FNMA HomeStyle RENOVATION MORTGAGE

Program Details:

The HomeStyle Renovation Mortgage is a single-close loan that lets you buy or refinance a home in need of repairs or updating.  That’s right, even if you already own your home it’s possible to refinance your current mortgage and include the funds needed for repairs.

The loan amount for the HomeStyle Renovation mortgage is based on the “After Completed Value” of the home rather than what the home is currently worth.

Program Details:

1-4 Unit Owner Occupied Up to 95% LTV

Second and Vacation Homes

Investment Properties

Total Cost Of Project Cannot Exceed 50% Of The Completed Value

Minimum 3% Down Payment with Gift

Maximum 3% Seller Contribution allowed

Existing Properties Only