Construction Loan: If you’re planning a major transformation that requires substantial funding, a construction loan might be suitable. This type of loan allows you to spread the cost over an extended period. Lenders assess the value of your home after the renovations based on the building plans and typically allow you to borrow up to 90% of the projected end value. Suppose your home is estimated to be worth $600,000 after the renovation. With the assistance of Ingenious Finance, you could potentially borrow up to $540,000 (90% of $600,000).