Freddie Mac has recently announced a brand new loan product that allows home buyers to wrap up a renovation into a home purchase all in one loan product! What is Freddie Mac you ask? Freddie Mac is a government sponsored Organization that purchases Loans from the secondary mortgage market to free up capital for smooth home purchasing.
Details on Freddie Mac can be found here: Wikipedia
Under Freddie Mac guidelines, the loan can be delivered during the project with appropriate over site or after project completion. More info about the new renovation based Freddie Mac loan product can be found here!