Financing · Educational overview
Financing your remodel.
Plenty of Collin County homeowners finance a renovation rather than pay all cash — and the route you choose quietly shapes your budget, timeline, and risk. Here’s a plain-English map of the common options, so you can walk into a lender conversation already knowing the terrain.
How to read this page
We build the project. You choose the loan.
The Remo Guys is a design-build contractor, not a bank. We don’t originate loans, set rates, or approve credit — so nothing here is a program we sell or a guarantee of approval. It’s an honest overview of how remodels get paid for.
Where we earn our keep is alongside your lender: an accurate scope, a clean fixed bid, and a draw schedule that actually matches the build. Get the financing conversation started early and there are fewer surprises at closing.
Common routes
Ways homeowners fund a remodel.
No single option wins for everyone — the right fit depends on your equity, the size of the project, and whether you already own the home. These are the routes we see most often in Allen, Plano, Frisco, and McKinney.
Home equity loan or HELOC
Borrow against the equity you've built. A HELOC is a revolving line you draw from as the project moves; a home equity loan is a fixed lump sum. In Texas, both are home-equity loans under the state constitution — capped at 80% of your home's value, with a required waiting period before closing.
Cash-out refinance
Replace your existing mortgage with a larger one and take the difference in cash. It can make sense when current rates are at or below your rate and you'd prefer a single fixed payment. In Texas it carries the same 80% loan-to-value cap as other home-equity borrowing.
Personal & home-improvement loans
Unsecured loans that don't touch your home's equity — usually faster to close with no appraisal, generally at higher rates than equity-backed options. A common fit for smaller, clearly-scoped projects, or as a bridge.
Renovation mortgages (FHA 203(k) / HomeStyle)
Roll a purchase or refinance and the renovation into one loan underwritten against the home's finished value. Built for buying-and-fixing or a larger remodel where you don't yet have the equity — and they typically require a qualified, insured contractor working from a fixed bid.
Construction-to-permanent loans
For rebuilds, large additions, and ADUs: one loan that funds the build in milestone draws, then converts to a permanent mortgage — so you're not paying interest on the full balance from day one.
Contractor-arranged financing
Some remodeling projects can be paired with third-party home-improvement financing arranged through a contractor. Whether it's a fit depends on the provider, the scope, and your credit — ask us and we'll tell you plainly what's realistically available for your project.
Programs, limits, and rates change often — treat everything above as a framework, not a quote, and confirm the current numbers and your eligibility with your lender before you commit.
Where one team helps
Financed projects run on clean draws.
Renovation and construction loans don’t hand over a pile of cash. Money is released in draws — installments tied to completed milestones like foundation, framing, and finishes, each inspected before the next is funded, often with a retainage held back until final sign-off.
That’s exactly where a single accountable contractor matters. Draws are frequently gated on inspections and permits closing out cleanly — so one team that owns the schedule, the permits, and the draw paperwork keeps both the money and the trades moving instead of stalling between separately hired trades.
Go deeper
How to Finance a Home Addition or Whole-Home Renovation in Collin County
How to finance a home addition in Collin County: construction loans, FHA 203(k), HomeStyle, HELOC vs cash-out refi, draw schedules, and Texas equity rules.
Read the full guideQuestions
Frequently asked.
- Does The Remo Guys offer financing?
- We're a builder, not a lender — we don't originate loans or set rates. Most homeowners finance a renovation through their own bank or lender using options like a HELOC, a cash-out refinance, or a renovation mortgage. We're glad to talk through the approach that fits your project and coordinate with your lender on scope, bids, and draw schedules.
- What are common ways to pay for a remodel in Collin County?
- The usual routes are cash, a home equity loan or HELOC, a cash-out refinance, a personal or home-improvement loan, a renovation mortgage such as FHA 203(k) or Fannie Mae HomeStyle, or a construction-to-permanent loan for a rebuild or large addition. Which one fits depends on your equity, project size, and whether you already own the home.
- How does a builder work with a construction or renovation loan?
- Renovation and construction loans release money in draws tied to completed milestones — foundation, framing, finishes — each verified before the next is funded. A single accountable team that owns the schedule, the permits, and the draw paperwork keeps both the money and the trades moving, which is exactly where a design-build contractor earns their keep on a financed job.
Let’s talk about the approach that fits.
Tell us what you’re picturing and we’ll set expectations on scope, timeline, and cost — and talk through how the financing might flow before you pick a loan. No pressure, no sales pitch on a mortgage we don’t sell.