The home you'd love to buy, or maybe the one you're living in now, has all the potential in the world — if only you could give it a good makeover. Like a $25,000 overhaul to the kitchen and living area, plus a fantastic enclosed patio just off the breakfast nook.

But, of course, you have to be able to pay for it. And looking at your list of must-haves, it won't be cheap. So you crumple the list and pray for a miraculous end-of-the-year bonus to rekindle your renovation dreams for next year. Sound familiar?

Paying for a renovation may be easier than you think.”

Between renovation loans, refinancing to include renovation costs or taking out an equity line of credit, you have options. Before you throw in the towel on achieving your renovation dreams this year, restore your hope with a few ways to pay that could work for you right now.

Renovation loans: For the home shopping homebuyer

Movement offers several renovation loans, to qualified borrowers, created to cover the property, plus minor or major repairs, meaning you can get the updates you want and have a better chance for approval on a place that needs some improvement. These options could be considered some of the best home improvement loans.

FHA 203(k) Standard

With a low down payment, get one loan to purchase or refinance and include rehab work. Loan amount is based on 110% of the value of the home.

FHA 203(k) Limited

Get up to $35,000 toward value-adding home improvements lumped into one mortgage through this quick, low-hassle process.

HomeStyle® Renovation Mortgage

Include renovation costs in one loan to purchase or refinance.

HomeStyle® for Investors

An investment-specific loan covering single unit properties with all renovation work allowed, including luxury additions.

Refinancing: For the homeowner dreaming of updates

Good news for current homeowners! The same loans most of our buyers use to include renovation costs in their purchase also work for refinancing. And with rates as low as they are right now, there may be no better time to refinance with renovating in mind.

Both the FHA 203(k) Standard and Limited loans have refinancing options for current homeowners, or HomeStyle® Renovation Mortgage may bring you the most benefit. Talk to your loan officer about refinancing with one of these programs to get the work you want covered.

Home equity line of credit: For the home with accessible value

An alternative to refinancing, getting a home equity line of credit is taking out an additional loan based on your home's current value. Similar to a mortgage, the line of credit comes with an interest rate and deadline for repaying, in addition to your mortgage and other home ownership fees. Before you dip into an equity line of credit, make sure you have the ability to repay the added costs involved.

Ok, so let's nail down what all of this means for you.

> If you're already in the market to buy a house and you're willing to invest some time and energy into an estate remake, talk to your mortgage professional about a purchase renovation loan option.

> You're a homeowner who refuses to put off your home's potential any longer? It could be time to work out a refinance loan option that can help you cover renovation costs and add value to the property.

> If your current home has built-up equity you can tap into, it may be time to look into a home equity line of credit to let your home cover its own renovation costs.

The bottom line: You've got options. Talk to a mortgage professional to learn more about what's available to you.