Lenders often review your credit score and credit history to determine your creditworthiness. A strong credit profile increases your chances of securing a favorable loan with competitive interest rates.

Lenders want to ensure that you have a stable income source to repay the loan. Providing documentation such as pay stubs, tax returns, and bank statements can help demonstrate your financial stability.

To evaluate the feasibility of your renovation project, lenders may require a detailed renovation plan and cost estimates from contractors. This helps them assess the potential increase in property value and determine the loan amount.

Lenders may consider the amount of equity you have in your home. Having substantial equity can improve your chances of securing a larger loan amount.

Lenders analyze your debt-to-income ratio to assess your ability to manage additional debt. Maintaining a low debt-to-income ratio increases your chances of loan approval.