Can I get a renovation loan and home loan simultaneously?

Not typically. The best avenue for you would be a renovation loan, like a 203K product. Keith Jean-Pierre Managing Principal The Dapper Agents Operations In: NY, NJ, FL & CA

Yes, through an FHA 203(k) loan or a Fannie Mae HomeStyle renovation loan that rolls purchase and renovation costs into one mortgage. In Citrus Springs, Florida, these work well for fixer-upper homes needing 10 to 30 thousand in repairs. Expect a longer closing timeline, typically 45 to 60 days. Kevin Neely & Kaitlynd Robbins | K2 Sells

Yes. Options include FHA 203(k), Fannie Mae HomeStyle, and Freddie Mac CHOICERenovation. These bundle purchase (or refinance) plus renovation costs into one mortgage with one closing and funds released as work is completed.

Yes — there are loans that combine both into one, like FHA 203(k) or conventional renovation loans (HomeStyle/CHOICERenovation). The renovation funds are rolled into the mortgage.

Absolutely! This type financing was very popular coming out of the housing crash of 2008. Many homes that had been foreclosed on need extensive repairs in order to qualify for a mortgage. You may need to do some lender shopping around to find the right program for you needs. Basically a set amount for the repairs is wrapped up into the final mortgage amount -- that included the purchase price of the home and the repairs. So the homes value is set at what you paid for it plus the repairs. That is the very simplified description -- there are some challenges and hurdles -- but totally possible!