Start with VA loan options, then confirm the specifics with a VA-approved lender. Some VA programs cover more than people expect and some cover less.
Get a free estimate from us first. It is much easier to pick a loan product when you have a firm scope and price instead of a guess.
That depends on whether it is attached or detached and how big it is. Our ADU and home additions pages cover the build side, and construction loans covers the money side.
Read the numbers first. We publish real ranges for kitchen remodels in Ocala, bathroom remodels in Ocala, and kitchen remodels in The Villages.
What we give you to take to a lender
Lenders do not fund vague ideas. They fund defined projects. Everything below comes standard with our free estimate, at no cost and with no obligation to hire us.
Fund it however you like. We build it the same way.
However you pay, the work is done by a licensed contractor, which matters more than most homeowners realize. Here is why licensing matters. Verify CBC1268994 on MyFloridaLicense.com before hiring anyone, including us.
Common questions
Do you offer financing directly?
We are the contractor, not a lender. We can point you toward common financing paths and third-party programs, and give you the written scope and pricing a lender needs, but the loan and its terms come from the lender you choose.
How do I know which type of loan I need?
It comes down to what you are building. Remodeling an existing home usually means a home improvement loan or a home equity product. Building something new, whether that is a house, a detached ADU, or a large addition, means a construction loan that funds in stages. Veterans have a separate set of programs worth reviewing first. Each of those has its own page on this site.
What is the difference between a home improvement loan and a construction loan?
A home improvement loan gives you the money as a lump sum and is often unsecured, meaning no appraisal and no lien on your house. A construction loan holds the funds and releases them in stages as phases of the build are completed and inspected, and it is secured by the property. The second is built for projects that take many months to finish.
Can I finance a remodel without using my home equity?
Yes. Unsecured home improvement loans are based on your credit and income rather than your equity, which means no appraisal, no title work, and no lien against your house. Home equity products are a separate path and often carry lower rates, so it is worth comparing both before you decide.
Do I have to use the lenders you mention?
No. We are not tied to any lender and we do not require you to use a particular one. We mention specific companies because they are local or because they save you time, not because we are obligated to. We will provide the same scope, pricing, license, and insurance documentation to whatever lender you bring.
What do you need to give my lender?
Usually a clear written scope of work and a firm price, which we provide as part of our proposal. For construction loans we also supply a line-item budget and ongoing draw documentation. Different lenders ask for different things, so check with yours and we will supply what they need.
Can veterans use VA financing for remodeling?
There are VA-related options for certain projects. We cover this in more depth on our VA loan options page, and you should confirm eligibility and terms with a VA-approved lender.
Important disclosures
Florida Legacy Construction LLC is a Florida certified building contractor, license number CBC1268994. We are not a lender, a mortgage broker, a mortgage loan originator, or a financial advisor. We do not originate loans, take applications, quote rates or terms, make credit decisions, or provide financial, tax, or legal advice.
Any lender or financing company referenced on this site is an independent third party. All loan products, offers, rates, fees, terms, amounts, and eligibility requirements are set by those companies and are subject to credit approval and to change without notice. Nothing on this page is an offer of credit, a commitment to lend, or a guarantee of approval.
PrimeLending, a PlainsCapital Company, NMLS #13649. Equal Housing Lender. For licensing information go to www.nmlsconsumeraccess.org. Acorn Finance is a financing marketplace and is not a lender.
You are free to select any lender or financing source you choose. Using any lender or program mentioned here is not a condition of doing business with Florida Legacy Construction, and our pricing is the same regardless of how you pay.
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